Legacy Acquisition Corp. (LGC) Releases Extension Vote Info

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Legacy Acquisition Corp. (LGC) Releases Extension Vote Info

Oct 23, 2019 INTEL by Kristi Marvin

Early this morning, Legacy Acquisition Corp. (LGC), released the details of their shareholder vote to approve their new extension deadline and 100% of the shares that voted, voted “Yes”.  Additionally, only 694,820 shares elected to redeem. That’s pretty good.  As a result, an aggregate of $7,108,742.34 (or approximately $10.23 per share) will be removed from the Company’s trust, leaving approximately $299.8 million.  Post-vote, approximately 29,305,000 public shares will remain issued and outstanding.

Legacy now has until December 21, 2019, to complete their business combination. However, Legacy can extend for five additional 30-day periods to May 21, 2020. Legacy will make their first cash contribution to the trust account in an amount equal to $0.03 for each public share that was not redeemed, starting approximately November 21st, which was their previous deadline.

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

The Extension Amendment:

 

FORAGAINSTABSTAINBROKER NON-VOTES
58,700,1212,547,135 107,700N/A

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