Empower Ltd. Shareholders Approve Business Combination with Holley
BOWLING GREEN, Ky.-- July 15, 2021 - (BUSINESS WIRE)--Empower Ltd. (NYSE: “EMPW” “EMPW-UN” and “EMPW-WT”) (“Empower”), a publicly-traded special purpose acquisition company, announced today that its shareholders voted to approve the business combination with Holley Intermediate Holdings Inc. (“Holley”).
“We are thrilled to reach this important milestone with Holley in the merger process,” said Matthew Rubel, Chairman of the Board and Chief Executive Officer of Empower. “The performance automotive aftermarket is vibrant and continues to experience substantial enthusiast and engagement growth, and we look forward to the emerging opportunities ahead with Holley as a public company.”
Empower held its extraordinary general meeting of shareholders to approve the proposed merger on Wednesday July 14, 2021. The closing of Empower’s business combination with Holley, subject to satisfaction of certain customary closing conditions, is expected to occur on or about Friday July 16, 2021. Upon closing, the combined company will be named Holley Inc. Its common stock will remain listed on the New York Stock Exchange under the new ticker symbol HLLY.
Holley is a leading designer, marketer, and manufacturer of high-performance products for car and truck enthusiasts. Holley offers the largest portfolio of iconic brands that deliver innovation and inspiration to a large and diverse community of millions of avid automotive enthusiasts who are passionate about the performance and personalization of their classic and modern cars. Holley has disrupted the performance category by putting the enthusiast consumer first, developing innovative new products, and building a robust M&A process that has added meaningful scale and diversity to its platform. For more information on Holley, visit www.holley.com.
About Empower Ltd.
Empower is a blank check company formed by MidOcean Partners whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Empower’s management team is led by Matt Rubel, its Chief Executive Officer and Executive Chairman of its Board of Directors, and Graham Clempson, Empower’s President. Empower raised $250,000,000 in its initial public offering in October 2020 and is listed on the NYSE under the ticker symbols “EMPW”, “EMPW-UN” and “EMPW-WT”. For more information, visit www.empowermidocean.com.