LONDON and NEW YORK, Jan. 03, 2024 (GLOBE NEWSWIRE) — XBP Europe (“XBP” or the “Company”) (NASDAQ: XBP and XBPEW), today announced that the company will celebrate its recent public listing on the Nasdaq Stock Exchange by ringing the opening bell on Friday, January 5, 2024. The event will be livestreamed beginning at 9:15 ET here.
On November 29, 2023, XBP Europe announced the completion of the business combination with CF Acquisition Corp VIII. XBP Europe will cater to the European market as a digital transformation technology and services partner with a focus on streamlining bills and payments, across public and private sectors.
Andrej Jonovic, the CEO of XBP Europe, stated, “We are excited to kick off 2024 with the Nasdaq bell ringing. This listing is a testament to the hard work and dedication of the entire XBP Europe team. As we embark on this new chapter we will continue to push the boundaries of innovation and endeavor to create value for our shareholders and clients.”
About XBP Europe
XBP Europe is a pan-European integrator of bills, payments and related solutions and services seeking to enable digital transformation of its more than 2,000 clients. The company’s name – ‘XBP’ stands for ‘exchange for bills and payments’ and reflects the company’s strategy to connect buyers and suppliers, across industries, including banking, healthcare, insurance, utilities and the public sector, to optimize clients’ bills and payments and related digitization processes. The company provides business process management solutions with proprietary software suites and deep domain expertise, serving as a technology and services partner for its clients. Its cloud-based structure enables it to deploy its solutions across the European market, along with the Middle East and Africa. The physical footprint of XBP Europe spans 15 countries and 34 locations and a team of approximately 1,500 individuals. XBP Europe believes its business ultimately advances digital transformation, improves market wide liquidity by expediting payments, and encourages sustainable business practices.
Certain statements included in this press release that are not historical facts are forward-looking statements within the meaning of the federal securities laws, including safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are sometimes accompanied by words such as “believe,” “continue,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “predict,” “plan,” “may,” “should,” “will,” “would,” “potential,” “seem,” “seek,” “outlook” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. These statements are based on various assumptions, whether or not identified in this press release. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by an investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of CFFE and XBP. Many factors could cause actual future events to differ from the forward-looking statements in this press release, including but not limited to: (i) the effect of the announcement of the transaction on XBP’s business relationships, operating results, and business generally, (ii) risks that the transaction disrupt current plans and operations of XBP and potential difficulties in XBP employee retention as a result of the transaction, (iii) the outcome of any legal proceedings that may be instituted against XBP or against CFFE related to the merger agreement or the transaction, (iv) the ability to maintain the listing of XBP stock on the Nasdaq Stock Market, (v) volatility in the price of XBP’s securities, (vi) changes in competitive and regulated industries in which XBP operates, variations in operating performance across competitors, changes in laws and regulations affecting XBP’s business and changes in the combined capital structure, (vii) the ability to implement business plans, forecasts, and other expectations after the completion of the transaction, and identify and realize additional opportunities, (viii) the potential inability of XBP to increase its manufacturing capacity or to achieve efficiencies regarding its manufacturing process or other costs, (ix) the enforceability of XBP’s intellectual property, including its patents and the potential infringement on the intellectual property rights of others, (x) the risk of downturns and a changing regulatory landscape in the highly competitive industry in which XBP operates, and (xi) costs related to the transaction and the failure to realize anticipated benefits of the transaction or to realize estimated pro forma results and underlying assumptions, including with respect to estimated stockholder redemptions. These risks and uncertainties may be amplified by the COVID-19 pandemic, which has caused significant economic uncertainty. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the registration statement that includes a proxy statement/prospectus on Form S-4, and other documents filed by CFFE or that will be filed by XBP from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance on forward-looking statements, and XBP and CFFE assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither XBP nor CFFE gives any assurance that either XBP or CFFE will achieve its expectations.
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