Alkuri Global Acquisition Corp. (NASDAQ:KURI) announced in an 8-K filing today that it secured shareholder approval of its combination with digital healthcare company Babylon in a special meeting held this morning.
Although KURI did not disclose its redemption numbers, it traded slightly above $10 throughout its redemption deadline October 18 and reached $10.02 today. The business combination received 30,577,965 votes in favor of the deal and 1,242,574 against it.
The deal is expected to close tomorrow, October 21, and the combined company’s shares and warrants are expected to begin trading on the New York Stock Exchange under the symbols “BBLN” and “BBLN.W,” respectively, Friday, October 22.
Alkuri Global and Babylon initially announced the $3.6 billion deal on June 3. London-based Babylon provides digital self-help care tools and telemedicine services to patients in North America, Europe and Asia and engaged with a patient once every five seconds in 2020.
Earlier this month, Babylon secured a sustainability-linked investment of up to $200 million from Albacore Capital Group, a strategic capital investment firm.
All other proposals were approved at today’s special meeting. For a full list of tallies and proposals, you may click here.
ADVISORS
- Ardea Partners LP is serving as financial advisor to Babylon.
- Citi is serving as financial and capital markets advisor to Babylon.
- Wilson Sonsini Goodrich & Rosati, P.C., Allen & Overy LLP and Walkers (Jersey) LLP are serving as legal counsel to Babylon.
- Jefferies is serving as exclusive financial advisor to Alkuri Global.
- Winston & Strawn LLP is serving as legal counsel to Alkuri Global.
- Jefferies, Citi and Pareto Securities AB served as placement agents on the PIPE.
At the SPAC of Dawn As we close out Passover and head into Easter weekend, we’re reminded that even the most hopeless situations, like wandering the desert for 40 years, being dead for three days, or trying to close a DeSPAC with zero redemptions in this market, can eventually turn around. After all, SPACs have...
Globa Terra Acquisition Corporation (NASDAQ:GTERU) has filed for a $152.2 million SPAC to find an agriculture or food-tech target company The new SPAC is overfunded to 100.5% and is set to have both a 3/4 warrant and right to a 1/20 share in each of its units. This vies for the most investor-friendly unit coverage of...
EGH Acquisition Corp. (NASDAQ:EGHAU) has filed for a $150 million SPAC to continue the work of the Tortoise serial SPAC team under a fresh name. The new SPAC is not overfunded and will have one right to a 1/10 share in each of its units. It will have 24 months to initially close a business...
Yorkville Acquisition Corp. has filed for a $150 million SPAC to bring the sponsor’s experience in SPAC investing to a search for a technology, media or telecom target. The new SPAC is overfunded to 100.5% with $10.05 per unit in trust initially. Each unit is set to contain a 1/3 share and it will have...
At the SPAC of Dawn This week’s trading comes to an end later today as the US exchanges will observe the Good Friday holiday (but the SEC’s EDGAR filing system will not). Dow futures ahead of this session remain in the red although both the S&P 500 and Nasdaq look to make up some losses...