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Proficient Alpha Acquisition Corp. Announces Stockholder Approval of Business Combination with Lion Financial Group Limited a...
June 04 2020 - 01:40PM
GlobeNewswire Inc. Print
Proficient Alpha Acquisition Corp. (“Proficient” or the “Company”) (Nasdaq: PAAC) announced today that it held a special meeting of stockholders (the “Merger Meeting”) and the stockholders approved a business combination agreement, dated as of March 10, 2020 (as amended and restated on May 12, 2020, the “Business Combination Agreement”) with Lion Financial Group Limited, a Chinese investor-focused trading platform that offers a wide spectrum of products and services (“Lion”), Lion Group Holding Ltd. (“Pubco”) and the other parties thereto, and the transactions contemplated thereby (the “Business Combination”) (the “Business Combination Proposal”). The Business Combination Proposal and each of the other proposals voted on at the Merger Meeting were approved. The parties expect the closing of the Business Combination to take place when all closing conditions as contemplated by the Business Combination Agreement have been satisfied or waived, as applicable. Following the Business Combination, each of Proficient and Lion will become a wholly-owned subsidiary of Pubco and the American Depositary Shares and warrants of Pubco are expected to trade on the Nasdaq Capital Market under the symbols “LGHL” and “LGHLW,” respectively.
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