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GigCapital2, Inc. ("GigCapital2") (NYSE:GIX, GIX.U, GIX.RT, and GIX.WS))))) announced that its stockholders approved all proposals related to the previously announced business combinations with UpHealth Holdings, Inc. ("UpHealth") and Cloudbreak Health, LLC ("Cloudbreak") at a special meeting of stockholders held on June 4, 2021. More than 94.4% of the votes cast at the meeting, representing approximately 65.7% of GigCapital2's outstanding shares, voted to approve the business combinations. A Form 8-K disclosing the full voting results is expected to be filed with the Securities and Exchange Commission.
As announced previously, the business combinations will result in each of UpHealth and Cloudbreak becoming a direct wholly-owned subsidiary of GigCapital2. GigCapital2 will be renamed "UpHealth, Inc." and its common stock and warrants are expected to begin trading on the New York Stock Exchange under the new symbols "UPH" and "UPH.WS", respectively, on June 9, 2021. At the closing of the business combinations, which is expected to take place on June 8, 2021, each GigCapital2 unit will separate into its components consisting of one share of GigCapital2 common stock, one warrant, and a right for one-twentieth of a share of GigCapital2 stock that will also be issued at the closing, and, as a result, both the units and the rights will no longer trade as separate securities.
Posted In: GIX
