Capitol Investment Corp. IV (CIC) Releases Shareholder Vote Info

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Capitol Investment Corp. IV (CIC) Releases Shareholder Vote Info

Jul 18, 2019 INTEL by Kristi Marvin

This morning, Capitol Investment Corp. IV (CIC), released the details of their shareholder vote to approve their combination with Nesco Holdings. However, once again, no details on redemption counts, or at what price, were provided.  Additionally, we still do not have a press release announcing when closing will occur or any symbol changes.

What was provided were the vote counts.

FORAGAINSTABSTAINBROKER NON-VOTES
38,638,1135,201,75500

As you can see, even though a solid number of votes were counted in the “Yes” column, there were a surprising number of “No” votes too, or approximately $52 million worth. However, only the following sentence was provided in regards to redemption amounts:

“The number of holders of Capitol public shares exercising redemption rights in connection with this vote did not result in Capitol having less than $5,000,001 of net tangible assets after giving effect to all holders of public shares that properly demand redemption of their shares into cash.”

This isn’t very helpful.  Unfortunately, we’ll have to wait for additional filings to see what this float actually looks like.

You can read the full results HERE.

 

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