TLG Acquisition One holders approve business combination with Electriq Power

TLG Acquisition One Corp. announced that its stockholders voted to approve the previously announced business combination (the “Business Combination”) with Electriq Power, Inc. (“Electriq”) at TLG’s special meeting of stockholders in lieu of the 2023 annual meeting of stockholders held on July 25, 2023 (the “Special Meeting”). Over 98% of the votes cast at the Special Meeting were cast in favor of the approval of the Business Combination. TLG stockholders also voted to approve all other proposals presented at the Special Meeting. TLG plans to file the results of the Special Meeting, as tabulated by the inspector of election, with the Securities and Exchange Commission (the “SEC”) on a Form 8-K. The Business Combination is expected to close on Monday, July 31, 2023, subject to customary closing conditions. TLG estimates that the redemption price of TLG’s Class A common stock, par value $0.0001 per share, in connection with the Business Combination to be $10.63 per share. Additionally, TLG today announced that it has cancelled the special meeting of stockholders previously scheduled for July 27, 2023 (the “Extension Meeting”) to, among other things, vote upon a proposal to extend the date by which TLG could complete a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination. TLG determined that the Extension Meeting is no longer necessary since the Business Combination is expected to close prior to August 1, 2023, its current business combination deadline.