Early this afternoon, Opes Acquisition Corp. (OPES), released the details of their shareholder vote to approve their extension deadline from January 15, 2020 to February 15, 2020, or March 15, 2020, if they need to extend an additional 30 days further. And the results were pretty good. In fact, only 18,133 shareholders opted to redeem, or less than 1% of it’s shareholders heading into the vote.
Per the 8-K, 18,133 of the Company’s common stock elected to redeem at a price of $10.52 share, which resulted in only $190,800 being removed from the Trust Account. Furthermore, approximately 8,971,113 public shares will remain issued and outstanding, which means that the Trust Account is now currently estimated to hold $94.4 million, down from their estimated $94.6 million held in trust before the vote.
Additionally, the Company’s Sponsor will be contributing $291,561 to the trust, or $0.0325 for each public share that was not converted in connection with the Extension for each 30-day extension, or $0.065 for both months.
This was a great extension vote result, so let’s see if Opes can keep it moving and follow it up with a winning announced deal.
You can review the results of the vote HERE.