CHW Acquisition (CHWA) Shareholders Approve Wag! Merger

By Amit Chowdhry ● Jul 29, 2022
  • CHW Acquisition (CHWA) announced that its stockholders voted to approve its proposed business combination with Wag! These are the details.

CHW Acquisition (CHWA), a publicly traded special purpose acquisition company (SPAC), announced that CHW Acquisition’s stockholders voted to approve its proposed business combination with Wag Labs (known as Wag!), an American pet services marketplace company powering a mobile-first technology platform that enables on-demand and scheduled dog walking, training, and other pet care services.

At the extraordinary general meeting, a total of 13,050,501 ordinary shares, or 83.19% of CHW Acquisition Corporation’s issued and outstanding ordinary shares as of June 28, 2022, the record date of the extraordinary general meeting, were present either in person or represented by proxy. And the holders of 12,346,984 ordinary shares, or 94.60% of the votes cast at the meeting, voted for the business combination.

CHW Acquisition’s public stockholders had the right to elect to redeem all or a portion of their ordinary shares for a per-share price calculated in accordance with its organizational documents. CHW Acquisition’s public stockholders holding 12,222,922 ordinary shares, or 97.78% of all outstanding public shares, validly elected to redeem their public shares.

At the closing of the business combination, which is expected to occur as soon as practicable after all closing conditions are satisfied or waived, the common stock and warrants of the combined company are set to begin trading on Nasdaq under the new ticker symbol, “PET” and “PETW”, respectively.