Thoma Bravo Advantage said its shareholders voted in favor of the proposed business combination with ironSource, a business platform for the App Economy.
More than 96% of the votes cast at the meeting voted to approve the business combination. Holders of approximately 86% of TBA’s issued and outstanding shares cast votes.
Announced in March, the deal includes $1 billion in cash held in the SPAC’s trust account, supported by a $1.3 billion oversubscribed Class A ordinary share PIPE.
The SPAC in an 8-K filing noted that 18.25 million shares were redeemed in connection with the vote. Thoma Bravo had already committed to purchase additional ironSource shares in the event redemptions exceeded $150 million. The SPAC’s sponsor has agreed to invest approximately $32.5 million in ironSource at the consummation of the transactions on the same terms and conditions as other PIPE investors.
The combined company will retain the ironSource name and is expected to begin trading on the NYSE under IS on June 29. Read more.