09/10/2024 | Press release | Distributed by Public on 09/10/2024 15:06
Item 5.07 Submission of Matters to a Vote of Security Holders
As previously announced, on December 6, 2023, Vaso Corporation, a Delaware corporation ("Vaso") entered into a definitive business combination agreement (the "Business Combination Agreement"), by and among Vaso, Achari Ventures Holdings Corp. I ("Achari"), and Achari Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of Achari. Pursuant to the Business Combination Agreement, the parties have agreed to consummate certain transactions (collectively, the "Business Combination"), subject to the terms and conditions of the Business Combination Agreement.
On August 8, 2024, in connection with the Business Combination, Vaso filed with the U.S. Securities and Exchange Commission (the "SEC") a definitive proxy statement on Schedule 14-A (the "Proxy Statement"), and Vaso commenced mailing the Proxy Statement on August 12, 2024.
On September 10, 2024, Vaso held an special meeting of its stockholders (the "Special Meeting"), at which stockholders holding 129,015,962 shares of common stock held of record as of July 15, 2024, the record date for the Special Meeting, were present or by proxy, representing 73.6% of the voting power of Vaso's common stock as of the record date for the Special Meeting, and constituting a quorum for the transaction of business. The proposals listed below are described in more detail in the Proxy Statement. A summary of the voting results at the Special Meeting are set forth below:
The stockholders approved the Business Combination Proposal, the Director Election Proposal, and the Ratification Proposal (each as defined in the Proxy Statement, and collectively, the "Business Combination Proposals").
The voting results for each of the Business Combination Proposals were as follows:
Proposal No. 1: The Business Combination Proposal
For | Against | Abstain | Broker Non-Votes | |||
125,596,668 | 3.345,378 | 73,916 | 0 |
Proposal No. 2: The Director Election Proposal
Director: Jun Ma
For | Against | Abstain | Broker Non-Votes | |||
124,242,823 | 4,773,139 | 0 | 0 |
Director: David Lieberman
For | Against | Abstain | Broker Non-Votes | |||
124,385,610 | 4,630,352 | 0 | 0 |
Proposal No. 3: The Ratification Proposal
For | Against | Abstain | Broker Non-Votes | |||
125,487,261 | 2,616,671 | 912,030 | 0 |
As there were sufficient votes to approve the above proposals, the "Adjournment Proposal" described in the Proxy Statement was not presented to stockholders.