Pacifico Acquisition Corp. (NASDAQ:PAFO) shareholders have approved the SPAC's planned merger with Caravelle International Group and moved to redeem 99.6% of the company's outstanding public shares. Pacifico said in a filing that holders of 83% of its outstanding shares voted in favor of the deal. Based in Singapore, Caravelle is a provider of carbon-reducing technologies for the timber shipping and processing sector, including ocean drying for wood. New York-based SPAC Pacifico went public in September 2021, raising $50M. Caravelle and Pacifico announced plans in April to merge through a deal that estimated the enterprise value of the combined company at around $527M.