TPG Pace Solutions shareholders voted in favor of merging with vacation rental management platform Vacasa Holdings. The announcement was expected after TPG Pace said two days ago it had sufficient votes in hand to seal the deal.
The transaction is expected to close Dec. 6. Vacasa stock is expected to start trading on the Nasdaq under VCSA on Dec. 7.
As announced in July, the transaction would capitalize the business with approximately $485 million in cash. However, redemption numbers were not disclosed either in the news release or a subsequent 8-K filing, which notes a minimum cash condition of $300 million — including the SPAC’s trust and a PIPE — to close the deal. TPG Pace in the filing said shareholders who redeemed shares may reverse their decision until 5 p.m. Dec. 3. Read more.
