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EX-99.1 - EXHIBIT 99.1 - Vy Global Growthtm2032784d1_ex99-1.htm

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

FORM 8-K

 

 

 

CURRENT REPORT

Pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 6, 2020

 

 

 

Vy Global Growth

(Exact name of registrant as specified in its charter)

 

 

 

Cayman Islands   001-39588    

(State or other jurisdiction of

 

incorporation or organization)

  (Commission File Number)  

(I.R.S. Employer

 

Identification Number)

 

Floor 4, Willow House, Cricket Square
Grand Cayman, Cayman Islands
  KY1-9010
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code: 971 427 01 400

 

Not Applicable

(Former name or former address, if changed since last report)

 

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class  

Trading

 

Symbol(s)

 

Name of each exchange

 

on which registered

Units, each consisting of one Class A ordinary share and one Warrant to acquire one-fifth Class A ordinary share   VYGG.U   The New York Stock Exchange
Class A ordinary share, par value $0.0001 per share   VYGG   The New York Stock Exchange
Warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50   VYGG.W   The New York Stock Exchange

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

 

Emerging growth company  x

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ¨

 

 

 

 

 

Item 8.01. Other Events.

 

On October 6, 2020, Vy Global Growth (the “Company”) consummated an initial public offering (the “IPO”) of 57,500,000 units (the “Units”), which included the exercise of the underwriters’ option to purchase an additional 7,500,000 Units at the initial public offering price to cover over-allotments, at an offering price of $10.00 per Unit and a private placement with Vy Global Growth Management Co. (the “Sponsor”) of 9,000,000 private placement warrants at a purchase price of $1.50 per warrant (the “Private Placement”). Each Unit consists of one of the Company’s Class A ordinary shares, $0.0001 par value per share (the “Class A Ordinary Shares”), and one-fifth of one redeemable warrant (the “Public Warrants”), each whole Public Warrant entitling the holder thereof to purchase one Class A Ordinary Share at an exercise price of $11.50 per share, subject to adjustment. The net proceeds from the IPO, together with certain of the proceeds from the Private Placement, $575,000,000 in the aggregate (the “Offering Proceeds”), were placed in a U.S.-based trust account at J.P. Morgan Chase Bank, N.A., established for the benefit of the Company’s public shareholders and the underwriters of the IPO with Continental Stock Transfer & Trust Company acting as trustee.

 

An audited balance sheet as of October 6, 2020 reflecting receipt of the Offering Proceeds has been issued by the Company and is included as Exhibit 99.1 to this Current Report on Form 8-K.

 

  Item 9.01. Financial Statements and Exhibits.

 

 (d)  Exhibits

 

EXHIBIT INDEX

 

Exhibit
No.

  Description
99.1   Audited Balance Sheet as of October 6, 2020.

 

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Dated: October 13, 2020

 

  VY GLOBAL GROWTH
   
   
  By: /s/ John Hering
  Name:  John Hering
  Title: Chief Executive Officer