AEA-Bridges Impact (IMPX) Shareholders Approve LiveWire Deal – SPACInsider

Sep 16, 2022
INTEL by Marlena Haddad

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

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

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

Nonetheless, the parties now expect to close the deal on September 26. Following completion 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 Dec. 13, 2021. Milwaukee-based LiveWire plans to build on its DNA as a nimble Harley-Davidson lineage disruptor to capitalize over a decade of learning in the electric vehicle industry.

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


ADVISORS

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

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