ASV Holdings, Inc., a provider of rubber-tracked compact track loaders and wheeled skid-steer loaders in the compact construction equipment market, announced that at a special meeting of stockholders held earlier this week, its stockholders voted to adopt the merger agreement pursuant to which ASV will be acquired by Yanmar America Corporation in an all-cash transaction, which was first announced on June 27, 2019.
A total of 7,998,119 shares were voted in favor of the proposal to adopt the merger agreement, representing approximately 80.7% of the outstanding shares of ASV’s common stock entitled to vote at the special meeting and approximately 99.9% of the shares voted at the special meeting. ASV will file the final voting results with the Securities and Exchange Commission on a Current Report on Form 8-K.
Under the terms of the merger agreement, each share of ASV common stock will be converted into the right to receive $7.05 in cash, without interest. The transaction is expected to close on September 11, 2019, subject to customary closing conditions. Upon the closing of the transaction, ASV common stock will be de-listed from the Nasdaq Capital Market.