Lakeshore Acquisition I Corp today announced that its shareholders have approved all proposals related to the previously announced business combination with the oral appliance therapy company ProSomnus at a special meeting of shareholders held on Dec. 2, 2022.
Approximately 92.4% of the votes cast at the meeting on the business combination proposal, representing approximately 80.5% of Lakeshore’s outstanding shares, voted to approve the business combination.
The closing of the business combination is anticipated to occur on or about Dec. 6, 2022. Following the closing, the combined company will operate as ProSomnus, Inc., and its shares of common stock and warrants are expected to trade on the Nasdaq Capital Market under the symbols “OSA” and “OSAW,” respectively, on December 7, 2022.
Lakeshore Acquisition I Corp. is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities.