Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 30, 2022, Danny Yamin, Chief Executive Officer of Byte Acquisition
Corp., a Cayman Islands exempted company (the "Company"), resigned as Chief
Executive Officer of the Company. Mr. Yamin's resignation was not the result of
any dispute or disagreement with the Company or the Company's board of directors
(the "Board") on any matter relating to the Company's operations, policies or
practices. Mr. Yamin will remain a director of the Company.
Simultaneously with Mr. Yamin's resignation, the Board appointed Sam Gloor to
serve as the Company's Chief Executive Officer. Mr. Gloor will also continue to
act as the Company's Chief Financial Officer.
Sam Gloor, 36, has been our Chief Financial Officer since January 2021. Mr.
Gloor is an experienced investment banker that has transacted in the TMT,
consumer, healthcare, industrial, oil & gas and specialty finance verticals.
Since November 2020, Mr. Gloor has been the Founder and Managing Member of
Sagara Group, LLC, where he specializes in strategic consulting and business
services for growth-stage companies, alternative asset managers and others. From
October 2018 to August 2020, Mr. Gloor was a member of the Financial
Institutions Group at Nomura specializing in SPAC and Specialty Finance
investment banking. From November 2014 to September 2018, Mr. Gloor was a member
of the Advisory & Financing Group at Societe Generale Corporate & Investment
Banking, where he provided event-driven bridge and term lending and capital
structure advisory services to blue-chip corporate clients and completed several
prominent financing transactions supporting M&A and corporate actions. Mr. Gloor
received an M.Sc. in Accounting and Finance from the London School of Economics
and Political Science in London, United Kingdom and a BBA from the Norwegian
Business School in Oslo, Norway.
On November 30, 2022, the Company assigned the Administrative Services
Agreement, previously entered into by and between the Company and its sponsor,
Byte Holdings LP, to Sagara Group, LLC, which is a company controlled by Mr.
Gloor.
Other than the foregoing, Mr. Gloor is not party to any arrangement or
understanding with any person pursuant to which he was appointed as Chief
Executive Officer, nor is he party to any transactions required to be disclosed
under Item 404(a) of Regulation S-K involving the Company.
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