I-AM Capital Releases Incredibly Vague Results of Shareholder Vote

I-AM Capital Acquisition Company (IAM) announced the results of their shareholder vote yesterday evening.  However, the term “results” should probably be used loosely since there wasn’t a whole lot of information included in it. There was no detail as to the number of shares that redeemed, the redemption price or even how much cash was left in trust.  All it did was give actual vote counts, which doesn’t really tell us a lot since you can still vote yes and redeem your shares.

Even better was how they phrased when the transaction will close:  “The Company expects the business combination to close within the next week or so, subject to customary closing conditions.“

So basically this press release was useless.  The results for the combination are below and you can click here to read the 8-K, but it looks like we’ll have to wait for additional filings like a 10-Q to get real facts.