LiveVox Holdings, a cloud-based provider of customer service and digital engagement tools, today announced that it completed its business combination with Crescent Acquisition.
The company will operate as LiveVox Holdings, and its Class A common stock, units and warrants will trade on the Nasdaq under LVOX, LVOXU and LVOXW, respectively, beginning June 22.
LiveVox will receive approximately $123 million on the deal.
Cresecent in an 8-K filing last week said more than 15.3 million shares were redeemed ahead of the vote. At a redemption price of approximately $10 per share, that wiped out more than 61 percent of the SPAC’s cash in trust. Cresecent raised $250 million in a March 2019 IPO.
As a result of the redemptions, the SPAC and LiveVox agreed to waive the $250 million minimum cash condition that was part of the deal. Read more.
