Item 2.01 Completion of Acquisition or Disposition of Assets.
The information set forth in the Introductory Note of this Current Report on Form 8-K is incorporated by reference into this Item 2.01. Capitalized terms used herein but not otherwise defined herein have the meanings ascribed to such terms in the Merger Agreement.
At
In addition, pursuant to the Merger Agreement, at the Effective Time:
? Each option to purchase shares of Common Stock that was vested in accordance
with its terms and outstanding as of immediately prior to the Effective Time
(each, a "Vested Company Option") was, automatically and without any required
action on the part of the holder thereof, cancelled and converted into the
right to receive an amount in cash, without interest, equal to the product
obtained by multiplying (x) the excess, if any, of (A) the Merger
Consideration over (B) the per share exercise price for such
Option by (y) the total number of shares of Common Stock underlying such
Vested Company Option, subject to applicable withholding taxes; provided,
however, that if the exercise price per share of Common Stock of such Vested
Company Option was equal to or greater than the Merger Consideration, such
Vested Company Option was cancelled without any cash payment or other
consideration being made in respect thereof. Each option to purchase shares of
Common Stock that was outstanding as of immediately prior to the Effective
Time and was not a Vested Company Option (each, an "Unvested Company Option")
was, automatically and without any required action on the part of the holder
thereof, converted into the contingent right to receive an amount in cash,
without interest, equal to the product obtained by multiplying (x) the excess,
if any, of (A) the Merger Consideration over (B) the per share exercise price
for such Unvested Company Option by (y) the total number of shares of Common
Stock underlying such Unvested Company Option, subject to applicable
withholding taxes; provided, however, that if the exercise price per share of
Common Stock of such Unvested Company Option was equal to or greater than the
Merger Consideration, such Unvested Company Option was cancelled without any
cash payment or other consideration being made in respect thereof. The
resulting amount will, subject to certain exceptions, vest and become payable
at the same time as the Unvested Company Option from which such resulting . . .
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing
The information set forth in the Introductory Note and Item 2.01 of this Current Report on Form 8-K is incorporated by reference into this Item 3.01.
On the Closing Date, the Company (i) notified the
Item 3.03 Material Modification to Rights of Security Holders.
The information set forth in the Introductory Note and Items 2.01, 3.01, 5.01 and 5.03 of this Current Report on Form 8-K is incorporated by reference into this Item 3.03.
As a result of the Merger, each share of Common Stock that was issued and outstanding immediately prior to the Effective Time (except as described in Item 2.01 of this Current Report on Form 8-K) was converted, at the Effective Time, into the right to receive the Merger Consideration. Accordingly, at the Effective Time, the holders of such shares of Common Stock ceased to have any rights as stockholders of the Company, other than the right to receive the Merger Consideration.
Item 5.01 Change in Control of Registrant.
The information set forth in the Introductory Note and Items 2.01, 3.01, 3.03 and 5.03 of this Current Report on Form 8-K is incorporated by reference into this Item 5.01.
As a result of the Merger, at the Effective Time, a change of control of the Company occurred, and the Company became a wholly owned subsidiary of Parent.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
The information set forth in the Introductory Note of this Current Report on Form 8-K is incorporated by reference into this Item 5.02.
Pursuant to the Merger Agreement, at the Effective Time, each of
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal
Year.
The information set forth in the Introductory Note of this Current Report on Form 8-K is incorporated by reference into this Item 5.03.
In connection with the completion of the Merger and pursuant to the Merger Agreement, upon the Effective Time, the Company's certificate of incorporation and bylaws were amended and restated in their entirety. A copy of the Amended and Restated Certificate of Incorporation and the Amended and Restated Bylaws is filed as Exhibit 3.1 and 3.2 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 5.07. Submission of Matters to a Vote of Security Holders.
At a special meeting of stockholders of the Company held on
As of
At the Special Meeting, the Company's stockholders voted on a proposal to adopt
the Merger Agreement (the "Merger Agreement Proposal"). The Merger Agreement
Proposal is described in detail in the Company's definitive proxy statement for
the Special Meeting filed with the
The following votes were cast at the Special Meeting (in person or by proxy) and the Merger Agreement Proposal was approved:
Votes Votes For Against Abstentions 122,477,977 4,629,647 38,639
The proposal to approve the adjournment of the Special Meeting to a later date or dates, if necessary or appropriate, to solicit additional proxies if there were insufficient votes to adopt the Merger Agreement, was not voted upon at the Special Meeting since there were sufficient votes to approve the Merger Agreement Proposal.
Item 8.01 Other Events.
On
Item 9.01 Financial Statements and Exhibits
(d) Exhibits. Exhibit No. Description 2.1 Agreement and Plan of Merger, dated as ofOctober 26, 2022 , by and amongUserTesting, Inc. ,Thunder Holdings, LLC andThunder Merger Sub, Inc. (incorporated by reference to Exhibit 2.1 toUserTesting, Inc.'s Current Report on Form 8-K, filedOctober 27, 2022 ). 3.1 Amended and Restated Certificate of Incorporation. 3.2 Amended and Restated Bylaws. 99.1 Press Release, datedJanuary 12, 2023 . 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
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