Jupiter Wellness Acquisition in an 8-K announced that its shareholders voted yesterday in favor of combining with China-based EV maker Chijet.
The vote had been postponed April 20. During the interim, Jupiter Wellness secured a non-redemption agreement covering 530,000 shares, more than half of which are held by the SPAC’s sponsor, according to a filing.
There was no mention of redemptions, if any, ahead of the merger vote, nor did the SPAC give a timeline to close.
Jupiter Wellness is not the first SPAC to attempt taking Chijet public.
Jupiter’s deal announcement in October came less than a month after Deep Medicine Acquisition, called off a merger with the EV maker. That deal was valued at $2.6 billion when announced last July. No reason was given for the termination, although Deep Medicine had twice extended the time period for its due diligence on the EV automaker. Read more.
