ARC Document Solutions Stockholders Approve Merger Agreement and Related Proposals

ARC Document Solutions, Inc. (NYSE: ARC) recently held a Special Meeting of Stockholders on November 21, 2024. At the meeting, several proposals were voted upon by the stockholders, with significant outcomes reported.

The first proposal, known as the Merger Agreement Proposal, involved the approval and adoption of the Agreement and Plan of Merger dated August 27, 2024, among TechPrint Holdings, LLC, TechPrint Merger Sub, Inc., and ARC Document Solutions, Inc. The stockholders gave their approval for Merger Sub to merge with ARC Document Solutions, Inc., with the latter remaining as the surviving corporation under TechPrint Holdings, LLC. The final voting results for this proposal showed 31,274,519 votes in favor, 1,455,989 votes against, and 889,538 abstentions.

The second proposal, the Merger-Related Compensation Proposal, received approval on a nonbinding, advisory basis concerning compensation arrangements for named executive officers in connection with the merger. The voting results indicated 27,739,291 votes for, 3,198,370 votes against, and 2,682,385 abstentions.

In addition, the third proposal, the Adjournment Proposal, was approved by stockholders as well. This proposal involved the approval to adjourn the Special Meeting if necessary, including adjournments to solicit additional proxies in case of insufficient votes for the Merger Agreement Proposal. However, the adjournment of the meeting was deemed unnecessary as there was a sufficient quorum present to approve the Merger Agreement Proposal at the time of the meeting. The final voting results for the Adjournment Proposal were 30,677,007 votes for, 2,282,450 votes against, and 660,589 abstentions.

Although the company did not require an adjournment, the meeting concluded with all proposals receiving the necessary approvals. These decisions mark significant steps as ARC Document Solutions, Inc. progresses with the merger process.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read ARC Document Solutions’s 8K filing here.

ARC Document Solutions Company Profile

ARC Document Solutions, Inc, a digital printing company, provides digital printing and document-related services in the United States. It provides managed print services, that places, manages, and optimizes print and imaging equipment in customers' offices, job sites, and other facilities; and cloud-based document management software and other digital hosting services.