Blue Ocean Acquisition Corp Shareholders Approve Business Combination with TNL Mediagene

Blue Ocean Acquisition Corp (NASDAQ: BOCNU) recently disclosed in a Form 8-K filing to the Securities and Exchange Commission that its shareholders have approved a business combination with TNL Mediagene, a Cayman Islands exempted company. The extraordinary general meeting held on November 27, 2024, saw shareholders vote on and authorize the Agreement and Plan of Merger, ultimately greenlighting the merger with TNL Mediagene.

The meeting had three main proposals on the agenda:
– Approval, ratification, and authorization of the Business Combination Agreement and related transactions, including the merger with Merger Sub.
– Approval and authorization of the Merger and the Plan of Merger.
– Proposal to adjourn the meeting if deemed necessary for additional solicitation and voting.

The Business Combination Proposal and Merger Proposal each received overwhelming support, with a majority vote of 5,931,621 for and 3,345 against, leading to their approval.

Regarding shareholder actions in connection with the meeting, approximately 1,803,047 Class A ordinary shares were redeemed for an aggregate price of around $20.4 million.

Furthermore, the Company entered into an agreement with Needham & Company, LLC, accepting a cash payment of $350,000 from TNL Mediagene in lieu of the deferred underwriting fee. This agreement was made following shareholder redemptions and other considerations.

As an emerging growth company, Blue Ocean Acquisition Corp is steadily progressing with its business combination plans, ensuring compliance with regulatory requirements and shareholder mandates. This strategic move marks a significant step forward for the company and its growth initiatives.

For further details and comprehensive financial statements related to this development, readers are encouraged to refer to the official Form 8-K filing on the SEC’s website.

This update showcases Blue Ocean Acquisition Corp’s dedication to navigating the business combination landscape and emphasizes its commitment to shareholder interests and strategic expansion opportunities.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Blue Ocean Acquisition’s 8K filing here.

Blue Ocean Acquisition Company Profile

Blue Ocean Acquisition Corp. does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. The company intends to focus within the consumer Internet sector in segments, such as online marketplaces, education and advertising technology, and direct-to-consumer e-commerce businesses in Asia, Latin America, and North America.