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Extension Vote Results: Longevity Acquisition Corp. (LOAC)

proxy vote

Extension Vote Results: Longevity Acquisition Corp. (LOAC)

May 28, 2020 INTEL by Kristi Marvin


On May 22nd, Longevity Acquisition Corp. (LOAC), held their shareholder vote to extend their completion deadline to November 30th, and while LOAC was offering $0.025 per month (for six months) as contribution to trust, redemptions were, once again, on the heavy side.

Per the 8-K, of the 4,000,000 public SPAC shares outstanding, 2,643,178 shares opted to redeem, or approximately 66.1%, resulting in a new estimated current trust value of $14,40,874.06.  Based on those redemptions, there are now 1,356,822 public shares outstanding with an estimated monthly contribution to trust equaling $33,920.55, or $0.025 per share.

As mentioned above, Longevity now has until November 30th, or six months, to announce and close a combination.

You can find the vote results HERE.