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Schultze Special Purpose Releases Extension Vote Results

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Schultze Special Purpose Releases Extension Vote Results

This afternoon, Schultze Special Purpose Acquisition Corp. (SAMA), announced that shareholders have approved moving their deadline to September 30, 2020, with only 7,500 shareholders voting against.  Additionally, Schultze Special Purpose also revealed that only 34,868 shares opted to redeem, but unfortunately did not state what the actual redemption price was.  We’ll have to wait for that in a separate filing.

Schultze now has an extra 3.5 months to complete their combination, but first, they need to announce a definitive agreement with Clever Leaves. Currently, Schultze and Clever Leaves have only signed a non-binding LOI.  However, based on the sheer amount of information on the intended transaction that was released in their teaser, a definitive announcement is very close.  As a reminder, Schultze will not be making any contributions to trust for non-redeeming shareholders at this extension vote.

You can find the filed 8-K results HERE.