Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On August 16, 2022, Munish Varma voluntarily resigned as Chief Executive
Officer, Chairman and member of the Board of Directors (the "Board") of SVF
Investment Corp. 2 (the "Company"), effective immediately. The resignation of
Mr. Varma was not due to any disagreements with the Company on any matter
relating to the Company's operations, policies or practices. In addition, on
August 16, 2022, the Board decreased its size from five to four directors in
response to the resignation of Mr. Varma.
Also, on August 16, 2022, the Board appointed Navneet Govil to serve as Chief
Executive Officer of the Company. Mr. Govil has served as a member of the Board
and the Chief Financial Officer of the Company since the Company's initial
public offering on March 11, 2021. There are no arrangements or understandings
between Mr. Govil and any other persons pursuant to which Mr. Govil was
appointed as Chief Executive Officer of the Company. Mr. Govil previously
executed the Company's standard form of indemnity agreement for directors and
officers and a joinder to the letter agreement, dated March 8, 2021, by and
among the Company, SVF Sponsor II (DE) LLC (the "Sponsor") and each of the
Company's officers and directors. In addition, Mr. Govil controls the Sponsor,
which is party to the following agreements:
• Private Placement Shares Purchase Agreement, dated March 8, 2021, between the
Company and the Sponsor;
• Registration and Shareholder Rights Agreement, dated March 8, 2021, by and
among the Company and the Sponsor; and
• Administrative Services Agreement, dated March 8, 2021, between the Company
and the Sponsor.
A description of each of the foregoing agreements can be found in the Company's
Current Report on Form 8-K, filed on March 12, 2021.
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