Pure Acquisition Corp. (PACQ) Releases Extension Vote Info
This afternoon, Pure Acquisition Corp. (PACQ), released the results of their shareholder vote to approve their new extension deadline from October 17th, 2019 to February 17, 2020, however there wasn’t a lot of detail included in the 8-K. Additionally, the results of the Tender Offer for the Warrants has unfortunately not been filed as of yet. However, as expected, the extension was approved.
Per the 8-K, 3,594,000 of the Company’s Class A Common Stocked elected to redeem, out of a total available 41,400,000 public shares. That means the new public shareholder count should be 37,806,000. However the redemption value was unfortunately not provided, but if we assume the redemption at vote was $10.23 per share, then approximately $36.77 million was removed from Trust leaving ~$386.8 million.
Hopefully additional details will be provided in additional filings soon, but until then this is what we have to go on. The results of the Tender Offer should be filed tonight or tomorrow so an update on that will be provided as soon as it’s available