On August 24, 2020, Far Point Acquisition Corporation (NYSE: FPAC) announced stockholder approval for its business combination with Global Blue Group AG. Approximately 67.68% of FPAC's shares voted in favor, comprising 53,505,646 shares. The transaction is expected to close on August 28, 2020. Additionally, stockholders holding 48,708,994 shares of Class A Common Stock chose to redeem their shares related to the transaction. FPAC, formed to merge with firms in the financial technology sector, raised $632 million during its June 2018 IPO.
Far Point Acquisition Corporation (NYSE: FPAC, FPAC.UN, FPAC.WS) announced a Special Meeting for stockholders on August 24, 2020, to vote on its business combination with Global Blue Group AG. The definitive proxy statement was filed and sent to stockholders on August 4, 2020, with a record date of July 24, 2020. Stockholders must redeem shares by August 20, 2020 to participate. FPAC raised $632 million during its IPO in June 2018 and aims to merge with businesses in the financial technology sector.
Far Point Acquisition Corporation (NYSE: FPAC) announced a legal action involving Global Blue Group AG concerning a pending business combination transaction. On June 26, 2020, Global Blue and SL Globetrotter initiated a lawsuit against Suvretta Capital Management and TOMS Capital due to alleged failure to meet closing conditions for their PIPE investment agreements. These investors collectively agreed to purchase 5 million shares at $10 each. FPAC is not a party to the lawsuit, highlighting potential challenges in finalizing the transaction.