Key Highlights

  • Shares are trading 16.27% lower at USD 7.05 on Thursday, October 29, 2026, pointing to a prior close near USD 8.42 (calculated).
  • Shareholders approved the Everli business combination on October 22, 2026.
  • The merger agreement dated July 30, 2025 put the combination's value at $180 million.
  • Holders of 3,852,564 Class A shares reportedly redeemed before the vote.
  • Everli reported 900,000 completed orders and $81 million of gross transaction volume for 2024.

Shares Drop 16.27% Despite the Merger Vote: What Explains the Fall?

Melar Acquisition I (NASDAQ:MACI) shares are trading 16.27% lower at USD 7.05 on Thursday, October 29, 2026, implying a prior close near USD 8.42 (calculated). The company released nothing dated October 29 alongside the decline.

Melar is a Cayman Islands special purpose acquisition company that priced 15,000,000 units at USD 10.00 on June 17, 2024 and raised $150 million. On Thursday, October 22, 2026, its shareholders approved the business combination with Everli Global, together with all related proposals, at an extraordinary general meeting.

Deal Terms: What the Melar and Everli Merger Agreement Includes

The agreement and plan of merger carries a July 30, 2025 date and was amended on October 2, 2025 and December 8, 2025. The combination was valued at $180 million at signing, and a $10 million loan facility for Everli, announced on December 10, 2025, was linked to a planned public debut in the first quarter of 2026.

The merged business will be called Everli Global Holdings, and its Class A common stock and warrants are expected to trade on Nasdaq as EVRL and EVRLW. The sponsor is Melar Acquisition Sponsor I.

Inside Everli: The Scale of an Italian Online Grocery Marketplace

Everli is an Italian e-grocery marketplace that manages online ordering, in-store picking and last-mile delivery for grocery retailers. It reports partnerships with more than 95 retailers, among them Italy's 13 largest grocers, and activity across more than 60 provinces. Trained shoppers work under a union-endorsed delivery framework, which the company describes as a point of difference in Italian grocery delivery.

For 2024 it reported 900,000 completed orders, $81 million of gross transaction volume, a 23% take rate and a 22% gross margin.

Redemption Questions: How Much Cash Will Reach the Merged Company?

A news summary says holders of 3,852,564 Class A shares used their redemption rights before the vote. It also mentions a small remaining trust balance and suggests the combined company may require outside funding, though the company's own release provides no redemption or trust figures.

Redemptions cut the cash a special purpose acquisition company can pass to the merged business, so investors follow them closely near closing. Units were sold at USD 10.00, which means USD 7.05 is about 29.5% beneath that level (calculated).

Closing Timeline and the Switch to EVRL: What Comes Next

Melar says it expects to finish the combination promptly once the remaining conditions are met or waived, and it will file a Form 8-K with the full voting results. Items to follow include the closing date, Everli's first results as a public company, the move to the EVRL ticker, final redemption figures and any financing news from Everli Global Holdings.