Item 1.01 Entry into a Material definitive Agreement.
The Merger Agreement
On
Upon their formation, each of Purchaser and Merger Sub shall sign a joinder agreement, agreeing to be bound by the Merger Agreement as if such parties were parties thereto on the date of its signing.
Consideration
In consideration of the Acquisition Merger, Purchaser will issue
150,000,000ordinary shares (the "Closing Payment Shares") with a deemed price
per share
The Closing
Arisz and the Company have agreed that the closing of the Business Combination
(the "Closing") shall occur no later than
Representations and Warranties
In the Merger Agreement, the Company makes certain representations and warranties (with certain exceptions set forth in the disclosure schedule to the Merger Agreement) relating to, among other things: (a) proper corporate existence and power of the Company and its subsidiaries (together, the "Company Parties") and similar corporate matters; (b) authorization, execution, delivery and enforceability of the Merger Agreement and other transaction documents; (c) no need for governmental authorization for the execution, delivery or performance of the Merger Agreement and additional agreements thereto (the "Additional Agreements"); (d) absence of conflicts; (e) capital structure of the Company; (f) accuracy of charter documents and corporate records of the Company Parties; (g) accuracy of the list of all assumed or "doing business as" names used by the Company Parties; (h) required consents and approvals; (i) financial information; (j) books and records; (k) absence of certain changes or events; (l) title to assets and properties; (m) litigation; (n) material contracts; (o) licenses and permits; (p) compliance with laws; (q) ownership of intellectual property; (r) customers and suppliers; (s) accounts receivable and payable; (t) prepayments; (u) employees and benefits; (s) employment matters; (t) leases; (u) tax matters; (v) environmental laws; (w) finders' fees; (x) powers of attorney and suretyships; (y) directors and officers; (z) international trade matters and anti-bribery compliance; (aa) that the Company is not an investment company; (bb) affiliate transactions; (cc) privacy laws; (dd) OFAC; (ee) board approval, (ff) the truthfulness of other information; and (gg) other customary representations and warranties.
In the Merger Agreement, Arisz, on its behalf and also on behalf of Purchaser
and Merger Sub when formed (together, the "Parent Parties") make certain
representations and warranties relating to, among other things: (a) proper
corporate existence and power; (b) authorization, execution, delivery and
enforceability of the Merger Agreement and other transaction documents; (c) no
need for governmental authorization for the execution, delivery or performance
of the agreement and Additional Agreements; (d) absence of conflicts; (e)
finders' fees; (f) issuance of the Aggregate Stock Consideration; (g) capital
structure; (h) information supplied; (i) minimum trust fund amount; (j) validity
of
1
Conduct Prior to Closing; Covenants Pending Closing
The Company and the Parent Parties have agreed to operate their respective business in the ordinary course, consistent with past practices, prior to the closing of the transactions (with certain exceptions) and not to take certain specified actions without the prior written consent of the other party.
The Merger Agreement also contains customary closing covenants.
Conditions to Closing General Conditions to Closing
Consummation of the Merger Agreement and the transactions herein is conditioned
on, among other things, (i) no provisions of any applicable law and no order
prohibiting or preventing the consummation of the closing; (ii) there not being
any action brought by a third party that is not an affiliate of the parties
hereto to enjoin or otherwise restrict the consummation of the closing; (iii)
all consents, approvals and filings required to consummate the transactions
contemplated by the Merger Agreement shall have been made or obtained; (iv) the
Company's Conditions to Closing
The obligations of the Company to consummate the transactions contemplated by the Merger Agreement, in addition to the conditions described above, are conditioned upon each of the following, among other things: . . .
Item 3.02 Unregistered Sales of
The disclosure set forth above under the heading "PIPE Subscription Agreements"
in Item 1.01 of this Current Report on Form 8-K is incorporated by reference
herein.
Item 7.01 Regulation FD Disclosure
On
Attached hereto as Exhibit 99.2 and incorporated into this Item 7.01 by reference is the investor presentation that will be used by Arisz in making presentations to certain existing stockholders of Arisz and other persons with respect to the Business Combination.
The information in this Item 7.01 (including Exhibits 99.1 and 99.2) is being furnished and shall not be deemed to be filed for purposes of Section 18 of the Exchange Act , or otherwise be subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act.
6 IMPORTANT NOTICES
Important Notice Regarding Forward-Looking Statements
This Current Report on Form 8-K contains certain "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, both as amended. Statements that are not historical facts, including statements about the pending transactions described above, and the parties' perspectives and expectations, are forward-looking statements. Such statements include, but are not limited to, statements regarding the proposed transaction, including the anticipated initial enterprise value and post-closing equity value, the benefits of the proposed transaction, integration plans, expected synergies and revenue opportunities, anticipated future financial and operating performance and results, including estimates for growth, the expected management and governance of the combined company, and the expected timing of the transactions. The words "expect," "believe," "estimate," "intend," "plan" and similar expressions indicate forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to various risks and uncertainties, assumptions (including assumptions about general economic, market, industry and operational factors), known or unknown, which could cause the actual results to vary materially from those indicated or anticipated.
Such risks and uncertainties include, but are not limited to: (i) risks related
to the expected timing and likelihood of completion of the pending transaction,
including the risk that the transaction may not close due to one or more closing
conditions to the transaction not being satisfied or waived, such as regulatory
approvals not being obtained, on a timely basis or otherwise, or that a
governmental entity prohibited, delayed or refused to grant approval for the
consummation of the transaction or required certain conditions, limitations or
restrictions in connection with such approvals; (ii) risks related to the
ability of Arisz and the Company to successfully integrate the businesses; (iii)
the occurrence of any event, change or other circumstances that could give rise
to the termination of the applicable transaction agreements; (iv) the risk that
there may be a material adverse change with respect to the financial position,
performance, operations or prospects of the Company or Arisz; (v) risks related
to disruption of management time from ongoing business operations due to the
proposed transaction; (vi) the risk that any announcements relating to the
proposed transaction could have adverse effects on the market price of Arisz's
securities; (vii) the risk that the proposed transaction and its announcement
could have an adverse effect on the ability of the Company to retain customers
and retain and hire key personnel and maintain relationships with their
suppliers and customers and on their operating results and businesses generally;
(viii) the risk that the combined company may be unable to achieve cost-cutting
synergies or it may take longer than expected to achieve those synergies; and
(ix) risks associated with the financing of the proposed transaction. A further
list and description of risks and uncertainties can be found in the Prospectus
dated
Additional Information and Where to Find It
In connection with the transaction described herein, Arisz and and/or its
subsidiary will file relevant materials with the
7 Participants in Solicitation
Arisz, the Company and certain shareholders of Arisz, and their respective
directors, executive officers and employees and other persons may be deemed to
be participants in the solicitation of proxies from the holders of Arisz common
stock in respect of the proposed transaction. Information about Arisz's
directors and executive officers and their ownership of Arisz common stock is
set forth in the Prospectus dated
No Offer or Solicitation
This Current Report on Form 8-K is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the transactions described above and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Arisz or the Company, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.
Item 9.01. Financial Statements and Exhibits.
Exhibit No. Description 2.1* Merger Agreement datedJanuary 21, 2022 by and between Arisz andFinfront Holding Company , 10.1 Form of PIPE Subscription Agreement 10.2 Sponsor Support Agreement datedJanuary 21, 2022 , by and among Arisz and certain holders of Arisz common stock 10.3 Shareholder Support Agreement datedJanuary 21, 2022 by and among certain holders of Company ordinary shares 10.4 Form of Lock-Up Agreement 10.5 Form of Amended and Restated Registration Rights Agreement 10.6 Amended and Restated Subscription Agreements, by and between Arisz and the Sponsor and by and betweenArisz andChardan Capital Markets, LLC 99.1 Press Release datedJanuary 25, 2022 99.2 Investor Presentation
* Schedules and exhibits have been omitted pursuant to Item 601(b)(2) of
Regulation S-K. The registrant hereby undertakes to furnish copies of any of
the omitted schedules and exhibits upon request by the
Exchange Commission . 8
© Edgar Online, source