Crescent Acquisition Corp Files Definitive Proxy in Connection with Proposed Business Combination With LiveVox Holdings, Inc.
Crescent Acquisition Corp (NASDAQ: CRSA) has filed a definitive proxy statement regarding its proposed business combination with LiveVox Holdings, Inc., a cloud-based customer service provider. A special meeting for stockholders is scheduled for June 16, 2021, at 10 AM PT, to vote on this proposal. If approved, the business combination is expected to close shortly after the meeting, with the combined company operating as LiveVox Holdings, Inc. under the ticker symbols "LVOX," "LVOXU," and "LVOXW" on Nasdaq.
- Anticipated business combination with LiveVox could enhance market capabilities and operational efficiencies.
- The merger aligns with broader trends in cloud-based customer service solutions, potentially leading to increased revenue growth.
- Market reaction to SPAC mergers can be volatile, posing risks for current shareholders.
- Dependent on the approval from stockholders, which may not guarantee a successful transition.
Crescent Acquisition Corp (NASDAQ: CRSA) (“Crescent”), a publicly-traded special purpose acquisition company, filed a definitive proxy statement relating to its previously announced proposed business combination (the “Business Combination”) with LiveVox Holdings, Inc. (“LiveVox”), a cloud-based provider of customer service and digital engagement tools.
Crescent will hold a special meeting in lieu of the 2021 annual meeting of its stockholders (the “Special Meeting”) to, among other things, allow its stockholders to vote to approve the proposed Business Combination. The Special Meeting is scheduled to be held on Wednesday, June 16th at 10 AM Pacific Time. The Special Meeting will be completely virtual and conducted via live webcast. Holders of record of Crescent common stock at the close of business on the record date of May 10, 2021 may vote at the Special Meeting.
If the proposals at the Special Meeting are approved, the parties anticipate that the Business Combination will close shortly thereafter, subject to the satisfaction or waiver (as applicable) of all other closing conditions. Upon the closing of the Business Combination, the parties expect that the combined company will operate as LiveVox Holdings, Inc., and that its Class A common stock, units and warrants will be listed on The Nasdaq Stock Market LLC under the symbols “LVOX,” "LVOXU" and "LVOXW," respectively.
Crescent stockholders who need assistance voting or have questions regarding the Special Meeting may contact Crescent Acquisition Corp, 11100 Santa Monica Boulevard, Suite 2000, Los Angeles, CA 90025, by telephone at (310) 235-5900 or by email at spacir@crescentcap.com, or Crescent’s proxy solicitor, Morrow Sodali LLC, 470 West Avenue, Stamford, CT 06902, by telephone at (800) 662-5200 (for individuals) or (203) 658-9400 (for banks and brokerages) or by email at CRSA.info@investor.morrowsodali.com.
About LiveVox
LiveVox, a portfolio company of Golden Gate Capital, is a leading cloud-based contact center platform. By seamlessly integrating omnichannel communications, customer relationship management (CRM), and workforce optimization (WFO), LiveVox delivers exceptional agent and customer experiences, while helping to reduce compliance risk. LiveVox’s reliable, easy-to-use technology enables effective engagement strategies on channels of choice to help drive contact center performance. Founded in 2000, LiveVox is headquartered in San Francisco with offices in Atlanta, Denver, St. Louis, Colombia, and Bangalore. To learn more, visit www.livevox.com.
About Crescent Acquisition Corp
Crescent is a special purpose acquisition company formed by Crescent Capital, Robert D. Beyer and Todd M. Purdy for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or assets.
IMPORTANT LEGAL INFORMATION
Additional Information about the Proposed Transaction and Where to Find It
This communication may be deemed solicitation material in respect of the proposed Business Combination between Crescent and LiveVox. The Business Combination will be submitted to the stockholders of Crescent and LiveVox for their approval. In connection with such stockholder vote, Crescent filed with the Securities and Exchange Commission (the “SEC”) a proxy statement on Schedule 14A and mailed a definitive proxy statement to its stockholders in connection with Crescent’s solicitation of proxies for the special meeting of the stockholders of Crescent to be held to approve the Business Combination. This communication does not contain all the information that should be considered concerning the proposed Business Combination and the other matters to be voted upon at the special meeting and is not intended to provide the basis for any investment decision or any other decision in respect of such matters. Crescent’s stockholders and other interested parties are urged to read the proxy statement, the amendments thereto, the definitive proxy statement and any other relevant documents that are filed or furnished or will be filed or will be furnished with the SEC carefully and in their entirety in connection with Crescent’s solicitation of proxies for the special meeting to be held to approve the Business Combination and other related matters, as these materials contain important information about LiveVox and Crescent and the proposed Business Combination. The definitive proxy statement is being mailed to the stockholders of Crescent as of the record date established for voting on the proposed Business Combination and the other matters to be voted upon at the special meeting. Such stockholders may also obtain copies of the proxy statement, without charge, at the SEC’s website at http://www.sec.gov, at Crescent’s website at http://www.crescentspac.com or by directing a request to Crescent Acquisition Corp, 11100 Santa Monica Blvd., Suite 2000, Los Angeles, CA 90025.
Forward-Looking Statements
This communication contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may be made directly in this communication. Some of the forward-looking statements can be identified by the use of forward-looking words. Statements that are not historical in nature, including the words “anticipate,” “expect,” “suggests,” “plan,” “believe,” “intend,” “estimates,” “targets,” “projects,” “should,” “could,” “would,” “may,” “will,” “forecast” and other similar expressions are intended to identify forward-looking statements. All forward-looking statements are based upon management estimates and forecasts and reflect the views, assumptions, expectations, and opinions of Crescent or LiveVox, as the case may be, as of the date of this communication, and may include, without limitation, changes in general economic conditions, including as a result of COVID-19, all of which are accordingly subject to change. Any such estimates, assumptions, expectations, forecasts, views or opinions set forth in this communication constitute Crescent’s or LiveVox’s, as the case may be, judgments and should be regarded as indicative, preliminary and for illustrative purposes only. The forward-looking statements and projections contained in this communication are subject to a number of factors, risks and uncertainties, some of which are not currently known to Crescent or LiveVox, that may cause Crescent’s or LiveVox’s actual results, performance or financial condition to be materially different from the expectations of future results, performance of financial condition. Although such forward-looking statements have been made in good faith and are based on assumptions that Crescent or LiveVox, as the case may be, believe to be reasonable, there is no assurance that the expected results will be achieved. Crescent’s and LiveVox’s actual results may differ materially from the results discussed in forward-looking statements. Additional information on factors that may cause actual results and Crescent’s performance to differ materially is included in Crescent’s periodic reports filed with the SEC, including but not limited to Crescent’s annual report on Form 10-K for the year ended December 31, 2020. Copies of Crescent’s filings with the SEC are available publicly on the SEC’s website at www.sec.gov or may be obtained by contacting Crescent. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. These forward-looking statements are made only as of the date hereof, and neither Crescent nor LiveVox undertake any obligations to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
No Offer or Solicitation
This communication is for informational purposes only and does not constitute an offer or invitation for the sale or purchase of securities, assets or the business described herein or a commitment to Crescent or LiveVox with respect to any of the foregoing, and this filing shall not form the basis of any contract, nor is it a solicitation of any vote, consent, or approval in any jurisdiction pursuant to or in connection with the Business Combination or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law.
Participants in Solicitation
Crescent and LiveVox, and their respective directors and executive officers, may be deemed participants in the solicitation of proxies of Crescent’s stockholders in respect of the Business Combination. Information about the directors and executive officers of Crescent and of LiveVox and more detailed information regarding the identity of all potential participants, and their direct and indirect interests, by security holdings or otherwise, are set forth in the proxy statement for the Business Combination. Additional information regarding the identity of all potential participants in the solicitation of proxies to Crescent’s stockholders in connection with the proposed Business Combination and other matters to be voted upon at the special meeting, and their direct and indirect interests, by security holdings or otherwise, are included in the proxy statement that Crescent filed with the SEC. Investors may obtain such information by reading such proxy statement.
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FAQ
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