If shareholders vote against the proposed transactions, the business combination will not be completed. All redemption requests will be cancelled and VTAC will be liquidated. Those who want to redeem money put in at the time of the IPO two years ago need to submit their redemption form by Nov 28.
As the Dec 1 extraordinary general meeting (EGM) for Vertex Technology Acquisition Corp (VTAC) (SGX:VT1
) draws near, its target company — pure-play live-streaming platform 17LIVE — has ramped up on showcasing the company’s creator-focused business model. Besides webinars and online demos, it also organised its first offline event in Singapore on Nov 20th, featuring some of its top live-streamers and virtual performers.
There will be two possible outcomes following the EGM. First, if shareholders vote in favour of the proposed transactions and the business combination is approved, the resulting entity will trade under the new name “17LIVE Group” on the Singapore Exchange (SGX:S68) on Dec 8. Redeeming shareholders will receive a redemption price of no less than $5 per share.
