Hainan Manaslu Acquisition Corp. (NASDAQ:HMAC) announced in an 8-K this afternoon that its shareholders approved its combination with brand management company Able View at a special meeting held on August 2.
At the meeting, there were 7,295,963 ordinary shares representing approximately 81.37% of the issued and outstanding ordinary shares present, constituting a quorum.
The deal received overwhelming approval with holders representing 7,003,776 shares voting in favor of the business combination, while holders of only 292,187 shares voted against it.
In connection with the shareholders’ vote at the meeting, 6,766,651 ordinary shares were tendered for redemption, representing 98.07% of HMAC’s trust. The SPAC is now left with $1.38 million following the vote.
Nonetheless, Hainan Manaslu plans to close the business combination as soon as possible and will continue to accept reversal of redemption requests until closing. Once the deal is completed, the combined company is expected to trade on the Nasdaq.
The SPAC inked its $400 million business combination with Able View in November 2022. Shanghai-based Able View is a cross-border brand management company focusing on beauty and personal care segments.
All other proposals on the ballot, including the NTA Requirement Amendment Proposal, the Charter Proposal, and the Equity Incentive Plan Proposal, were also approved with minimal pushback from shareholders.
Berenson Acquisition Corp. I (BACA) Signs Non-Redemption Agreements Berenson (NASDAQ:WTMA) announced in an 8-K this morning that it has entered non-redemption agreements with third parties that will secure 655,715 shares from redemption. The filing did not note what incentive, if any, these investors received for agreeing not to redeem. The move comes as Berenson is...
Crixus BH3 Acquisition Company (NASDAQ: BHAC) announced in a filing this afternoon that it is postponing its extension vote to Friday, October 6, 2023 at 9:00 a.m ET. The meeting was originally to be held Friday, September 29, but presumably it has been moved to account for amendments to its proxy which was filed today...
Welsbach Technology Metals Acquisition Corp. (NASDAQ: WTMA) announced in an 8-K this afternoon that it is postponing its extension vote one day to 2 pm ET September 29. The SPAC would not be able to postpone it much further as its current transaction deadline falls on a Saturday the next day, September 30. At the...
Global Lights Acquisition Corp. (NASDAQ:GLAC) rolled out an S-1 on Friday, to become the 21st SPAC to file in 2023. This keeps the recent pace with two new SPACs filing to list in each of the past three months so far. Three out of the last four of those have also sought to raise $60...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Terran Orbital Closes 432.5 Million Public Offering Terran Orbital Corporation (NYSE: LLAP) (“Terran Orbital” or the “Company”), which combined with Tailwind Two in March 2022, today announced the closing of its previously announced public offering of 23,214,290...