OTR Acquisition Corp. (NASDAQ:ORTA) filed an 8-K this afternoon with the results of its shareholders vote to approve its combination with biotech firm Comera Life Sciences in a special meeting held on Tuesday.
The business combination was overwhelmingly approved as it saw 9,675,143 votes in favor of the transaction and just 177,849 against it. But, today’s 8-K filing disclosed that holders of an aggregate of 10,279,363 shares of ORTA exercised their right to redeem their shares, removing 98.392% of the SPAC’s trust.
The parties did not disclose an exact timeline for the closing of the business combination, but it is expected to be completed shortly. Following the closing, the combined company is expected to trade on the Nasdaq.
OTR initially announced its $151.3 million combination with Comera on January 31, 2022. The Woburn, Massachusetts-based company utilizes formulation science and technology to transform essential biologic medicine from IV to subcutaneous forms.
The company’s stockholders also approved the Charter Amendment Proposal and the Equity Incentive Award Plan Proposal during Tuesday’s special meeting.
ADVISORS
- Maxim Group LLC served as sole financial and capital markets advisor to Comera in connection with the business combination agreement.
- Loeb & Loeb LLP is serving as legal counsel for Comera, and Greenberg Traurig LLP is serving as legal counsel for OTR
Despite a week of general pull-backs in the market, fintech firm Ibotta (NYSE:IBTA) nonetheless took the dive and had a good week debuting via a traditional IPO in the choppy waters. The company, which provides app-based consumer cashback discounts on purchases, priced its IPO at $88, above its proposed range of $76 to $84, and...
At the SPAC of Dawn Happy Friday! SPACInsider has unveiled new presets on SPAC Performance accessible via the Data drop-down to easily sort for the highest and lowest performing active SPACs and de-SPACs. On the de-SPAC side, Vertiv (NYSE:VRT) continues to be well ahead of the pack, logging a 710% return by share price adjusted...
AGBA (NASDAQ:AGBA) stock is up over +90% this morning following a +211% premarket spike on news it has signed a definitive agreement to combine with social streaming video platform Triller. AGBA, the company itself, was formed by the $555 million combination between a SPAC of the same name and TAG Companies, a financial services firm...
At the SPAC of Dawn Since closing its combination with DHC last month, AI customer engagement firm BEN (NASDAQ:BNAI) has rolled out new partnerships with call center and healthcare clients. And, while it faces a fair bit of competition in the chatbot realm, several high-profile institutions have demonstrated that creating one that provides useful services...
Blue Ocean (NASDAQ:BOCN) provided significantly more texture today in the presentation for its $275 million combination with Asian digital media group TNL Mediagene, which it expects to hit profitability in the second half of the year despite a slight shakeup in financing for the transaction. The first big update in the first investor deck is...