We have seen what happens with stock price if stockholders decide not to vote. After a no-quorum Forum Merger (FMCI) stock went down almost 30% during pre-market session because stockholders thought how merger was not voted for.
Now, the same thing might happen to Tortoise Acquisition Corp (NYSE: SHLL) stock price if there is not enough voters casting their YES or NO votes on Monday. As long as less than 65% of stockholders do not vote, SHLL shares will probably go down on this news.
This means that the price is in the hands of stockholders this time.
Scared that their merger with SHLL could go south, Hyliion announced via their official Twitter account that Shareholder Meeting is on Monday, September 28 at 9:30 a.m. ET. They called all shareholders that have NOT yet voted and are a shareholder of Tortoise Acquisition Corp. as of August 24, 2020, to vote their shares using theirr Control number or call Morrow Sodali at 877-787-9239.
It is a rather late move and surprising, which is why some shareholders are not happy with how things are rolling out:”PR should be a little enthusiastic on spreading news and information. Instead, you post this AT THE VERY END OF LAST trading day before the merger date. Could have remind shareholders weekly, It cost you nothing”.-said one of the investors
Have you voted for a merger? If yes, why? Is there a future for this company or is this just another empty story?