AEA-Bridges Impact Corp. (IMPX) Shareholders Approve LiveWire Deal

AEA-Bridges Impact Corp. (NYSE:IMPX) announced in an 8-K this afternoon that its shareholders approved its combination with Harley-Davidson’s (NYSE:HOG) electric motorcycle division LiveWire at a special meeting held earlier today.

Holders of 35,761,579 ordinary shares were present in person or by proxy at today’s meeting, representing approximately 71.52% of IMPX’s voting power. The deal was approved with 33,591,921 votes in favor of it and 2,162,927 against the transaction.

The 8-K did not disclose redemption numbers, but IMPX traded below its trust value of $10 throughout its redemption deadline September 14.  IMPX climbed 4.42% today, closing at $10.15, but is currently down 1.48% to $10 in after-hours trading, while HOG fell 0.95% today and closed at $40.71.

Nonetheless, the parties now expect to close the deal on September 26. Following the consummation of the transaction, the combined company’s common stock and warrants are expected to begin trading on the NYSE under the symbols “LVWR” and “LVWR WS,” respectively, on September 27.

AEA-Bridge Impact announced its $1.77 billion combination with LiveWire on December 13, 2021. Milwaukee-based LiveWire plans to draw on its DNA as an agile disruptor from the lineage of Harley-Davidson to capitalize on a decade of learnings in the EV sector.

All other proposals on the ballot, such as the charter proposal, governing documents, and the incentive plan, were also approved at today’s meeting.

ADVISORS

• J.P. Morgan Securities LLC is serving as financial advisor to Harley-Davidson, and Latham & Watkins LLP is serving as legal counsel.
• Credit Suisse Securities (USA) LLC is serving as financial advisor and capital markets advisor to ABIC.
• Citigroup Global Markets Inc. is serving as capital markets advisor to ABIC.
• Kirkland & Ellis LLP is acting as legal counsel to ABIC.