Significant Updates:
- GSAH trust proceeds expected to increase to $604 million from the previously estimated $554 million for total proceeds raised of $2.3 billion
- Holders of approximately 5 million shares reversed their election to redeem following the Friday, October 15th redemption deadline
- A Special Meeting of GSAH II stockholders held on October 19, 2021 approved the business combination, which is expected to close on October 20, 2021
NEW YORK–(BUSINESS WIRE)– GS Acquisition Holdings Corp II (“GSAH”) (NYSE:GSAH, GSAHU, GSAHWS))), a special purpose acquisition company, today announced that holders of approximately 5 million shares reversed their redemption status, increasing the GSAH trust proceeds expected to be available for the business combination by approximately $50 million since October 15, 2021.
The transaction is expected to raise approximately $604 million from GSAH trust proceeds, $900 million from a fully committed common stock private placement (PIPE) and $830 million from a senior secured term loan financing. A portion of the proceeds will be used to pay $1.3 billion to existing Mirion stockholders, to refinance approximately $909 million of existing Mirion third-party debt and to pay certain transaction expenses.
Upon completion of the business combination, GSAH will change its name to “Mirion Technologies, Inc.” Following the consummation of the business combination, Mirion’s Class A common stock and public warrants are expected to begin trading on the New York Stock Exchange under the symbols “MIR” and “MIRW”, respectively.
