Live Oak Acquisition Corp. II (LOKB) and Navitas Semiconductor Announces Shareholder Approval of their Business Combination
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Navitas Semiconductor ("the Company" or "Navitas"), the industry leader in GaN Power ICs, and Live Oak Acquisition Corp. II (NYSE: LOKB) ("Live Oak II" or "LOKB"), a blank check company, announced that at their special meeting held yesterday, Live Oak II shareholders voted to approve the previously proposed business combination between Live Oak II and Navitas (the "Business Combination"), as well as all other proposals related to the Business Combination. Approximately 98.4% of the votes cast at the special meeting voted to approve the Business Combination.
Live Oak II [has filed] the results of the Special Meeting, as tabulated by an independent inspector of elections, on a Form 8-K with the Securities and Exchange Commission (the "SEC") today.
The Business Combination is expected to close on October 19, 2021, subject to the satisfaction or waiver of certain other customary closing conditions.
Upon closing, the combined company is expected to be listed on the NASDAQ Global Market on October 20, 2021, with its common stock and warrants trading under the new ticker symbols, "NVTS" and "NVTSW", respectively.
Gene Sheridan, the Company's co-founder and CEO, is expected to ring the Opening Bell on Wednesday, October 20th, 2021 in celebration of Navitas' listing on the NASDAQ exchange.
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