Abri SPAC I (NASDAQ:ASPA) announced that its shareholders approved its combination with adtech firm DLQ at a special meeting held on October 23.
The deal was overwhelmingly approved with all holders, representing 2,326,538 shares, voting in favor of the business combination with the exception of the holder of 1 share that abstained to vote.
In connection with the meeting, 639,963 shares were tendered for redemption. As a result, approximately $6,834,804 million, approximately $10.68 per share, will be removed from Abri SPAC I’s trust account. Following redemptions, the SPAC will have 41,555 public shares of common stock outstanding.
The parties have not yet provided a timeline for when the deal will close. But, following the closing, the combined company will operate under the name Collective Audience and will be led by Mr. Brent Suen.
Abri SPAC I inked the $114 million deal with DLQ in September 2022. DLQ is a wholly-owned subsidiary of New York-based digital marketing firm Logiq (OTCQX:LGIQ) focused on digital ad placements and ecommerce optimization.
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