Velodyne Lidar Announced 98% of Votes in Favor of Proposed Merger With Ouster; 48.6% of Total Shares Have Been Votes Vs 50% Required

Author: Charles Gross | January 26, 2023 05:23pm
Velodyne Lidar, Inc. (NASDAQ:VLDR, VLDRW)) today announced that the Special Meeting of Stockholders ("Special Meeting") to approve the proposed merger with Ouster, Inc. (NYSE:OUST) and related matters was convened and adjourned without conducting any business. The Special Meeting will reconvene at 9:00 a.m. PT on February 3, 2023. According to Velodyne bylaws, 50% of shareholders must participate to reach the required quorum for the Special Meeting. In addition, more than 50% of outstanding shares must be voted in favor of the merger to pass the proposal. At this time, shareholders representing over 48.6% of total outstanding shares have recorded their vote on the proposed merger, of which over 98% of the shares have been voted in favor. Under 3.3 million more shares of approximately 238 million total shares outstanding are needed to be voted in favor to pass the merger proposal. All stockholders of record as of the close of business on December 5, 2022 are entitled to vote and attend the Special Meeting. The reconvened Special Meeting will be held at 5521 Hellyer Avenue, San Jose, CA 95138.

Posted In: OUST VLDR