Alkuri Global Acquisition Corp. (KURI) Shareholders Approve Babylon Health Deal
by Marlena Haddad on 2021-10-20 at 5:04pm

Alkuri Global Acquisition Corp. (NASDAQ:KURI) announced in an 8-K filing today that it secured shareholder approval of its combination with digital healthcare company Babylon in a special meeting held this morning.

Although KURI did not disclose its redemption numbers, it traded slightly above $10 throughout its redemption deadline October 18 and reached $10.02 today.  The business combination received 30,577,965 votes in favor of the deal and 1,242,574 against it.

The deal is expected to close tomorrow, October 21, and the combined company’s shares and warrants are expected to begin trading on the New York Stock Exchange under the symbols “BBLN” and “BBLN.W,” respectively, Friday, October 22.

Alkuri Global and Babylon initially announced the $3.6 billion deal on June 3. London-based Babylon provides digital self-help care tools and telemedicine services to patients in North America, Europe and Asia and engaged with a patient once every five seconds in 2020.

Earlier this month, Babylon secured a sustainability-linked investment of up to $200 million from Albacore Capital Group, a strategic capital investment firm.

All other proposals were approved at today’s special meeting.  For a full list of tallies and proposals, you may click here.


ADVISORS

  • Ardea Partners LP is serving as financial advisor to Babylon.
  • Citi is serving as financial and capital markets advisor to Babylon.
  • Wilson Sonsini Goodrich & Rosati, P.C., Allen & Overy LLP and Walkers (Jersey) LLP are serving as legal counsel to Babylon.
  • Jefferies is serving as exclusive financial advisor to Alkuri Global.
  • Winston & Strawn LLP is serving as legal counsel to Alkuri Global.
  • Jefferies, Citi and Pareto Securities AB served as placement agents on the PIPE.
Recent Posts
by Nicholas Alan Clayton on 2025-05-09 at 12:17pm

Lake Superior (NASDAQ:LKSPU) has filed for a $100 million SPAC as its CEO attempts to go three-for-three with SPACs that led to completed deals. This new vehicle has one right to a 1/6 share in each unit and some common features of a SPAC underwritten by Cohen & Company in this current climate. Although the...

by Nicholas Alan Clayton on 2025-05-09 at 8:20am

At the SPAC of Dawn De-SPACs were among the biggest movers in yesterday’s stock market rally, but most of this momentum came on the backs of direct earnings performance. Only three US-listed companies had bigger one-day gains than quantum computing firm D-Wave’s (NYSE:QBTS) +51.2% jump. This came as the company announced $15 million in revenue...

by Nicholas Alan Clayton on 2025-05-08 at 4:57pm

EGH Acquisition Corp. (NASDAQ:EGHAU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EGHAU”, Friday, May 8, 2025. The new SPAC aims to combine with a target company in the energy transition or sustainability arena that help industries achieve efficiencies and decarbonization....

by Nicholas Alan Clayton on 2025-05-08 at 8:25am

At the SPAC of Dawn Fed Chair Jerome Powell announced yesterday that the body intends to keep rates unchanged, earning him the moniker “FOOL” by US President Donald Trump. But, the announcement could bring some stability to market, which has seen macro factors pull it a variety of directions since the start of the year....

by Kristi Marvin on 2025-05-07 at 12:13pm

Tariffs, Trade Routes, and Tech: Freightos’ View from the Cargo Frontlines 2025 is shaping up to be a wild year for global trade, and few companies have a vantage point on the impacts of every-changing tariff policy quite like digital cargo-booking platform Freightos (NASDAQ:CRGO). This week, we catch up with Freightos CEO Zvi Schreiber. He shares...

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved