Hainan Manaslu Acquisition in an 8-K said its shareholders approved the business combination with Able View, a cross-border brand management company.
While shareholders overwhelmingly supported the merger, redemptions of more than 98% left the SPAC with about $1.4 million in trust. Hainan Mansalu said it will continue to accept redemption reversals and intends to close the deal as soon as possible.
Hainan Manaslu raised $69 million in an August 2021 IPO.
At announcement in November 2022, the deal with China-based Able View had a $400 million equity value. Read more.
