Northern Star Investment Corp. II (NSTB) Postpones Meeting Again
by Kristi Marvin on 2021-08-24 at 9:10am

Northern Star Investment Corp. II  (NYSE:NSTB) announced in a press release this morning that it was once again forced to postpone its tentatively scheduled shareholder meeting to approve its combination with Apex Clearing Holdings.

Northern Star II originally scheduled its vote for the end of June, but were forced to postpone at that time because the SEC had not yet completed its review.  Flash forward two months later and Northern Star had penciled in August 30th as their new vote date to complete, but the SEC is still holding them up.

As reference, the $4.662 billion NSTB/Apex deal was announced on February 22, 2021, six months ago, so this is a very long review process, indeed. But, as NSTB frustratingly notes, “Despite the Company’s best efforts to have the Staff complete its review since its initial filing more than four months ago, such review has not been completed to date.”  

Ironically, NSTB had one of the quickest deal announcements coming just 27 calendar days after NSTB’s IPO on January 26th of this year.  However, given that APEX is a digital custody and clearing platform for the financial services industry, perhaps the review process is more complicated that your average SPAC transaction.

Whatever the case may be, NSTB notes they intend to give notice of a new shareholder vote date once the SEC has completed its review.

 

Northern Star Investment Corp. II (NSTB) Postpones Meeting Again
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