KINS Technology Group in an 8-K said its shareholders voted in favor of merging with Inpixon, a platform offering a suite of workplace experience solutions including an enterprise workplace application, events platform, indoor mapping and augmented reality technologies.
Redemptions ahead of Kins extension votes over the last nine months erased almost 97% of the SPAC’s cash in trust. Following that, because the sponsor’s 6.15 million Founder Shares represented approximately 84.39% of the total voting power of the SPAC going into the vote, the merger was expected to win approval.
Kins in the 8-K did not disclose whether there were addition redemptions ahead of the merger vote.
Announced in September, the deal was initially valued at $69 million. Read more.
