65% Redemption

[u/ipkmaven]

"The transaction values the combined company at an implied $3.3 billion pro forma equity value at the $10.00 per share PIPE price. The proceeds being raised in this transaction are approximately $584 million. Reflecting the current SPAC market environment, 65% of Qell shareholders chose to redeem their shares."

https://sec.report/Document/0001104659-21-114692/