One Equity Partners Open Water I Corp. (OEPW) Obtains Stockholder Approval to Terminate Before Year-End

December 1, 2022 4:56 PM EST

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One Equity Partners Open Water I Corp. (Nasdaq: OEPW.U, OEPW and OEPWW) (the “Company”) held a special meeting of stockholders on December 1, 2022, at 10:00 a.m., Eastern Time, at the offices of Kirkland & Ellis LLP, located at 601 Lexington Avenue, 50th Floor, New York, New York 10022 (the “Special Meeting”). At this Special Meeting, stockholders approved certain amendments to its amended and restated certificate of incorporation (the “Charter”), to allow the Company to amend the date by which the Company must consummate a business combination from January 26, 2023 to December 8, 2022 (such date, the “Early Termination Date” and such amendment, the “Early Termination Amendment”).

On December 1, 2022, following the Special Meeting, the board of directors of the Company filed the Early Termination Amendment. The last day of trading of the Company’s public shares, warrants and units on the Nasdaq Stock Market LLC will be December 8, 2022.

Because the Company will not be able to complete an initial business combination by the Early Termination Date, the Company is obligated to redeem the remaining public shares as promptly as possible, but not more than ten business days after the Early Termination Date (the “Mandatory Redemption”). The Company expects to complete the Mandatory Redemption on or about December 9, 2022. The redemption price per share in connection with the Mandatory Redemption is will be $10.00.

For more information, including specific information regarding the Mandatory Redemption, please see the definitive proxy statement filed by the Company with the Securities and Exchange Commission (the “SEC”) on November 9, 2022.

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