Extension Vote Results: AMCI Acquisition Corp. (AMCI)

proxy vote

Extension Vote Results: AMCI Acquisition Corp. (AMCI)

May 15, 2020 INTEL by Kristi Marvin


This afternoon, AMCI Acquisition Corp. (AMCI), held their shareholder vote to extend their completion deadline six months, from May 20, 2020 to October 20, 2020.  The extension deadline was approved and AMCI will be contributing $0.025 per share per month to the trust, or roughly $373,000 per month

Furthermore, 7,126,888 shares opted to redeem at an estimated per share price of $10.18, resulting in approximately $72.6 million being removed from trust.  That’s ~32.3% redemptions, so $151.9 million will remain, down from $224.5 million prior to the vote.  All things considered, that’s a decent result right now and AMCI now has six full months to close their previously teased combination with an unnamed “established copper mining company”.

Hopefully we get a definitive agreement soon, and a full blown combination announcement, now that AMCI is past the extension vote. Stay tuned…

Vote Results:

You can review the results of all the vote proposals HERE.