LEISURE ACQUISITION CORP. (LACQ)
This afternoon, Leisure Acquisition Corp. (LACQ), released the details of their shareholder vote to approve extending their deadline four months from December 5, 2019 to April 5, 2020. This was a fairly straightforward extension vote with an attractive $0.03 contribution to trust per month, so unsurprisingly, there were minimal redemptions.
Per today’s 8-K, out of 20,000,000 public shares outstanding only 1,123,749 shares opted to redeem, leaving 18,876,251 shares remaining. A redemption price per share was not given, however, the 8-K did state that the total aggregate value of those redemptions was $11.6 million. Furthermore, the filing also stated that the amount remaining in trust is now $194.6 million, so using those figures we can estimate that the per-share redemption price was roughly $10.31.
Leisure now has four additional months to bring back a combination. Let’s hope it a good one.
Vote results below.