Centricus Acquisition Corp. (Nasdaq: CENH, CENHW, CENHU), a publicly traded special purpose acquisition company, announced that its shareholders voted to approve its proposed business combination with Arqit Quantum Inc., according to a company statement.
Arqit is a leader in quantum encryption technology. The company’s chief product is called QuantumCloud™. According to the statement, the technology enables devices to download a software agent of less than 200 lines of code, which can create keys in partnership with any other device. The keys reportedly are computationally secure, don’t exist until the moment they are needed and can never be known by a third party.
The business combination is expected to close on or about Sept. 3, 2021, subject to the satisfaction of customary closing conditions. Following the closing, the combined company will operate as Arqit, and on or about Sept. 7, 2021 its ordinary shares and warrants are expected to begin trading on the Nasdaq Capital Market under the new ticker symbols “ARQQ” and “ARQQW,” respectively.
Approximately 92% of the votes cast on the business combination proposal at the meeting, representing approximately 65% of Centricus’ outstanding shares, were in favor of approving the business combination proposal, according to the statement.
On May 12, 2021, Arqit entered into a definitive agreement to combine with Centricus Acquisition Corp.
The formal results of the vote will be included on a Form 8-K to be filed with the U.S. Securities and Exchange Commission.