Here's my bet. Those not at the meeting to exercise their rights couldn't run fast enough and it cascaded.
NEW YORK, Nov. 06, 2020 (GLOBE NEWSWIRE) -- KBL Merger Corp. IV (NASDAQ: KBLM or the
"Company"), a special purpose acquisition company (SPAC) that previously announced an agreement to
acquire 180 Life Sciences Corp. ("180 Life Sciences"), today announced that a special meeting (the
"Meeting") of the stockholders of KBL Merger Corp. IV (the "Company") was held on November 5, 2020,
where all proposals, including the proposal to approve the proposed business combination with 180 Life
Sciences, were approved.
In connection with the special meeting, stockholders of KBLM holding 816,461 public shares exercised their
right to redeem such public shares into a pro rata portion of the Trust Account. As a result, an aggregate of
approximately $9,006,492.76 will be removed from the Company's trust account to pay such holders.
Following such redemptions, a total of approximately $1,367,364.54 will remain in the trust account. |
