Cerberus Telecom Acquisition announced that the shareholder meeting originally scheduled for today to vote on the SPAC’s proposed merger with KORE Wireless will instead be held Sept. 22.
The SPAC in the news release said 90.39% of its public shareholders had redeemed their shares. Cerberus plans to continue to solicit proxies from public shareholders until the rescheduled meeting.
When announced in March, the deal valued KORE at about $1 billion and the transaction was expected to provide approximately $484 million in cash to the combined company, including a $225 million PIPE. Read more.
