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.
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