Amplitude Healthcare Acquisition’s stockholders voted in favor of the business combination with biotech company Jasper Therapeutics. However, redemptions were substantial.
AMHC said its shareholders approved the deal with 74.9% of the votes in favor out of approximately 9.9 million votes cast. The SPAC noted that about 9.3 million shares were redeemed.
As a result of the redemptions, the SPAC said Jasper has agreed to waive the $130 million minimum cash requirement in AMHC’s trust account.
Announced in May, the original terms called for Jasper to receive the SPAC’s $100 million cash in trust and a $100 million concurrent PIPE.
The deal is expected to close tomorrow. Following the closing, Jasper Therapeutics will begin trading Sept. 27 on the Nasdaq. Read more.
