DHC Acquisition in a regulatory filing said its shareholders voted in favor of merging with Brand Engagement Network (BEN). The SPAc noted that 9,249,551 shares were cast in support of the deal, with 10,827 against.
BEN is a provider of personalized customer engagement AI technology and human-like AI avatars.
DHC added that 1,923,656 Class A ordinary shares were redeemed, which would pull the trust down to about $1.6 million.
There was approximately $22,152,841.56 in DHC’s trust going into the vote and its stock was trading at $10.67 per share, according to the filing.
The SPAC has said it may also raise additional financing through a PIPE or other means.
The deal was announced in September at a pro-forma enterprise value of $358 million.
Existing BEN shareholders are expected to roll 100% of their equity, and will own about 63% of the fully diluted shares of the combined company.
DHC raised $300 million in an IPO three years ago. Read more.
