Friday evening, Easterly Acquisition Corp., a $200 million SPAC, released the results of their shareholder vote to approve their business combination with Sirius International Insurance Group, Ltd. Shareholders approved the combination with 16,436,502 votes “for”, but there were a sizeable number of redemptions. Holders of 10,463,267 shares exercised their right to redeem at a redemption price of approximately $10.49 per share, for an aggregate redemption amount of approximately $109.7 million, or a little more than half the trust value.
Sirius Group has applied to list the Sirius Group common shares and converted warrants on the Nasdaq Stock Market under the symbols “SG” and “SGRP-W,” respectively, effective as of the closing of the Merger. However, the anticipated closing date was not detailed in the 8-K.
| FOR | AGAINST | ABSTENTIONS |
| 16,436,502 | 101 | 0 |
Of the five shareholder votes previously scheduled this week, we only have results for two so far. Hunter Maritime, which we’re currently waiting on tender results to confirm, and Easterly. Results are still outstanding for GTY Technology Holdings (vote to extend), Federal Street (adjourned until Nov. 14th) and Matlin & Partners (adjourned until Friday, Nov. 2nd).
Congratulations to everyone involved in the Easterly/Sirius transaction.
ADVISORS
- Sirius Group is being represented by Sidley Austin LLP
- Easterly is being represented by Hogan Lovells US LLP
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