Artius Acquisition Inc. (NASDAQ:AACQ) announced in an 8-K filing that its shareholders approved its combination with West-Sacramento zero-carbon materials company Origin Materials at a special meeting earlier today.
A total of 58,972,042 Artius shares, representing approximately 65.11% of the outstanding ordinary shares entitled to vote, were present at the meeting. Redemption numbers were not disclosed, but the transaction was approved nearly unanimously with 56,433,318 votes in favor of the combination. The nine other proposals were also approved, including an equity incentive plan and employee purchase plan. AACQ climbed nearly 3% following the meeting.
The transaction is expected to close on June 25 prior to market open, and the combined entity’s shares and warrants will start trading on the Nasdaq under the new symbol “ORGN” and “ORGNW”, respectively, also on June 25.
The parties initially announced the $999 million deal on February 17. Origin is developing a series of carbon-negative and carbon-neutral materials to replace an array of consumer packaging and production elements. The company recently launched its Net Zero Automotive program with Ford Motor Company (NYSE:F) in a sustainable initiative to industrialize new materials and drive decarbonization in the automotive industry.
For full vote tallies, click HERE.
ADVISORS
- BofA Securities is serving as exclusive financial advisor to Origin
- Cooley LLP is serving as legal advisor to Origin.
- Credit Suisse and Goldman Sachs & Co. LLC are serving as joint financial and capital markets advisors to Artius and serving as co-placement agents on the PIPE offering.
- Cleary Gottlieb Steen & Hamilton LLP is serving as legal advisor to Artius.
Terms Tracker for the Week Ending December 2nd, 2022 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. As we slide into December, and the holiday season, we recognized two new S-1 registration statements and zero IPOs. The two new S-1s consisted of...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC Liquidations: NightDragon, VectoIQ II, and Fortistar Sustainable Solutions Corp. Night Dragon Acquisition Corp. Will Redeem Its Public Shares and Will Not Consummate an Initial Business Combination NightDragon Acquisition Corp. (NASDAQ: NDAC) anticipates that the last trading day...
Lakeshore Acquisition I Corp. (NASDAQ:LAAA) disclosed this afternoon that its shareholders have approved its business combination with medical device company ProSomnus during a special meeting held earlier today. Approximately 92.4% of the votes cast at the meeting on the business combination proposal, representing approximately 80.5% of Lakeshore’s outstanding shares, voted to approve the deal. The SPAC disclosed...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Embark director Elaine Chao and others sued over SPAC merger, Alvotech switches CEO and takes COO from Teva, and Uber Freight and Aurora expand pilot Embark Director Elaine Chao, Others Sued Over SPAC...
SPACInsider contributors Anthony Sozzi and Sam Beattie this week compiled their three favorite potential SPAC targets among potential targets in the security industry. We look at why they are compelling and why each could be a fit for a blank-check merger. Security is on the market’s mind and is expected to grow at a CAGR...