Gobi Acquisition Corp. (GOBI) to Liquidate Trust

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Gobi Acquisition Corp. (GOBI) to Liquidate Trust

Gobi Acquisition Corp. (Nasdaq:GOBI) announced this afternoon that its shareholders have approved its move to shrink its timeline and the SPAC now intends to liquidate its trust.

The Trust Amendment Proposal was overwhelmingly approved with 30,526,358 shares in favor of changing the date of the liquidation with just 783 shares against it. A total of 30,527,141, or 94.7%, of Gobi’s issued and outstanding ordinary shares were present either in person or by proxy at today’s meeting.

Although most SPACs typically hold a shareholder meeting to extend a deadline or approve of a business combination, Gobi filed a proxy about two weeks ago to allow shareholders to decide if it should liquidate early.  A liquidation announcement should now be forthcoming.

Gobi Acquisition Corp priced its IPO nearly a year ago, on June 29, 2021, raising approximately $255 million. It is a 24 month SPAC that originally had a completion deadline of July 1, 2023.