PORTAGE FINTECH ACQUISITION CORP. appointed new CEO

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. 


On July 11, 2023, each of Adam Felesky, Ajay Chowdhery, Paul Desmarais III, Steven Jay Freiberg, Stuart Charles Harvey, Jr., G. Thompson Hutton, Seraina Macia and Jason Michael Pate tendered their resignation as directors in connection with the entrance by PFTA I LP, an Ontario limited partnership (the "Sponsor"), into a Securities Purchase Agreement (the "Agreement") with Perception Capital Partners III LLC, a Delaware limited liability company ("Perception"), pursuant to which Perception will acquire Class B ordinary shares and private placement warrants of Portage Fintech Acquisition Corporation (the "Company") from the Sponsor. Such resignations are conditioned on the closing of the transactions contemplated by the Agreement (the "Closing") and will be effective as of the closing date (the "Closing Date"), which is expected to be no later than July 21, 2023. Prior to or at the Closing, each of Scott Honour, Rick Gaenzle, R. Rudolph Reinfrank, Thomas J. Abood and Karrie Willis will fill the vacancies left by the departing directors set forth above.


Also on July 11, 2023, each of Adam Felesky and Ajay Chowdhery tendered their resignation as Chief Executive Officer and Chief Financial Officer and Chief Operating Officer, respectively, with such resignation conditioned on the Closing and to be effective as of the Closing Date. On the Closing Date, Rick Gaenzle will replace Adam Felesky as Chief Executive Officer, Corey Campbell will replace Ajay Chowdhery as Chief Financial Officer, and Tao Tan and Jim Sheridan will join the Company as Co-Presidents.