Venus Acquisition in an 8-K announced that 97% of shares were voted in favor of combining with VIYI Algorithm.
After three merger deadline extensions, nearly 99% of the SPAC’s shares had been redeemed by last week’s deadline. Venus has a $15 million backstop with WiMi Hologram Cloud, which is VIYI’s parent company, to offset redemptions.
At deal announcement in June 2021, terms called for a valuation of VIYI Algo and its subsidiaries and businesses of $400 million. Read more.
