Millennium has reported that a total of 846,225 shares issued in its initial public offering were cast in opposition to the acquisition transaction and elected to be converted into a pro rate portion of the proceeds from the initial public offering held in trust, representing approximately 11.46% of the shares issued in the initial public offering.
According to the agreement cash in the amount of approximately $6.7 million will be paid to these shareholders. Closing of the acquisition transaction is expected to take place in the next several days.
