Software Acquisition Group III (NASDAQ:SWAG) announced that its shareholders approved its combination with software firm Nogin at a special meeting yesterday.
The SPAC tipped in an 8-K yesterday that about 82.7% of its shares were redeemed in connection with its vote. It did not update that number in the subsequent press release, but if it stands, that counts as a solid vote in the current market. This was perhaps aided by a standby purchase agreement for up to 6 million shares that the parties announced last week.
Software III laid out its vote tallies in a filing this morning and all measures passed by wide margins. The parties expect the deal to close on August 24, and on August 25, Nogin’s shares and warrants are expected to begin trading on the Nasdaq under the symbols “NOGN” and “NOGNW”, respectively.
The parties initially announced the $646 million combination on February 14. Tustin, California-based Nogin delivers provides software tools to ecommerce brands to help manage their marketing, shipping and payments.
ADVISORS
- Stifel Financial Corp. is serving as exclusive strategic and financial advisor to Nogin.
- Latham & Watkins LLP is acting as Nogin’s legal counsel.
- Gateway Group is acting as investor relations advisor to Nogin.
- Jaffe Communications is acting as its public relations advisor.
- Jefferies LLC is serving as exclusive financial advisor and capital markets advisor to SWAG III.
- Kirkland & Ellis is acting as SWAG III’s legal counsel.
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