Lakeshore Acquisition II in a regulatory filing said its shareholders voted in favor of merging with Nature’s Miracle, a provider of hardware and software to design, build and operate various indoor growing settings including greenhouse, vertical farming and indoor-growing spaces.
Support for the deal was overhelming, with 3,049,605 shares voted in favor and just 1,000 against. However, the redemption of 1,246,563 shares left the SPAC with approximately $1.12 million in trust. Lakeshore II raised $69 million in an IPO almot two years ago.
Lakeshore II had issued promissory notes of $160,000 to Nature’s Miracle for funding to cover extension deposits.
The SPAC in April last year secured a standby equity purchase agreement with YA II PN, Ltd. (Yorkville) for up to $60 million in stock.
The 8-K announcing the vote results did not include a timetable for when the deal might close. Read more.
