UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): February 11, 2020
LEO HOLDINGS CORP.
(Exact Name of Registrant as Specified in Charter)
Cayman Islands | 001-38393 | 98-1399727 | ||
(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
21 Grosvenor Place London |
SW1X 7HF | |
(Address of Principal Executive Offices) | (Zip Code) |
Registrants telephone number, including area code: +44 20 7201 2200
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered | ||
Units, each consisting of one Class A ordinary share, $0.0001 par value, and one-half of one redeemable warrant | LHC.U | New York Stock Exchange | ||
Class A ordinary shares included as part of the units | LHC | New York Stock Exchange | ||
Warrants included as part of the units, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50 | LHC WS | New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.07. Submission of Matters to a Vote of Security Holders.
At the Extraordinary General Meeting (the Extraordinary General Meeting) of Leo Holdings Corp. (the Company), which was held on February 11, 2020, holders of 19,465,329 of Leo Holdings Corp.s ordinary shares, which represents approximately 77.86% of the ordinary shares issued and outstanding and entitled to vote as of the record date of January 17, 2020, were represented in person or by proxy.
At the Extraordinary General Meeting, the shareholders approved an ordinary resolution (the Extension Proposal) to extend the date, from February 15, 2020 to July 31, 2020, by which the Company must either (a) consummate a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities or (b) (i) cease all operations except for the purpose of winding up; (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem all of the Companys Class A ordinary shares included as part of the units sold in the Companys initial public offering that was consummated on February 15, 2018; and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Companys remaining members and the Companys board of directors, liquidate and dissolve, subject in the case of (ii) and (iii), to its obligations under Cayman Islands law to provide for claims of creditors and in all cases subject to the other requirements of applicable law.
Approval of Proposal 1Extension Proposal
Votes For |
Votes Against |
Abstentions |
Broker Non-Votes | |||
19,465,329 |
0 | 0 | N/A |
In connection with the vote to approve the Extension Proposal, the holders of 687,193 Class A ordinary shares properly exercised their right to redeem their shares for cash at a redemption price of approximately $10.38 per share, for an aggregate redemption amount of approximately $7.13 million. As such, only approximately 3.4% of the Class A ordinary shares were redeemed and approximately 96.6% of the Class A ordinary shares remain outstanding. After the satisfaction of such redemptions, the balance in the Companys trust account will be approximately $200.4 million.
The approval of the Extension Proposal will provide an opportunity for the Companys shareholders to evaluate the Companys proposed business combination with Digital Media Solutions LLC (DMS). The Company announced on February 6, 2020 that the Company and DMS have executed a non-binding term sheet and are working on a definitive agreement.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: February 12, 2020 | LEO HOLDINGS CORP. | |||||
By: | /s/ Simon Brown | |||||
Name: Simon Brown | ||||||
Title: Secretary |