GigCapital2 stockholders approved all proposals related to the business combinations with UpHealth Holdings and Cloudbreak Health at a special meeting held June 4.
Voting turnout was approximately 65.7% of GigCapital2’s outstanding shares, the SPAC said. GigCapital2 did not disclose redemptions, if any, either in its press release or 8-K filing.
An acquisition by a SPAC typically requires the approval of at least 60 percent of the shareholders and some deals require 80 percent, according to FINRA.
The combined companies would have an enterprise value of $1.35 billion.
The SPAC raised $130 million in an IPO two years ago. Since then GigCapital2 has raised $285 million from institutional investors for its business combinations with the digital healthcare companies. Read more.
