Star Peak Energy Transition in an 8-K filing said shareholders voted in favor of the SPAC’s proposed merger with Stem, which designs and manufactures clean energy storage systems.
The deal values the combined company at a $1.35 billion.
The SPAC said nearly 60 percent of eligible shares were voted. There were 19,804 shares redeemed for approximately $10.13 per share, a peculiar move considering Star Peak opened just north of $26 a share before the April 27 vote. Read more.
