Arya Sciences Acquisition Corp. II (NYSE:ARYB) announced in an 8-K filing that it has secured shareholder approval for its business combination with biotech company Crevel Therapeutics in a vote held earlier today.
The parties expect to close this transaction October 27 and the shares and warrants of the combined entity are set to begin trading Wednesday, October 28 under the ticker symbols “CERE” and “CEREW,” respectively.
Shares representing 74.78% of the company’s total took part and approved all proposals by wide margins. However, about 15% of shares voted against proposals allowing the combined entity’s board to issue new preferred shares and removing the ability of shareholders to take action via written consent rather than an approved meeting. The filing did not disclose redemption figures.
Arya Sciences II announced its $847 million business combination with Cerevel on July 30. Cerevel is developing a variety of potential treatments for neurological diseases.
For a description all of the proposals voted on at the special meeting, click HERE.