WL Ross Holding Corp. (NASDAQ: WLRH) announced today that its shareholders have overwhelmingly approved the previously announced business combination transaction to acquire Nexeo Solutions Holdings, LLC at the special meeting of stockholders held today. The shares that voted today were voted overwhelmingly in favor of the Merger. The Company's board of directors had previously approved the Merger and recommended that its stockholders vote in favor of the proposal, and Nexeo Solutions' board of directors had also previously approved the Merger.
In addition to approving the Merger, the Company's stockholders approved proposals to amend the amended and restated certificate of incorporation of the Company, including changing the name of the Company to "Nexeo Solutions, Inc.", and removing certain provisions related to the Company's previous status as a blank check company; the proposal to elect nine (9) directors to the Board and to reclassify the Board into three separate classes; and all of the other proposals included in the proxy statement filed by the Company with the Securities and Exchange Commission (the "SEC") on May 9, 2016, as revised on May 18 and May 26, 2016.
Wilbur Ross, Chairman of the Company, added, "This vote completes the authorizations needed to complete the transactions. We have scheduled the closing for June 9, 2016. In light of the vote today, WL Ross Holding Corp adjourned the special meeting of its stockholders for the purpose of extending the expiration of its existence to Friday, June 10 at 9:00 a.m. Eastern. This special meeting only will occur if something unexpected prevents the closing of the Merger from being completed tomorrow and will still be held at the offices of the Company, located at 1166 Avenue of the Americas, New York, NY 10036."
About WL Ross Holding Corp.
WL Ross Holding Corp. is a Special Purpose Acquisition Company sponsored by WL Ross Sponsor LLC, an affiliate of WL Ross & Co. LLC, for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or assets. WL Ross Holding Corp. completed its initial public offering in June 2014, raising approximately $500 million in cash proceeds. WL Ross Holding Corp.'s officers and certain of its directors are affiliated with WL Ross & Co. LLC. Founded in 2000, WL Ross& Co. LLC is a global value oriented private equity firm which seeks niche opportunities in markets where it believes its knowledge, insight and experience offers an advantage in assessing and cultivating new investment opportunities.
