ION Acquisition shareholders voted to approve the previously announced business combination with Taboola.com. Approximately 99% of the votes cast at the meeting voted to approve the transaction, the SPAc said in a press release.
Holders of approximately 7% of outstanding Class A Ordinary Shares exercised redemption rights. The SPAC did not cite the precise number of shares redeemed.
Announced in January. the deal consists of the SPAC’s $259 million in trust and approximately $285 million in primary and secondary PIPE financing from institutional investors secured by Taboola.
Taboola is perhaps best known for its “chumbox advertising” at the bottm of web pages, offering recommendations for site visitors. Read more.
