IACB Shareholders Vote to Approve the Proposed Business Combination with Innovid
NEW YORK–(Business WIRE)–ION Acquisition Corp 2, Ltd. (“ION”) (NYSE:IACB), a unique intent acquisition organization, declared now that its shareholders voted to approve the previously declared organization blend with Innovid Inc. (“Innovid” or the “Company”), a primary impartial linked Television set (CTV) advertising and marketing shipping and delivery and measurement system, at its Amazing General Meeting held on November 29, 2021.
Around 97.4{73375d9cc0eb62eadf703eace8c5332f876cb0fdecf5a1aaee3be06b81bdcf82} of the votes cast at the meeting voted to approve the transaction. The closing of the organization mix is expected to get put on November 30. The transaction will deliver about $251 million of proceeds on closing, following giving outcome to redemptions (of 19,585,174 shares) and payment of deferred underwriting commissions, but ahead of payment of transaction bills. Following the closing, the Company’s normal shares and warrants will begin trading on the New York Stock Exchange (“NYSE”) starting on December 1 beneath the ticker symbols “CTV” and “CTV.WS” respectively.
“Innovid has designed an fantastic advert-serving, resourceful and measurement system, purpose-crafted for CTV, to empower world-wide advertisers as they transition $200 billion of Tv set promotion from broadcast television to the electronic age,” said Gilad Shany, CEO of ION. “With solid buyer interactions with the major Tv advertisers, deep partnerships across the ecosystem, independence of any media bias, and beautiful utilization-based unit economics, the enterprise is uniquely positioned likely ahead,” continued Gilad. “With the help of our shareholders for the business enterprise mixture, we look forward to the future period of our partnership with Zvika and the Innovid group as they start their journey as a general public company, and cement their management place in the CTV ecosystem.”
Vital Info
Neither the SEC, any state securities fee or the Israel Securities Authority has accredited or disapproved of the securities to be issued in relationship with the Business Mixture, or established if the Registration Statement is exact or sufficient.
Be aware About Ahead-Hunting Statements
This press release consists of “forward-wanting statements” within just the which means of the “safe harbor” provisions of the Non-public Securities Litigation Reform Act of 1995. Innovid’s and ION’s genuine results may well vary from their expectations, estimates and projections and therefore, you must not count on these forward-searching statements as predictions of long term events. Words this kind of as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and equivalent expressions are intended to determine these types of forward-searching statements. These ahead-looking statements incorporate, devoid of limitation, ION’s and Innovid’s anticipations with respect to long term performance and anticipated monetary impacts of the Small business Mixture. These ahead-hunting statements contain significant hazards and uncertainties that could induce the genuine success to differ materially from the envisioned final results. Most of these elements are outdoors ION’s and Innovid’s regulate and are complicated to predict. Components that may possibly lead to this sort of discrepancies include, but are not constrained to: (i) the event of any event, adjust or other instances that could give rise to the termination of the Merger Agreement or could normally result in the Business Blend to fail to close (ii) the final result of lawful proceedings that have or may well be instituted towards ION and Innovid (iii) the incapacity to finish the Business enterprise Combination, which include owing to failure to fulfill the remaining disorders in the Merger Arrangement (iv) the receipt of an unsolicited provide from a different get together for an option business enterprise transaction that could interfere with the Small business Blend (v) the incapability to acquire or keep the listing of the widespread inventory of the put up-acquisition business on The New York Stock Exchange adhering to the Organization Mix (vi) the possibility that the announcement and consummation of the Business enterprise Combination disrupts present-day programs and operations (vii) the means to figure out the predicted rewards of the Small business Mixture, which may well be affected by, between other factors, competitors, the potential of the combined business to grow and manage expansion profitably and keep its key personnel (viii) expenses related to the Small business Combination (ix) variations in applicable laws or rules (x) the risk that ION, Innovid or the mixed enterprise may possibly be adversely affected by other financial, organization, aggressive and/or variables this kind of as the COVID-19 pandemic (xi) the prospective result of reduced promoting expend because of to ongoing provide chain constraints on our prospects and the greatest impact of this kind of constraints on our final results of functions and potential to correctly predict future efficiency and (xii) other challenges and uncertainties indicated from time to time in the proxy assertion/prospectus relating to the Business enterprise Blend, including all those beneath “Risk Factors” in the Registration Assertion, and in ION’s other filings with the SEC. ION cautions that the foregoing listing of variables is not distinctive. ION cautions audience not to position undue reliance upon any forward-looking statements, which converse only as of the date produced. ION does not undertake or take any obligation or endeavor to launch publicly any updates or revisions to any ahead-wanting statements to replicate any alter in its anticipations or any improve in events, disorders or conditions on which any these types of assertion is primarily based.
About Innovid
Started in 2007, Innovid powers connected Television set (CTV) advertising streaming, personalization, and measurement for the world’s biggest brands. By way of a world wide infrastructure that allows data-pushed personalization, genuine-time decisioning, scaled ad serving, and accredited measurement, Innovid gives its shoppers and associates streamlined options that improve the value of investments throughout screens and units. Innovid is an unbiased system that leads the sector in CTV innovation driven by special partnerships created to fuel the foreseeable future of Television set promotion. Headquartered in New York Metropolis, Innovid serves a world wide consumer base by workplaces across the Americas, Europe, and Asia Pacific.
About ION
ION is a distinctive purpose acquisition corporation incorporated for the function of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or identical business mixture with a single or far more companies. Whilst ION might go after a organization combination focus on in any organization or business, ION intends to aim on the quickly rising universe of Israeli organizations and entrepreneurs that implement engineering and innovation to our day-to-day life. ION is sponsored by ION Holdings 2, LP, an affiliate of ION Asset Administration Ltd.
Learn much more at www.ion-am.com/spac2.
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