Supernova Partners Acquisition stockholders voted in favor of the SPAC’s merger with real estate platform OfferPad, the company disclosed in an 8-K filing.
The numbers show 93% of the voted shares were in support of the acquisition. There was no mention of redemptions, if any. The SPAC’s shares have not traded above $10 since April 23 and closed yesterday, the day of the vote, at $8.99. The deal was announced in March.
At the time of announcement, terms called for up to $650 million in gross cash proceeds to the combined company, including up to $403 million of cash held in Supernova’s trust account, a fully committed $200 million common stock PIPE and a $50 million direct investment by affiliates of Supernova. Read more.
