NEW YORK, Aug. 24, 2020 /PRNewswire/ -- Far Point
Acquisition Corporation (NYSE: FPAC, FPAC.UN, and FPAC.WS) a
special purpose acquisition company ("FPAC"), announced that its
stockholders voted to approve the proposed business combination
transaction (the "Transaction") with Global Blue Group AG ("Global
Blue") at a Special Meeting held for this purpose on August 24, 2020. Holders of 53,505,646
shares of FPAC's Common Stock, or approximately 67.68% of the
issued and outstanding shares, voted in favor of the
Transaction. The parties expect the closing of the
Transaction to occur August 28,
2020. FPAC also announced that stockholders holding
48,708,994 shares of FPAC's Class A Common Stock have elected to
redeem their shares in connection with the closing of the
Transaction.
About Far Point
Far Point Acquisition Corporation (NYSE: FPAC) is a special
purpose acquisition company organized under the laws of
Delaware for the purpose of
effecting a merger, capital stock exchange, asset acquisition,
stock purchase, reorganization, or similar business combination
with one or more businesses in the financial technology industry.
The company completed its initial public offering on the NYSE in
June 2018, raising $632 million from investors.
Forward Looking Statements
This press release includes "forward looking statements" within
the meaning of the "safe harbor" provisions of the United States
Private Securities Litigation Reform Act of 1995. Undue reliance
should not be placed on these forward-looking statements, and such
statements are not guarantees of future performance, conditions or
results, and involve a number of known and unknown risks,
uncertainties, assumptions, estimates and other important factors,
many of which are outside FPAC's or Global Blue's management's
control, that could cause actual results or outcomes to differ
materially from those discussed in the forward-looking statements.
Among the key factors that could cause actual results to differ
materially from those projected in these forward-looking statements
are the following: the impact of COVID-19, including in relation to
international travel and similar health-related travel disruptions;
the negative impact of COVID-19 cost-saving measures; the inability
to complete the transactions contemplated by the proposed business
combination; the inability to recognize the anticipated benefits of
the proposed business combination; the ability to meet NYSE's
listing standards following the consummation of the transaction
contemplated by the proposed business combination; costs related to
the proposed business combination; Global Blue's ability to execute
on its plans; Global Blue's estimates of the size of the markets
for its solutions; Global Blue's ability to identify and integrate
acquisitions; the performance and security of Global Blue's
services; Global Blue's inability to execute strategic plans due to
inability to generate sufficient cash flow; potential litigation or
investigations involving Far Point or Global Blue and resulting
material settlements, fines or penalties; changes to the regulatory
environment, licensing requirements and government agreements; and
the general economic and market conditions impacting, among others,
currency exchange rates, international travel and the overall level
of consumer spending, thereby impacting the demand for Global
Blue's services. Other factors include the possibility that the
proposed transaction does not close, including due to the failure
to receive required security holder approvals, or the failure of
other closing conditions. Neither FPAC nor Global Blue undertake
any obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law.
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SOURCE Far Point Acquisition Corporation