VT5 Acquisition, a SIX-listed Swiss SPAC, received strong support from its shareholders for the proposed business combination with R&S International Holding AG as an overwhelming majority voted in favor of the acquisition with 99% of all votes cast. The acquisition is a supplier of electrical infrastructure components in Switzerland and international markets.
VT5 reported that 7,059,798 Class A Shares were tendered in the repurchase offer. As a result, VT5 will pay CHF 10.003328 from its trust account for each Class A Share redeemed. Payment of the repurchase price will be made on a delivery-versus-payment basis and is expected to occur Dec. 13.
The deal was announced in October.
R&S Group is headquartered in Sissach, Switzerland, between Zurich and Basel. Its six production sites in Switzerland, Italy, Poland, and the Middle East supply home markets and European export markets. VT5 aims to complete the transaction by the end of the year and is planning a capital increase, it added.
VT5 was listed on the SIX in December 2021. Read more.
