Artisan Acquisition Corp. (ARTA) Shareholders Approve Prenetics Deal
by Marlena Haddad on 2022-05-10 at 8:20am

Artisan (NASDAQ:ARTA) announced this afternoon that its shareholders have voted to approve its combination with genomic and diagnostic testing company Prenetics Group Limited in a special meeting held yesterday.

Although today’s 8-K filing did not disclose redemption numbers, ARTA traded above its trust value throughout its redemption deadline May 5, and saw a high of $10.10 yesterday.

A total of 28,205,766, or 64.22%, of Artisan’s issued and outstanding ordinary shares were present at yesterday’s special meeting. The business combination was overwhelmingly approved with 27,309,556 votes in favor of the transaction, and just 895,867 against it.

The SPAC recently made several amendments to the deal which covered a range of agreements, including the business combination, the sponsor agreement, the PIPE subscription, deeds of novation and forward purchase agreements (FPA), the sponsor agreement, and the shareholder support agreement.

The parties expect to close the deal on Wednesday, May 18, 2022. The combined company’s shares and warrants are expected to begin trading on the Nasdaq Stock Market under the symbols “PRE” and “PRENW,” respectively, on Wednesday, May 18, 2022.

Artisan initially announced its $1.25 billion combination with Prenetics on September 15, 2021. Hong Kong-based Prenetics is a global leader in genomic and diagnostic testing that is decentralizing healthcare with a focus on prevention, diagnostics and personalized care.


  • UBS Securities LLC is acting as sole financial advisor and exclusive capital markets advisor to Artisan.
  • Citigroup Global Markets Asia Limited is acting as sole financial advisor to Prenetics.
  • UBS Securities LLC, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and China International Capital Corporation Hong Kong Securities Limited are serving as placement agents on the PIPE.
  • Skadden, Arps, Slate, Meagher & Flom LLP is serving as international legal counsel, and Mourant is serving as Cayman legal counsel, to Prenetics.
  • Kirkland & Ellis LLP is serving as international legal counsel, and Appleby is serving as Cayman legal counsel, to Artisan.
  • Shearman & Sterling LLP is serving as international counsel to the placement agents.
  • KPMG LLP is serving as the auditor to Prenetics.
Recent Posts
by Marlena Haddad on 2023-12-08 at 1:59pm

Mobiv Acquisition Corp. (NASDAQ:MOBV) announced this afternoon that it has closed its combination with EV motorcycle-maker SRIVARU. Shareholders originally approved the deal at a special meeting held back on September 28, but at that time, the parties expected the transaction to take just a week to close. Redemptions whittled Mobiv’s IPO share pool of 10,005,000 down...

by Nicholas Alan Clayton on 2023-12-08 at 11:12am

Achari Ventures I (NASDAQ:AVHI) has entered into a definitive agreement to combine with medtech firm Vaso Corporation at an equity value of $176 million, or 19.5x its 2022 adjusted EBITDA. Wuxi, China-based Vaso provides IT services and sales support to medical device manufacturers. The combined company is expected to trade on the Nasdaq under the...

by Marlena Haddad on 2023-12-08 at 10:27am

EF Hutton Acquisition Corp. I (NASDAQ:EFHT) announced this morning that its shareholders have approved its business combination with E.C.D. Auto Design. At the meeting, there were 5,089,203 shares of common stock, representing approximately 76.82% of the issued and outstanding shares of common stock, present. In connection with the meeting, the company’s stockholders holding 3,470,945 shares,...

by Marlena Haddad on 2023-12-08 at 9:42am

Legato Merger Corp. III (NYSE:LEGT) filed for a $175 million IPO yesterday afternoon, becoming the fourth SPAC to file this week. While the other three SPACs that filed their S-1s earlier this week intend to pursue targets in the financial services and biotech industries, Legato III, similar to the earlier Legato SPACs, will focus on...

by Nicholas Alan Clayton on 2023-12-08 at 7:48am

At the SPAC of Dawn This week ends with an unusually busy earnings calendar as 172 US-listed companies report quarterly figures today. Among them is Exela Technologies (NASDSAQ:XELA), which completed a combination with Quinpario 2 in 2017. The billing software company has gone on to do another SPAC deal on November 29, this time spinning...


Copyright © 2023 SPACInsider, Inc. All Rights Reserved