An application of the finite spectrum assignment (FSA) control technique is presented for unstable systems with feedback delay. The FSA controller predicts the actual state of the system over the delay period using an internal model of the real system. If the internal model is perfectly accurate then the feedback delay can be compensated. However, parameter mismatches of the internal model or implementation inaccuracies of the control law may result in an unstable control process. In this paper, the stabilizability of an undamped second-order system is analyzed for different system and delay parameter mismatches. Theoretical stability and robustness to implementation inaccuracies of the control law are discussed. It is shown that, for small parameter uncertainties, the FSA controller allows stabilization for significantly larger feedback delays than conventional delayed proportional-derivative-acceleration controllers do.