Novus Capital II today announced that stockholders voted in favor of the business combination with Energy Vault, which develops sustainable, grid-scale energy storage solutions.
Neither the SPAC’s news release nor an 8-K outlining details of the vote mentioned redemptions, if any. Although Novus Captial II shares have been trading below the trust value since before the redemption deadline, the SPAC held a $200 million PIPE and $287.5 million in trust.
As announced in September, the transaction was expected to provide up to $388 million in gross cash proceeds to Energy Vault.
The business combination is expected to close Feb. 11, the SPAC said. Energy Vault Holdings stock and warrants are expected to begin trading on the New York Stock Exchange on Feb. 14 under the new ticker symbols NRGV and NRGV WS. Read more.
