Trident Acquisition Corp. (NASDAQ:TDAC) secured shareholder approval of its combination with mobile app and data provider Lottery.com in a special meeting held earlier today.
TDAC pre-announced its redemption amounts yesterday. Just 20,955 shares of its common stock, or 0.4% of the SPAC’s trust, were redeemed in connection with the business combination. This means that stockholders holding 5,765,400 shares, or 99.6% of the SPAC’s outstanding shares, elected to retain their common stock. As a result, Lottery.com expects to receive over $63 million in gross proceeds once the deal closes to be used to fund its working capital and global expansion.
Holders of 8,066,748 shares of common stock were present at today’s special meeting. The business combination was overwhelmingly approved as it received 8,065,271 votes in favor of it, and just 977 against it.
The combined company will be renamed Lottery.com, Inc. and its common stock and warrants are expected to begin trading on The Nasdaq Stock Market under the ticker symbols LTRY and LTRYW, respectively, at the open of the market on Monday, November 1.
Trident initially announced its LOI with Lottery.com on November 19, and later inked the $526 million combination on February 22. Lottery.com allows users to play lottery games through a mobile app and also serves as a data provider for about 400 digital publishers.
All other proposals on the ballot, including the Director Election and the Equity Plan, were approved at today’s meeting. For a full list of tallies and proposals, you may click here.
ADVISORS
- White & Case LLP is serving as legal advisor to Lottery.com.
- B. Riley Securities and Chardan are acting as co-capital markets advisors and financial advisors to Trident.
- Loeb & Loeb is acting as legal advisor to Trident.
Priveterra Acquisition Corp. (NASDAQ:PMGM) announced in an 8-K this morning that it plans to adjourn its special meeting to approve its combination with AEON Biopharma from noon today to the same time June 9. The SPAC plans to use this time to further engage with its shareholders as the ballot includes a variety of additional...
Latest Non-Redemption Agreements: EVe Mobility EVe Mobility Acquisition Corp. (EVE) Adds Non-Redemption Agreement On June 5, 2023, EVe Mobility Acquisition Corp. (NYSE:EVE) and the Sponsor entered into non-redemption agreements with unaffiliated third party investors, pursuant to which the Investors have, in connection with the Extension Meeting, agreed not to redeem, or to reverse and revoke any prior...
Latest SPAC Liquidations: ST Energy Transition I, MELI Kaszek Pioneer Corp. ST Energy Transition I Ltd. (STET) to Liquidate on June 7 ST Energy Transition I Ltd. (NYSE:STET) announced today that the Board of Directors has elected to dissolve and liquidate the company. Net of taxes and dissolution expenses, the per-share redemption price for the...
Worldwide Webb Acquisition Corp. (NASDAQ: WWAC) announced this afternoon that it has secured a $5 million PIPE for its proposed merger with consultancy firm Aeries Technology. While most PIPEs are priced at $10 per share, Worldwide Webb’s $5 million subscription agreement was executed at just $4.48 per share in a private placement to be completed concurrently...
Metals Acquisition Corp. (NYSE: MTAL) announced this afternoon that its shareholders have approved its acquisition and business combination with the CSA Copper Mine from Glencore (LON:GLEN) at a special meeting held earlier today. The business combination and merger were overwhelmingly approved as both proposals received 27,538,130 shares in favor of it and just 455,506 shares against it. In...