Goldenbridge Acquisition Limited (NASDAQ:GBRG) announced in an 8-K that its shareholders approved its combination with digitalized auto services provider Auto Services Group through its indirect majority-owned subsidiary Sun Car Online Insurance Agency at a special meeting held earlier today.
Holders of 3,059,941 ordinary shares of GBRG were present at the meeting, representing 85.91% of the ordinary shares issued and outstanding. The deal was approved with 3,030,295 shares voting in favor of the transaction and just 29,646 shares against it.
Today’s 8-K did not provide a timeline for the closing of the deal, but Goldenbridge noted that it plans to close as soon as possible and will continue to accept reversal of redemption requests until then.
Goldenbridge announced the $858 million combination with Auto Services Group in May 2022. Shanghai, China-based SunCar is a leading provider of digital platforms of comprehensive automotive services and market-wide auto insurance products in China.
ADVISORS
- Maxim Group LLC is acting as M&A and financial advisor to Goldenbridge.
- Loeb & Loeb LLP is acting as legal advisor to Goldenbridge.
- Pryor Cashman LLP is acting as legal advisor to SunCar.
- Chain Stone Capital Limited (CTM) is acting as financial advisor to SunCar.
Trajectory Alpha Acquisition Corp. (NYSE:TCOA) announced this afternoon that it has entered into a purchase and contribution agreement with its sponsor and J. Streicher Holdings, LLC. As a result, the SPAC will undergo a change in management. As part of the agreement, J. Streicher will pay $250,000 to Trajectory Alpha and $1.00 to the sponsor. In return,...
Latest SPAC Liquidations: Sound Point I, Bullpen Parlay, and Zimmer Energy Transition Sound Point Acquisition Corp I (SPCM) to Liquidate on June 4 Sound Point Acquisition Corp I, Ltd (NASDAQ: SPCM) announced today that it intends to liquidate and dissolve, effective as of June 4, 2023, and will redeem all of the outstanding Class A...
Latest Non-Redemption Agreements: GSR II Meteora Acquisition Corp. GSR II Meteora Acquisition Corporation (GSRM) Adds Non-Redemption Agreement On May 31, 2023, GSR II Meteora Acquisition Corp., (NASDAQ:GSRM), entered into certain non-redemption agreements with certain third parties in connection with the special meeting of stockholders. Pursuant to such Non-Redemption Agreements, each Non-Redeeming Stockholder agreed that it will...
Athena Technology Acquisition Corp. II (NYSE:ATEK) announced this afternoon that it is postponing its extension vote scheduled for June 12 until June 13. Shareholders at the special meeting are to vote on a proposal to allow Athena Technology II to extend its transaction deadline on a monthly basis up to nine times from June 14,...
Clover Leaf Capital Corp. (NASDAQ: CLOE) has entered into a definitive agreement to combine with Digital Ally, Inc.’s (NASDAQ: DGLY) ticketing platform Kustom Entertainment at a pro forma equity value of approximately $222.2 million. Kansas City, Kansas-based Kustom Entertainment is a primary and secondary ticket platform that manages wholly-owned subsidiaries TicketSmarter and Kustom 440. Transaction Overview Clover...