NEBULA ACQUISITION CORP. (NEBU)
Earlier today, Nebula Acquisition Corp., held their shareholder vote to extend their completion deadline five months from January 12, 2020 to June 12, 2020, and the results were overwhelmingly positive. In fact, there were zero shares redeemed at this vote and all of the shares that voted, were voted “Yes”. There were zero “No” votes and zero “Abstentions”.
Nebula, which recently announced their transaction with Open Lending LLC, had stated in their proxy that it was not contributing any additional funds to trust for those additional five months and those preliminary proxies were filed BEFORE announcing their transaction with Open Lending. So basically, they knew they had a good deal and wouldn’t need to. Consequently, the share price is trading significantly above trust, so shareholders were more than willing to hold through the extension vote (or sell into the market).
This is the best situation to be in at an extension vote and as a result, Nebula now has until June 12th to close its deal at no additional cost to the sponsors.