VG Acquisition said its shareholders voted to approve the merger agreement with consumer genetics and research company 23andMe.
More than 87 percent of the votes cast were in favor of the merger, the SPAC said.
The deal values the outstanding shares of 23andMe at an aggregate enterprise value of approximately $3.5 billion. The pro forma cash balance of the combined company will exceed $900 million at closing.
The transaction is expected to close June 16, when New 23andMe stock and warrants will be listed on the Nasdaq. Trading is expected to begin June 17 under ME and MEUSW for stock and warrants, respectively..
