VPC Impact Acquisition Holdings shareholders voted in favor of the business combination with digital asset marketplace Bakkt Holdings.
Approximately 85.1% of the votes cast at the meeting were in suppoort of the deal, the SPAC said in a news release.
VPC Impact in an 8-K filing disclosed that 8,452,042 shares were redeemed ahead of the vote, leaving approximately $122.9 million in the trust account.
The SPAC said yesterday before the vote that it expects Bakkt will receive about $447 million of gross proceeds, including $325 million in committed funding from a PIPE, plus the remaining cash in trust. That’s down 11% from the $500 million in proceeds originally expected when the deal was announced in January.
The deal is expected to close today.
Bakkt stock and warrants are expected to begin trading Oct. 18 on the NYSE under BKKT and BKKT WS. Read more.
