XPAC Acquisition Corp. (NasdaqCM:XPAX) agreed to acquire Super Bac - Proteção Ambiental S.A. on April 25, 2022. As a result of the Business Combination, among other things: (i) each Class A ordinary share of an exempted company incorporated with limited liability in the Cayman Islands to be formed by SuperBac (“Newco”) issued and outstanding will automatically be cancelled and cease to exist in exchange for the right to receive such number or fraction of a newly issued Class A ordinary share of PubCo that is equal to the quotient obtained by dividing the Per Share Merger Equity Consideration Value (as defined in the Business Combination Agreement) by $ 10.00 (“Share Exchange Ratio”), without interest, subject to rounding, (ii) each Class B ordinary share of Newco issued and outstanding will automatically be cancelled and cease to exist in exchange for the right to receive such number or fraction of a newly issued Class B ordinary share of PubCo that is equal to the Share Exchange Ratio, without interest, subject to rounding.

Upon completion of the business combination the existing shareholders of SuperBac are expected to own approximately 45% of the total share capital of PubCo (which includes approximately 19% to be held by Temasek),XPAC's existing public shareholders are expected to own approximately 44% of the total share capital of PubCo, and the Sponsor is expected to own approximately 11% of the total share capital of PubCo, assuming no redemptions from XPAC's existing public shareholders and assuming no equity or debt financings being entered in connection with the business combination. The business combination, which has been approved by the Board of Directors of XPAC, is expected to close in the second half of 2022, and is subject to the approval of the shareholders of XPAC and SuperBac, effectiveness of the registration statement, initial listing application with Nasdaq in connection with the Transactions shall have been conditionally approved, Company having at least $ 5,000,001 in tangible net assets and other customary closing conditions. Transaction have also been approved by SuperBac's board of directors and SuperBac's shareholders.

As of December 2, 2022 extended the transaction from November 21, 2022 to January 31, 2023. As of December 12, 2022, SuperBac has convened an ordinary and extraordinary general meeting of its shareholders to be held on December 19, 2022. As on December 19, 2022, XPAC held an ordinary and extraordinary general meeting of its shareholders and approved the transaction.