Trebia Acquisition shareholders voted in favor of the business combination wit System1, an omnichannel customer acquisition marketing platform.
Approximately 93.57% of the votes cast at the meeting were in favor of the deal with 68.63% of Trebia’s outstanding shares voting, the SPAC said in a news release.
At closing, System1 common stock is expected to trade on the New York Stock Exchange under the ticker symbol SST.
Neither the press release nor a subsequent 8-K filing mentioned redemptions, if any. Regardless, the SPAC had secured up to a $250 million backstop and management said last week they would cover 100% of any redemptions to ensure the deal would close.
As announced in June, System1 is expected to receive about $175 million to fund growth and acquisitions. Read more.
