Hall of Fame Resort shareholders approve merger with HOFV Holdings

Hall of Fame Resort & Entertainment Company (OTC:HOFV) shareholders approved a merger agreement with HOFV Holdings, LLC during a reconvened special meeting held Wednesday. The meeting, which was originally convened on September 16, saw participation from holders of 4,172,273 shares, representing 62.1% of the company’s voting authority and constituting a quorum.

According to a statement released in a Securities and Exchange Commission filing, 3,396,118 shares were voted in favor of the merger, 733,949 shares were voted against, and 42,206 shares abstained. There were no broker non-votes recorded. This merger vote comes as the company faces significant operational challenges, with InvestingPro analysis showing concerning metrics including a weak current ratio of 0.08 and substantial debt levels.

The approved agreement, originally dated May 7, 2025, outlines that Omaha Merger Sub, Inc. will merge with and into Hall of Fame Resort & Entertainment Company, with the company surviving as a wholly owned subsidiary of HOFV Holdings. CH Capital Lending, LLC is named as guarantor in the agreement.

The completion of the merger remains subject to the satisfaction or waiver of the conditions set forth in the merger agreement by the involved parties.

This information is based on a press release statement filed with the Securities and Exchange Commission.

In other recent news, Hall of Fame Resort & Entertainment Co has made several noteworthy announcements. The company has adjourned its special stockholder meeting to September 24, 2025, to allow additional time for soliciting proxies from stockholders. This meeting was initially held in a virtual format, and stockholders of record as of August 1, 2025, have been encouraged to participate and vote. In another development, Hall of Fame Resort & Entertainment Co has increased its credit facility with CH Capital Lending, LLC from $14 million to $15 million. This increase allows the company and its subsidiaries to request an additional $1 million for general corporate purposes, albeit with certain restrictions. CH Capital Lending is affiliated with Stuart Lichter, a director at Hall of Fame Resort & Entertainment Co. The Ninth Amendment to the Note and Security Agreement was signed by the company and its subsidiaries, including HOF Village Newco, LLC, HOF Village Retail I, LLC, and HOF Village Retail II, LLC.

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