Tortoise Acquisition II shareholders voted to approve the business combination with Volta Industries, which operates electric vehicle charging networks across 24 territories and states.
Approximately 96% of the votes cast on the business combination were in favor of the deal, the SPAC said.
In an 8-K filing the SPAC said redemptions ahead of the vote came to more than $242 million, which is more thn 70% of the SPAC’s roughly $345 million in trust raised in a September 2020 IPO, including the underwriters’ exercise of an over-allotment option.
Subject to the satisfaction or waiver of closing conditions, the deal is expected to close today. Volta stock and warrants are expected to begin trading Aug. 27 on the NYSE under VLTA and VLTA WS. Read more.
