Live Oak Acquisition II shareholders voted in favor of the SPaC’s merger with Navitas Semiconductor, the companies announced today.
Approximately 98.4% of the votes cast were to approve the business combination.
While the SPAC did not mention redemptions, if any, in the news release or the subsequent 8-K filing, Live Oak II shares traded consistently above the $10 danger zone up through the Oct. 8 deadline to redeem shares. Live Oak II also secured an additional PIPE and forward-purchase agreement as well as other funding in the final months leading up to the vote.
The transaction is expected to close Oct. 19. Navitas stock and warrants would begin trading the following day on the Nasdaq under “NVTS and NVTSW. Read more.
