As yet another reminder of the changing nature of SPACs and their shareholder base, and the new risks involved with a shareholder vote, Collective Growth (CGRO) is currently facing its own “shortage” of shares that are participating in its vote tomorrow to complete its combination with Innoviz.
Of the 42.5% that have already voted, 99% have voted yes. The problem is, CGRO needs to meet the threshold of a quorum by getting that number to 50%. As a reminder, if you owned Collective Growth (NASDAQ: CGRO) stock on March 4, 2021, you are eligible to vote.
This is a very similar situation to Switchback Energy, which had just 45% of shares outstanding participating before needing to adjourn its meeting while trying to complete it’s combination with ChargePoint. Both Landcadia II and Forum Merger II had the same problem with their own votes.
There’s a lot of talk about “disruption”, but frankly, the proxy solicitation process seems especially ripe right now for someone to fix situations such as this. Particularly since so many new retail investors have had trouble navigating the shareholder vote process on their trading platforms.
Below is some additional information if you need help with voting.
Electronic voting platforms are open until 11:59 p.m., Eastern time tonight.
Or, you can call D.F. King & Co., Inc., Collective Growth’s proxy solicitor, toll-free at (800) 515-4479.
Email CGRO@dfking.com with any questions on how to vote.


At the SPAC of Dawn Lately de-SPACs have been announcing corporate moves of a kind frequently in trios as was the case earlier this week when WeBull (NASDAQ:BULL), AST SpaceMobile (NASDAQ:ASTS) and Quantum-Si (NASDAQ:QSI) all announced major equity raises. This week, it is a trio of de-SPACs making reverse stock splits in unison, which is...
A look at Plus’ software-first approach to autonomous trucking. After years of investment and excitement, the dawn of self-driving cars and trucks is now here. The question now is which business model among autonomous driving technology companies will win out? This week, we speak with David Liu, CEO of autonomous trucking company Plus. Plus announced...
At the SPAC of Dawn One thing that SPAC investors can typically count on while their money is invested in a SPAC’s trust is that it is going to grow one way or the other between now and their next redemption opportunity, but the devil can occasionally be in the details. In 2024, it became...
Thunderstone has filed for a $50 million SPAC to put a new first-time Asia-based team in action on a generalist hunt. The new SPAC is offering investors a right to a 1/8 share in each unit with 18 months to initially complete a business combination. It is the 8th fresh S-1 filed with underwriter D....
At the SPAC of Dawn In a trading session that may find itself built around the release of Fed minutes at 2 pm ET this afternoon, a pair of SPAC targets have added their own fresh information to the mix. Enterprise AI firm Fusemachines, which has a pending combination with CSLM (OTC:CSLMF), put out a...