Approval Process

“Shareholder Vote & Redemption Window”

Welcome back to The SPAC Podcast. We’re almost at the final stage of our SPECIAL series.

So far, we’ve covered:

• S: Sponsor Setup
• P: Public Raise
• E: Evaluate Targets
• C: Combination Planning
• I: Investor Engagement

Now we’re at A: Approval Process.

After marketing and regulatory filings, the deal goes to a shareholder vote. Public shareholders can choose to redeem their shares for their portion of the trust — with interest — regardless of whether they vote for or against the deal.

Because of this, redemption risk is a key concern. PIPEs, backstop agreements, and minimum cash conditions all play a role in ensuring deal certainty.

Once the vote is passed and redemptions are handled, the deal is nearly complete.