TPG Pace Holdings (TPGH) Releases Extension Vote Info
by Kristi Marvin on 2019-09-20 at 4:53pm

Early this afternoon, TPG Pace Holdings Corp. (TPGH), released the details of their shareholder vote to approve their new extension deadline and the results were 100% in favor of extending.  In fact, I don’t ever recall a SPAC vote (off the top of my head) where 100% percent of voters checked off the “yes’ box. However, there were some redemptions, but as a result of today’s vote, TPGH will now have until December 31, 2019, to close their transaction with Accel Entertainment.

RESULTS

Per the 8-K, 3,247,267 of the Company’s Class A Ordinary Shares elected to redeem at a price of $10.29 share, which resulted in $33.4 million being removed from the Trust Account leaving approximately $429.7 million remaining.  As a reminder, TPGH will not be contributing any additional capital to trust for shareholders who did not redeem.

Additionally, TPGH recently filed their preliminary proxy/S-4 (September 5th), so a shareholder vote to complete will hopefully occur well before December 31st, but this extension gives them some cushion.  Look for a new proxy early to mid-October.

You can review the results of the vote HERE, but a summary has also been provided below.

 

The Extension Amendment:

 

FORAGAINSTABSTAINBROKER NON-VOTES
46,892,22200N/A
TPG Pace Holdings (TPGH) Releases Extension Vote Info
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