Artisan (NASDAQ:ARTA) announced this afternoon that its shareholders have voted to approve its combination with genomic and diagnostic testing company Prenetics Group Limited in a special meeting held yesterday.
Although today’s 8-K filing did not disclose redemption numbers, ARTA traded above its trust value throughout its redemption deadline May 5, and saw a high of $10.10 yesterday.
A total of 28,205,766, or 64.22%, of Artisan’s issued and outstanding ordinary shares were present at yesterday’s special meeting. The business combination was overwhelmingly approved with 27,309,556 votes in favor of the transaction, and just 895,867 against it.
The SPAC recently made several amendments to the deal which covered a range of agreements, including the business combination, the sponsor agreement, the PIPE subscription, deeds of novation and forward purchase agreements (FPA), the sponsor agreement, and the shareholder support agreement.
The parties expect to close the deal on Wednesday, May 18, 2022. The combined company’s shares and warrants are expected to begin trading on the Nasdaq Stock Market under the symbols “PRE” and “PRENW,” respectively, on Wednesday, May 18, 2022.
Artisan initially announced its $1.25 billion combination with Prenetics on September 15, 2021. Hong Kong-based Prenetics is a global leader in genomic and diagnostic testing that is decentralizing healthcare with a focus on prevention, diagnostics and personalized care.
- UBS Securities LLC is acting as sole financial advisor and exclusive capital markets advisor to Artisan.
- Citigroup Global Markets Asia Limited is acting as sole financial advisor to Prenetics.
- UBS Securities LLC, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and China International Capital Corporation Hong Kong Securities Limited are serving as placement agents on the PIPE.
- Skadden, Arps, Slate, Meagher & Flom LLP is serving as international legal counsel, and Mourant is serving as Cayman legal counsel, to Prenetics.
- Kirkland & Ellis LLP is serving as international legal counsel, and Appleby is serving as Cayman legal counsel, to Artisan.
- Shearman & Sterling LLP is serving as international counsel to the placement agents.
- KPMG LLP is serving as the auditor to Prenetics.