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GS Acquisition Holdings Corp II (GSAH) announced that its stockholders approved the business combination with Mirion Technologies, Inc., paving the way for the transaction's closing around October 20, 2021. Post-closure, the merged entity will operate under the name Mirion Technologies, with its Class A common stock and warrants trading under the new ticker symbols ‘MIR’ and ‘MIRW’ on the New York Stock Exchange. Stockholders can withdraw redemption requests until October 19, 2021, at 5:00 p.m. Eastern Time.
Positive
Stockholder approval received for the business combination
Expected trading under new ticker symbols 'MIR' and 'MIRW' post-closure
Negative
Potential for stockholder redemption could impact the merger's financial structure
Market uncertainties may affect completion and integration of the merger
NEW YORK--(BUSINESS WIRE)--
GS Acquisition Holdings Corp II (“GSAH”) (NYSE: GSAH) today announced that its stockholders approved the proposals that were conditions to closing of the previously announced business combination with Mirion Technologies, Inc. (“Mirion” or the “Company”) at a special meeting of stockholders held today. A Form 8-K disclosing the full voting results is expected to be filed with the Securities and Exchange Commission.
The closing of the Business Combination is expected to occur on or about October 20, 2021, subject to the satisfaction or waiver of all closing conditions. Following closing, the combined company will be known as Mirion Technologies, Inc. and its Class A common stock and warrants are expected to trade on the New York Stock Exchange under the new ticker symbols “MIR” and “MIRW”, respectively.
The deadline for GSAH stockholders to withdraw any election to have their shares redeemed in connection with the Business Combination will be 5:00 p.m. Eastern Time on Tuesday, October 19, 2021. Stockholders who wish to withdraw a redemption request should contact GSAH’s transfer agent, Continental Stock Transfer & Trust Company, by email at mzimkind@continentalstock.com.
About Mirion
Mirion Technologies is a leading provider of detection, measurement, analysis and monitoring solutions to the nuclear, defense, medical and research end markets. The organization aims to harness its unrivaled knowledge of ionizing radiation for the greater good of humanity. Many of the company's end markets are characterized by the need to meet rigorous regulatory standards, design qualifications and operating requirements. Headquartered in Atlanta (GA – USA), Mirion employs around 2,500 people and operates in 13 countries. For more information, and for the latest news and content from Mirion, visit Mirion.com. Mirion is currently a portfolio company of Charterhouse Capital Partners, LLP.
About GSAH
GS Acquisition Holdings Corp II (NYSE: GSAH) is a special purpose acquisition company formed for the purpose of effecting merger, stock purchase or similar business combination with one or more businesses. The company is sponsored by an affiliate of The Goldman Sachs Group, Inc. In June 2020, GSAH completed its initial public offering, raising $750 million from investors.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, statements regarding the closing of the business combination and the listing of Mirion’s securities on the New York Stock Exchange. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this press release, words such as “pro forma,” “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “strive,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. When GSAH or Mirion discusses its strategies or plans, including as they relate to the potential transaction, it is making projections, forecasts and forward-looking statements. Such statements are based on the beliefs of, as well as assumptions made by and information currently available to, GSAH’s or Mirion’s management.
These forward-looking statements involve significant risk and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside GSAH’s and Mirion’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) GSAH’s ability to complete the potential transaction or, if GSAH does not complete the potential transaction, any other initial business combination; (2) satisfaction or waiver (if applicable) of the conditions to the potential transaction, including with respect to the approval of the stockholders of GSAH; (3) the ability to maintain the listing of the combined company’s securities on the New York Stock Exchange; (4) the inability to complete the private placement; (5) the risk that the proposed transaction disrupts current plans and operations of GSAH or Mirion as a result of the announcement and consummation of the transaction described herein; (6) the ability to recognize the anticipated benefits of the proposed transaction, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (7) costs related to the proposed transaction; (8) changes in applicable laws or regulations and delays in obtaining, adverse conditions contained in, or the inability to obtain necessary regulatory approvals required to complete the potential transaction; (9) the possibility that GSAH and Mirion may be adversely affected by other economic, business, and/or competitive factors; (10) the outcome of any legal proceedings that may be instituted against GSAH, Mirion or any of their respective directors or officers, following the announcement of the potential transaction; (11) the failure to realize anticipated pro forma results or projections and underlying assumptions, including with respect to estimated stockholder redemptions, purchase price and other adjustments; (12) future global, regional or local political, market and social conditions, including due to the COVID-19 pandemic; and (13) other risks and uncertainties indicated from time to time in the definitive proxy statement/prospectus of GSAH, including those under “Risk Factors” therein, and other documents filed or to be filed with the Securities and Exchange Commission (“SEC”) by GSAH.
Forward-looking statements included in this release speak only as of the date of this release. Neither GSAH nor Mirion undertakes any obligation to update its forward-looking statements to reflect events or circumstances after the date of this release. Additional risks and uncertainties are identified and discussed in GSAH’s reports filed with the SEC and available at the SEC’s website at http://www.sec.gov.
Disclaimer
This press release relates to the proposed business combination. This document does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Patrick Scanlan Goldman Sachs & Co. LLC T +1 212-902-5400
Source: Mirion Technologies
FAQ
What does the business combination between GSAH and Mirion Technologies involve?
The business combination is a merger that will see GS Acquisition Holdings Corp II combining with Mirion Technologies, facilitating its transition to a publicly traded company.
When is the expected closing date for the GSAH and Mirion merger?
The business combination is expected to close on or about October 20, 2021.
What are the new ticker symbols for Mirion Technologies after the merger?
After the merger, Mirion Technologies' Class A common stock and warrants will trade under the symbols 'MIR' and 'MIRW'.
What is the deadline for GSAH stockholders to withdraw redemption requests?
GSAH stockholders can withdraw redemption requests until 5:00 p.m. Eastern Time on October 19, 2021.
What risks are associated with the GSAH and Mirion business combination?
Risks include potential impacts from stockholder redemptions, market uncertainties, and the challenges of integration post-merger.
