The vote comes days after three shareholders, who together own 5.7% of Pushpay shares, made public statements against the deal.

The deal requires 75% of shareholders not associated with either Sixth Street or BGH Capital to vote in favour, but only 55.54% did.

Pushpay, Sixth Street and BGH Capital now have till Tuesday evening to hold further meetings with shareholders and try to win their votes.

The consortium, formally known as Pegasus Bidco Limited, is offering NZ$1.34 per Pushpay share, which was nearly at a 25% premium when the offer was made in October. Pushpay shares closed at NZ$1.27 on Thursday.

($1 = 1.6051 New Zealand dollars)

(Reporting by Harshita Swaminathan; Editing by Sherry Jacob-Phillips and Eileen Soreng)