Pure Acquisition Corp. (PACQ) Releases 2nd Extension Vote Info
This afternoon, Pure Acquisition Corp. (PACQ), released the results of today’s shareholder vote to approve their new extension deadline from February 21st, 2020 to May 21, 2020, and as expected, the extension was approved.
Per the 8-K, only 2,189,801 of the Company’s Class A Common Stocked elected to redeem, out of approximately 37,806,000 public shares. That means the new public shareholder count should be 35,616,199. However the redemption value was unfortunately not provided, but the remaining trust value should be somewhere near ~$370 million. Hopefully the estimated per share redemption price will be provided shortly in an additional filing.
In the meantime, Pure’s tender offer to purchase 3,158,195 Public Warrants at $1.00 is still ongoing and will not close until 11:59 p.m., Eastern Time, on March 31, 2020.
You can review the results of the vote HERE, but a summary has also been provided below.