Mobiv Acquisition today announced that its stockholders voted to approve the business combination with SRIVARU. The acquisition is a commercial-stage provider of premium electric motorcycles.
More than 96% of the votes cast at the Special Meeting voted to approve the business combination.
Mobiv Acquisition said earlier this week that 5,530,395 Class A shares, representing 97.5% of shares outstanding, were redeemed ahead of the stockholder vote. Redemptions ahead of an extension vote in July removed nearly $46 million from the Mobiv trust.
As of the close of business yesterday, stockholders who did not redeem or reversed their redemptions, fully or partially, held 195,992 shares. These holders would be entitled to a pro-rata portion of the 2.5 million bonus shares pool the SPAC set in reserve.
Once all closing conditions are satisfied, SRIVARU shares and warrants are expected to begin trading on the Nasdaq under new ticker symbols SVMH and SVMHW. Read more.
