Semper Paratus (Nasdaq: LGST) announced this morning that its shareholders approved its combination with Tevogen Bio during a special meeting yesterday January 31.
In connection with the vote, shareholders holding 1,432,457 shares out of a possible 1,502,180 Semper Paratus ordinary shares opted to redeem their shares. While the final amount of the funds to be removed from the trust is still being calculated, the current preliminary calculations are that approximately $15.9 million, or $11.07 per share, will be removed from the trust.
Including prior votes, LGST shareholders have redeemed an aggregate of 99.8% of the SPAC’s trust thus far, leaving it with roughly $800,000 and 69,723 shares remaining.
The parties did not provide a timeline for the closing of the deal, but it is expected to be completed as soon as practicable following the satisfaction of the remaining closing conditions, including approval for listing on The Nasdaq.
Following the closing of the deal, the common stock of the combined company is expected to begin trading on Nasdaq under the symbol “TVGN”.
Semper Paratus inked its $1.2 billion deal with Tevogen Bio in June 2023. Warren, New Jersey-based Tevogen is developing a treatment to boost the immune systems of COVID patients undergoing cancer treatments or that have other comorbidities.
All other proposals presented on the ballot were also approved at the meeting .
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