Tortoise Acquisition (SHLL) Postpones the Closure of Its Merger With Hyliion Till 30th of September

Tortoise Acquisition (SHLL) Postpones the Closure of Its Merger With Hyliion Till 30th of September

5 years ago
Anonymous $rxtAWepgzY

https://wccftech.com/tortoise-acquisition-shll-postpones-the-closure-of-its-merger-with-hyliion-till-30th-of-september/

Tortoise Acquisition (NYSE:SHLL), a Special Purpose Acquisition Company (SPAC), has not cleared the final hurdle that was standing between its much-anticipated business combination with Hyliion, the company that develops hybrid suspension systems and electrified powertrain solutions for Heavy Duty Class 8 trucks. In a special meeting, the SPAC’s shareholders were supposed to grant the requisite approval for the merger to take effect:

“The Business Combination Proposal — To consider and vote upon a proposal to (a) approve and adopt the Business Combination Agreement and Plan of Reorganization, dated as of June 18, 2020 (the “Business Combination Agreement”), among TortoiseCorp, SHLL Merger Sub Inc., a Delaware corporation and a wholly-owned subsidiary of TortoiseCorp (“Merger Sub”), and Hyliion Inc., a Delaware corporation (“Hyliion”), pursuant to which Merger Sub will merge with and into Hyliion, with Hyliion surviving the merger as a wholly-owned subsidiary of TortoiseCorp and (b) approve such merger and the other transactions contemplated by the Business Combination Agreement…”

Tortoise Acquisition (SHLL) Postpones the Closure of Its Merger With Hyliion Till 30th of September

Sep 28, 2020, 4:18pm UTC
https://wccftech.com/tortoise-acquisition-shll-postpones-the-closure-of-its-merger-with-hyliion-till-30th-of-september/ > Tortoise Acquisition (NYSE:SHLL), a Special Purpose Acquisition Company (SPAC), has not cleared the final hurdle that was standing between its much-anticipated business combination with Hyliion, the company that develops hybrid suspension systems and electrified powertrain solutions for Heavy Duty Class 8 trucks. In a special meeting, the SPAC’s shareholders were supposed to grant the requisite approval for the merger to take effect: > “The Business Combination Proposal — To consider and vote upon a proposal to (a) approve and adopt the Business Combination Agreement and Plan of Reorganization, dated as of June 18, 2020 (the “Business Combination Agreement”), among TortoiseCorp, SHLL Merger Sub Inc., a Delaware corporation and a wholly-owned subsidiary of TortoiseCorp (“Merger Sub”), and Hyliion Inc., a Delaware corporation (“Hyliion”), pursuant to which Merger Sub will merge with and into Hyliion, with Hyliion surviving the merger as a wholly-owned subsidiary of TortoiseCorp and (b) approve such merger and the other transactions contemplated by the Business Combination Agreement…”