Extension Vote Results: Tenzing Acquisition Corp. (TZAC)

proxy vote

Extension Vote Results: Tenzing Acquisition Corp. (TZAC)

May 21, 2020 INTEL by Kristi Marvin


Earlier today, Tenzing Acquisition Corp. (TZAC), held their shareholder vote to extend their completion deadline to July 27th, with an option to further extend an additional two months, if they need to.

The extension was approved and Tenzing will now contribute $0.066, or $210,836.34, to trust for non-redeeming shareholders through July 27th.  If Tenzing needs more time to close a combination, they will contribute an additional $0.033 per share per month to trust, for two additional months through September 28th.

However, 2,534,624 public shares opted to redeem at the vote at an estimated per share price of $10.6460581, resulting in approximately $26.98 million being removed from trust. 3,130,510 public shares remain with a current trust value of $34,008,726 (excluding the contribution).

The 8-K has not been filed yet, but you can find the press release HERE.