M I Acquisitions, Inc. Releases Results of Shareholder Vote
M I Acquisitions, Inc. (“MACQ”), released the results of its shareholder vote to approve MACQ’s previously announced business combination with Priority Holdings, LLC., a provider of B2C and B2B payment processing solutions. The combined company is expected to be renamed Priority Technology Holdings, Inc. and is expected to continue to be listed on the Nasdaq Stock Market under the symbol “PRTH”.
| FOR | AGAINST | ABSTENTIONS |
| 5,502,341 | 300 | 0 |
Total shares of common stock exercising redemption rights were only 6,000 shares, which left $51.8 million cash held in trust. If you remember, M I Acquisitions had originally raised $53.1 million in its initial public offering. No word on an actual closing date, but the 8-K stated, “M I and Priority anticipate closing the business combination in the coming days.”
You can find the 8-k release here. However, its a bit surprising there wasn’t more news surrounding the closing. Neither the MACQ or Priority websites have any announcements or press releases and the only information currently out there is a formal 8-K detailing the results of the vote. Maybe the first order of business post-closing is to hire an IR firm?
Congratulations to all.
With the passage this weekend of $95 billion in funding for Ukraine, Israel and Taiwan by the House of Representatives, some focus has gone back towards the defense sector, which has generally had a good year as a whole. But, SPACs have not been as active in defense, despite the fact that companies in the...
At the SPAC of Dawn As April’s sleepy month for SPAC news continues, there is only one special meeting on the docket to consider a SPAC deal approval, that being today’s vote on Pegasus Digital Mobility‘s (NYSE:PGSS) combination with equipment manufacturer Schmid. Three more SPACs are facing extension votes this week, including Pyrophyte (NYSE:PHYT), whose...
Terms Tracker for the Week Ending April 19, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Passover and school spring break starts next week, which most likely means a slowdown in SPAC filing activity. Although Churchill IX is now rumored to...
Despite a week of general pull-backs in the market, fintech firm Ibotta (NYSE:IBTA) nonetheless took the dive and had a good week debuting via a traditional IPO in the choppy waters. The company, which provides app-based consumer cashback discounts on purchases, priced its IPO at $88, above its proposed range of $76 to $84, and...
At the SPAC of Dawn Happy Friday! SPACInsider has unveiled new presets on SPAC Performance accessible via the Data drop-down to easily sort for the highest and lowest performing active SPACs and de-SPACs. On the de-SPAC side, Vertiv (NYSE:VRT) continues to be well ahead of the pack, logging a 710% return by share price adjusted...