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ECN Capital rolls out growth plan after cancelled merger deal Add to ...

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Newly hatched finance company ECN Capital Corp. is moving forward with plans to raise up to $700-million to fund growth projects after cancelling a planned deal with special purpose acquisition corporation (SPAC) Infor Acquisition Corp.

ECN Capital was spun out of Element Financial Corp. last month and had planned to raise $220-million by joining forces with Infor. The two companies mutually agreed to cancel that transaction on Wednesday, as Infor shareholders were not expected to approve the transaction at a vote scheduled for Oct. 24.

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