KORE Group (NYSE:KORE) stockholders approved a merger agreement at a special meeting of stockholders, advancing a transaction involving KONA Parent, L.P. and KONA Merger Sub Co, entities affiliated with certain funds managed by Searchlight Capital Partners and Abry Partners.
Timothy Donahue, chairman of the board of KORE Group Holdings, Inc., presided over the webcast meeting and said stockholders were voting on three potential items: the merger agreement proposal, an advisory compensation proposal and, if necessary, an adjournment proposal. Because the merger agreement proposal was approved, the company did not call a vote on the adjournment proposal.
Merger Proposal Approved
Donahue said approval of the merger agreement proposal required the affirmative vote, in person or by proxy, of holders of a majority of the voting power represented by outstanding shares of company common stock entitled to vote under Delaware law. It also required approval by a majority of votes cast by “disinterested stockholders,” as defined in the proxy statement.
The company’s board of directors unanimously recommended that stockholders vote in favor of the merger agreement proposal. No stockholder questions or comments were submitted on the proposal during the meeting, according to Jack Kennedy, executive vice president, chief legal officer and secretary of KORE.
After the polls closed, Kennedy announced that the preliminary report of the inspector of election indicated the merger agreement proposal had been approved by the required stockholder votes, including both the required majority of outstanding voting power and the required majority of votes cast by disinterested stockholders.
Advisory Compensation Proposal Also Passes
Stockholders also approved, on an advisory and non-binding basis, compensation that may be paid or become payable to KORE’s named executive officers in connection with the consummation of the merger, as described in the proxy statement.
Donahue said approval of the advisory compensation proposal required the affirmative vote of holders of a majority in voting power of the votes cast, excluding abstentions and broker non-votes. He also noted that the vote was advisory only and would not be binding on the company, the board, the parent entity or the surviving corporation.
According to Donahue, if the merger agreement proposal is approved and the merger is consummated, the compensation will be payable regardless of the outcome of the advisory vote, subject to the applicable conditions described in the proxy statement. He said approval of the advisory compensation proposal is not a condition to consummation of the merger.
Kennedy reported that the preliminary vote showed the advisory compensation proposal had been approved by the stockholders by the affirmative vote of holders of a majority in voting power of the votes cast on the proposal.
Meeting Procedures and Attendance
During the meeting, Kennedy outlined procedures for stockholder questions and voting. He said the meeting agenda and rules of conduct were posted on the virtual meeting website, and that stockholders could submit questions during the meeting, subject to limits on relevance and length. He also said substantially similar questions could be grouped and answered together.
Donahue introduced members of the company’s board and several executives, including Ron Totton, president, chief executive officer and director; Anthony Bellomo, executive vice president, chief financial officer and treasurer; Bruce Gordon, executive vice president and chief operating officer; Jared Deith, executive vice president and chief revenue officer; and Gloria Garber, senior vice president and chief people officer.
Kennedy stated that notice of the meeting and related proxy materials were mailed on June 12, 2026, to stockholders of record as of the close of business on June 11, 2026. Barbara Howland was appointed inspector of election for the meeting.
After the preliminary results were announced, Donahue said the final report of the inspector of election would be filed with the minutes of the meeting and declared the meeting adjourned.
About KORE Group (NYSE:KORE)
KORE Group (NYSE: KORE) is a global provider of Internet of Things (IoT) connectivity and managed services, helping enterprises deploy, secure and scale their IoT applications. The company offers a comprehensive suite of solutions that includes cellular, satellite and Low-Power Wide-Area Network (LPWAN) connectivity, multi-network SIM management, eSIM provisioning and cloud-based IoT platforms. Through its unified approach, KORE enables businesses to streamline the complexities of device onboarding, monitoring and lifecycle management across diverse geographies.
Founded in 2002 and headquartered in Atlanta, Georgia, KORE has grown through a combination of organic innovation and strategic acquisitions to become one of the world’s largest independent IoT service providers.
