Opes Acquisition Corp. (OPES) Releases Extension Vote Results

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Opes Acquisition Corp. (OPES) Releases Extension Vote Results

Jun 19, 2020 INTEL by Kristi Marvin

Yesterday, June 18th, Opes Acquisition Corp. (OPES), held their shareholder vote to extend the SPAC’s maturity date by three months from June 18th to September 16th, giving them more time to close their intended transaction with BurgerFi. OPES released their extension vote results today, showing unanimous approval of the proposals and zero redemptions tied to the extension vote. This is a very strong result, but unsurprising given yesterday’s close price of $18.55, which is well above the estimated current cash in trust value.

Now that Opes has an additional three months to close their combination, we should see the current non-binding LOI with BurgerFi move to a definitive agreement so OPES can officially announce this intended combination.

SPAC Redemption Table