Legacy Acquisition Corp. Announces Stockholder Approval of Charter Amendment

Rhea-AI Summary

Legacy Acquisition Corp. (NYSE: LGC) announced that its stockholders approved a Charter Amendment allowing Class F and Class A common stockholders to take actions via written consent. This change aims to streamline decision-making processes, facilitating business combinations and providing flexibility for stockholders. The Special Meeting took place virtually on September 4, 2020. The amendment enhances governance by enabling more efficient shareholder actions without requiring a formal meeting.

Positive

• Charter Amendment allows actions by Class F and Class A stockholders through written consent.
• Enhances efficiency and flexibility in stockholder decision-making.
• Facilitates potential business combinations.

Negative

• None.

New York, NY, Sept. 04, 2020 (GLOBE NEWSWIRE) -- Legacy Acquisition Corp. (NYSE: “LGC”) (“Legacy”), a publicly-traded Special Purpose Acquisition Company, announced today that, at Legacy’s special meeting of stockholders (the “Special Meeting”) held virtually at 10:00 am Eastern Time on September 4, 2020, its stockholders approved an amendment to Legacy’s amended and restated certificate of incorporation, as amended by that amendment to the amended and restated certificate of incorporation, dated October 22, 2019, as further amended by that second amendment to the amended and restated certificate of incorporation, dated May 18, 2020 (the “Charter Amendment”) to allow any action required or permitted to be taken by the holders of its Class F common stock and Class A common stock, voting together as a single class, to be taken by written consent in lieu of a meeting of stockholders in addition to the holders of its Class F common stock, voting as a separate class (which may already take action by written consent in lieu of a meeting of stockholders). The purpose of the Charter Amendment is to provide a more efficient and flexible manner by which the stockholders may take actions on behalf of Legacy, including, without limitation, a business combination transaction.

Investors:

Jacques Cornet
ICR
Jacques.cornet@icrinc.com 

Media:
Phil Denning
ICR
Phil.denning@icrinc.com

FAQ

What was approved at the Legacy Acquisition Corp. special meeting on September 4, 2020?

The special meeting approved a Charter Amendment allowing actions by Class F and Class A common stockholders to be taken by written consent.

How does the Charter Amendment impact Legacy Acquisition Corp. stockholders?

The Charter Amendment provides a more efficient way for stockholders to make decisions, potentially improving governance and enabling quicker business combinations.

What is the purpose of the Charter Amendment for Legacy Acquisition Corp.?

The purpose is to streamline the decision-making process for stockholders and facilitate business combination transactions.