- June 29, 2021
- Posted by: Stratford Team
- Category: Business
NEW YORK–(BUSINESS WIRE)–ION Acquisition Corp. 1, Ltd. (“ION”) (NYSE:IACA) a special purpose acquisition company, announced today that its shareholders voted to approve the previously announced business combination with Taboola.com Ltd (“Taboola” or the “Company”), the leading recommendation platform for the open web, at its Extraordinary General Meeting held on June 28, 2021. Approximately 99% of the votes cast at the meeting voted to approve the transaction.
In connection with the previously announced business combination, holders of ION Class A ordinary shares reflecting approximately 7% of outstanding Class A Ordinary Shares exercised their right to redeem their shares.
The closing of the business combination is expected to take place on June 29. The transaction will generate approximately $526 million of proceeds upon closing, given the very low redemptions by ION shareholders. Following the closing, the Company’s…
