Item 1.01 Entry into a Material Definitive Agreement.
Business Combination Agreement
OnJanuary 10, 2023 , the Company entered into the Business Combination Agreement. The paragraph below amends and replaces in its entirety the paragraph under the heading "Business Combination Agreement-TKB Merger" of Item 1.01 "Entry into a Material Definitive Agreement" of the Original Filing. Capitalized terms used in this Amendment but not defined herein have the meaning ascribed to such terms in the Business Combination Agreement.
TKB Merger
At the effective time of the TKB Merger, by virtue of the TKB Merger and without any action on the part of the holders of any shares of the capital stock of TKB, each TKB ordinary share issued and outstanding immediately prior to the effective time (other than (i) any ordinary shares of TKB held by shareholders of TKB that have validly exercised redemption rights under the TKB organizational documents, (ii) any ordinary shares of TKB held in the treasury of TKB or owned by the Company and (iii) any ordinary shares of TKB held by shareholders of TKB that have validly exercised dissenters rights) will be converted into the right to receive Holdco Common Shares based on a floating exchange ratio. The exchange ratio will be determined by dividing$11.25 by the Company's volume weighted price per share for the 15 consecutive trading days immediately preceding the second trading day prior to the TKB shareholders meeting to be held in connection with the Business Combination, subject to a minimum exchange ratio of 3.75 and a maximum exchange ratio of 22.50. Each TKB warrant issued and outstanding immediately prior to the effective time of the TKB Merger will be assumed byHoldco and the exercise price and number of underlying Holdco Common Shares will be adjusted according to the exchange ratio. Each TKB unit issued and outstanding immediately prior to the effective time of the TKB Merger will be automatically detached and the holder of each unit will be deemed to hold one TKB Class A ordinary share and one-half of a TKB public warrant, which underlying Class A ordinary share and public warrant will be converted in accordance with the terms explained above.
Other Matters
The description of the Business Combination included in the Original Filing as amended by this Amendment does not purport to be complete and is qualified in its entirety by reference to the terms and conditions of the Business Combination Agreement, a copy of which is filed with this Amendment as Exhibit 2.1 and is incorporated herein by reference. The Business Combination Agreement is being filed to provide investors and security holders with information regarding its terms. It is not intended to provide any other factual or financial information about the Company, TKB, or their respective subsidiaries and affiliates. --------------------------------------------------------------------------------
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits The following exhibits are being filed herewith: Exhibit Number
Description 2.1 Business Combination Agreement, dated as of
Wejo Group Limited , Green Merger Subsidiary
Limited and TKB Technologies
Ltd. (*) 10.1 Form of Sponsor Voting Agreement by and among
Group Limited and certain shareholders of TKB Critical Technologies 1. 10.2 Form of Wejo Voting Agreement by and between
TKB Critical Technologies 1
and certain shareholders ofWejo Group Limited . 99.1 Form of Registration Rights Agreement, by and
among
TKB Critical Technologies 1, TKB Sponsor 1, LLC, and the other parties listed on the signature pages thereto . (*) Certain schedules and exhibits to the Business Combination Agreement have been omitted from this filing pursuant to Item
601(b)(2) of Regulation S-K.
The Company will furnish copies of any such
schedules or exhibits to the
upon request.
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