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Hainan Manaslu Shareholders Approve Able View Merger as Redemptions Nearly Wipe Out Trust

August 4, 2023
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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.

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