Colonnade Acquisition Corp. (NYSE: CLA) disclosed that it has held a shareholder meeting to discuss the merger transaction with Ouster Inc. The meeting is scheduled to take place on March 9, 2021. The firm has also disclosed that it has submitted its definitive proxy statement/prospectus for the meeting.
CLA has also mailed the proxy statement/prospectus to its shareholders as of February 8, 2021. The execution of merger deal is based on the authorization of the shareholders of Colonnade Acquisition Corp. and the fulfillment of other conditions. The merger deal is anticipated to close following the extraordinary general meeting.
It has been disclosed that after the merger deal the merged firm will change the name of its firm to “Ouster, Inc.” The firm will continue trading on the NYSE under the ticker symbol “OUST”. After the merger of both the firms, Ouster will maintain its executive team.
Share of Colonnade Acquisition (NYSE: CLA) plunged 0.41% during the trading session of Monday. In the past 52-weeks of trading, the firm share has fluctuated between the low and high range of $9.54 and $17.73. Colonnade Acquisition has total market capitalization of $294.80 million at the time of writing.
The co-founder of the firm will serve as CEO, co-founder Mark Frichtl will serve as CTO, and Anna Brunelle will serve as CFO. Remy Trafelet will serve on the Ouster board of directors after the execution of the Business Merger.