Apollo Strategic Growth Capital in a regulatory filing said shareholderrs voted overwhelmingly to approve the business combination with Amex Global Business Travel. There were 70,615,819 votes in favor of the merger, with 2,732,881 opposed.
No word on redemptions if any, although the SPAC traded under $10 up through the redemption deadline and closed yesterday at $7.94.
The deal is expected to close tomorrow and the travel platform would list on the NYSE under new ticker symbol GBTG.
As announced in March, combined enterprise was expected to have a pro forma market capitalization of $5.3 billion.
The transaction is expected to provide up to approximately $1.2 billion in gross proceeds, comprised of the SPAC’s approximately $817 million of cash in trust (depending on any redemptions) and an upsized $335 million fully-committed PIPE. Read more.
