Graf Industrial Corp. (GRAF) Closes Velodyne Lidar Combination Following Shareholder Vote

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Graf Industrial Corp. (GRAF) Closes Velodyne Lidar Combination Following Shareholder Vote

Graf Industrial Corp. (NYSE:GRAF) announced this afternoon that it had closed its business combination with autonomous vehicle technology company Velodyne Lidar after shareholders voted to approve the deal earlier in the day.

The combined company’s shares and warrants will begin to trade on the Nasdaq under the symbols “VLDR” and “VLDRW” tomorrow, Wednesday, September 30.

The press release did not disclose the totals for the merger vote or other items on the agenda at the special meeting, but it appears that Graf was able to avoid any bumps in the road unlike some other SPACs this week.

Graf announced its business combination agreement with Velodyne Lidar July 2 and like many of the “deals with wheels” rolling through it has been positively received by the market with shares closing at $24.75.

For all of the proposals voted on in the special meeting click HERE.

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