Attached files
file | filename |
---|---|
EX-10.5 - EXHIBIT 10.5 - Climate Real Impact Solutions II Acquisition Corp | nt10017609x10_ex10-5.htm |
EX-10.4 - EXHIBIT 10.4 - Climate Real Impact Solutions II Acquisition Corp | nt10017609x10_ex10-4.htm |
EX-10.3 - EXHIBIT 10.3 - Climate Real Impact Solutions II Acquisition Corp | nt10017609x10_ex10-3.htm |
EX-10.2 - EXHIBIT 10.2 - Climate Real Impact Solutions II Acquisition Corp | nt10017609x10_ex10-2.htm |
EX-10.1 - EXHIBIT 10.1 - Climate Real Impact Solutions II Acquisition Corp | nt10017609x10_ex10-1.htm |
EX-4.1 - EXHIBIT 4.1 - Climate Real Impact Solutions II Acquisition Corp | nt10017609x10_ex4-1.htm |
EX-3.1 - EXHIBIT 3.1 - Climate Real Impact Solutions II Acquisition Corp | nt10017609x10_ex3-1.htm |
EX-1.1 - EXHIBIT 1.1 - Climate Real Impact Solutions II Acquisition Corp | nt10017609x10_ex1-1.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): January 26, 2021
CLIMATE REAL IMPACT SOLUTIONS II
ACQUISITION CORPORATION
(Exact name of registrant as specified in its charter)
Delaware
|
001-39944
|
85-4141622
|
||
(State or other jurisdiction of incorporation or organization)
|
(Commission File Number)
|
(I.R.S. Employer Identification Number)
|
300 Carnegie Center, Suite 150
Princeton, NJ
|
08540
|
|
(Address of principal executive offices)
|
(Zip Code)
|
Registrant’s telephone number, including area code: (212) 847-0360
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 to 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 share of Class A common stock, $0.0001 par value, and one-fifth of one redeemable warrant
|
CLIM.U
|
New York Stock Exchange LLC
|
||
Shares of Class A common stock included as part of the units
|
CLIM
|
New York Stock Exchange LLC
|
||
Redeemable warrants included as part of the units, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50
|
CLIM WS
|
New York Stock Exchange LLC
|
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 ☒
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 1.01 Entry into a Material Definitive Agreement.
On January 26, 2021, the Registration Statement on Form S-1 (File No. 333-251983) (the “Registration Statement”) relating to the initial public offering (the “IPO”) of Climate Real Impact Solutions II Acquisition
Corporation (the “Company”) was declared effective by the U.S. Securities and Exchange Commission. On January 29, 2021, the Company consummated the IPO of 24,150,000 units (the “Units”), including 3,150,000 Units sold pursuant to the full exercise of
the underwriters’ option to purchase additional Units to cover overallotments. Each Unit consists of one share of Class A common stock, $0.0001 par value per share (the “Class A Common Stock”), and one-fifth of one redeemable warrant (the “Public
Warrants”), each whole Public Warrant entitling the holder thereof to purchase one share of Class A Common Stock at an exercise price of $11.50 per share, subject to adjustment. The Units were sold at an offering price of $10.00 per Unit, generating
gross proceeds of $241,500,000 (before underwriting discounts and commissions and offering expenses). Further, in connection with the IPO, the Company entered into the following agreements, forms of which were previously filed as exhibits to the
Registration Statement:
●
|
an Underwriting Agreement, dated January 26, 2021, between the Company, Barclays Capital Inc. and BofA Securities, Inc., as representatives of the several underwriters, which contains customary representations and warranties by the
Company, conditions to closing and indemnification obligations of the Company and the underwriters;
|
|
●
|
a Warrant Purchase Agreement, dated January 26, 2021, between the Company and Climate Real Impact Solutions II Sponsor, LLC (the “Sponsor”), pursuant to which the Sponsor purchased 4,553,333 private placement warrants, each exercisable to
purchase one share of Class A Common Stock at $11.50 per share, subject to adjustment, at a price of $1.00 per warrant (the “Private Placement Warrants”);
|
|
●
|
a Warrant Agreement, dated January 26, 2021, between the Company and Continental Stock Transfer & Trust Company, as warrant agent (the “Warrant Agreement”), which sets forth the expiration and exercise price of and procedure for
exercising the Warrants; certain adjustment features of the terms of exercise; provisions relating to redemption and cashless exercise of the Warrants; provision for amendments to the Warrant Agreement; and indemnification of the warrant
agent by the Company under the agreement;
|
|
●
|
an Investment Management Trust Agreement, dated January 26, 2021, between the Company and Continental Stock Transfer & Trust Company, as trustee, which establishes the trust account that will hold the net proceeds of the IPO and
certain of the proceeds of the sale of the Private Placement Warrants, and sets forth the responsibilities of the trustee; the procedures for withdrawal and direction of funds from the trust account; and indemnification of the trustee by the
Company under the agreement;
|
|
●
|
a Registration and Stockholder Rights Agreement, dated January 26, 2021, among the Company, the Sponsor and the other Holders (as defined therein) signatory thereto, which provides for customary demand and piggy-back registration rights
for the Holders, as well as certain transfer restrictions applicable to the Holders with respect to the Company securities they hold;
|
|
●
|
a Letter Agreement, dated January 26, 2021, among the Company, the Sponsor, each member of the Sponsor, each of the Company’s executive officers and directors and certain consultants of the Company, pursuant to which each of the initial
stockholders have agreed to vote any shares of Class A Common Stock held by him, her or it in favor of the Company’s initial business combination; to facilitate the liquidation and winding up of the Company if an initial business combination
is not consummated within 24 months or such longer period as is approved by the Company’s stockholders; to certain transfer restrictions with respect to the Company’s securities; and, as to the Sponsor, certain indemnification obligations;
|
|
●
|
Indemnification Agreements, each dated January 26, 2021, between the Company and each of the officers and directors of the Company, pursuant to which the Company has agreed to indemnify each officer and director of the Company against
certain claims that may arise in their roles as officers and directors of the Company.
|
The above descriptions are qualified in their entirety by reference to the full text of the applicable agreement, each of which is incorporated by reference herein and attached hereto as Exhibits 1.1, 10.1, 4.1, 10.2,
10.3, 10.4 and 10.5, respectively.
Item 3.02 Unregistered Sales of Equity Securities.
Simultaneously with the consummation of the IPO and the issuance and sale of the Units, the Company consummated the private placement of 4,553,333 Private Placement Warrants at a price of $1.00 per Private Placement
Warrant, generating gross proceeds of $6,830,000 (the “Private Placement”). The Private Placement Warrants, which were purchased by the Sponsor, are identical to the Public Warrants, except that, if held by the Sponsor or its permitted transferees,
they (i) are not subject to being called for redemption under certain redemption scenarios (except in certain redemption scenarios when the price per share of Class A Common Stock equals or exceeds $10.00 (as adjusted)), (ii) subject to certain
limited exceptions, will be subject to transfer restrictions until 30 days following the consummation of the Company’s initial business combination, (iii) may be exercised for cash or on a cashless basis and (iv) will be entitled to registration
rights. If the Private Placement Warrants are held by holders other than the Sponsor or its permitted transferees, the Private Placement Warrants will be redeemable by the Company under all redemption scenarios and exercisable by holders on the same
basis as the Public Warrants. The Private Placement Warrants have been issued pursuant to, and are governed by, the Warrant Agreement.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 26, 2021, in connection with the IPO, Richard Kauffman, Tanuja Dehne, Dawn Lippert, Ron Lumbra and Jamie Weinstein (the “New Directors” and, collectively with David Crane, the “Directors”)
were appointed to the board of directors of the Company (the “Board”). Effective January 26, 2021, each of Mr. Kauffman, Ms. Dehne and Ms. Lippert was appointed to the Board’s Audit Committee and each of Mr. Kauffman, Ms. Dehne, Ms. Lippert and Mr.
Lumbra was appointed to the Board’s Compensation Committee and Nominating and Corporate Governance Committee, with Mr. Kauffman serving as chair of the Audit Committee, Ms. Lippert serving as chair of the Compensation Committee and Ms. Dehne serving
as chair of the Nominating and Corporate Governance Committee.
The members of the Sponsor that are affiliated with Pacific Investment Management Company LLC (the “PIMCO private funds”), collectively, and the member of the Sponsor that is majority owned by David
Crane, John Cavalier and Elizabeth Comstock (the “CRIS consortium”) each have the right to designate one director for nomination to the Board. Mr. Crane was appointed as the CRIS consortium’s initial designee and Mr. Weinstein was appointed as the
PIMCO private funds’ initial designee.
In January 2021, the Sponsor transferred 40,000 shares of the Company’s Class B common stock (the “Founder Shares”) to Mr. Kauffman, 25,000 Founder Shares to Ms. Dehne, 25,000 Founder Shares to Ms.
Lippert, 25,000 Founder Shares to Mr. Lumbra, 30,000 Founder Shares to Anne Frank-Shapiro and 12,000 Founder Shares to Daniel Gross.
The Company will reimburse its officers and directors for any out-of-pocket expenses related to identifying, investigating and completing an initial business combination.
The disclosure in Item 1.01 above is incorporated in this Item 5.02.
Other than the foregoing, none of the Directors is party to any arrangement or understanding with any person pursuant to which they were appointed as directors, nor is any Director party to any
transaction required to be disclosed under Item 404(a) of Regulation S-K involving the Company.
Item 5.03 Amendments to Certificate of Incorporation.
On January 26, 2021, the Company’s Amended and Restated Certificate of Incorporation became effective. The Amended and Restated Certificate of Incorporation is attached as Exhibit 3.1 hereto and the full text of such
exhibit is incorporated by reference herein.
Item 8.01 Other Events.
A total of $241,500,000 of the net proceeds from the IPO and the Private Placement (which includes the underwriters’ deferred discount of $8,452,500) was placed in a trust account, with Continental Stock Transfer &
Trust Company acting as trustee. Except with respect to interest earned on the funds held in the trust account that may be released to the Company to pay its franchise and income tax obligations, the funds held in the trust account will not be
released from the trust account until the earliest of: (1) the completion of the Company’s initial business combination; (2) the redemption of any public shares properly submitted in connection with a stockholder vote to amend the Company’s Amended
and Restated Certificate of Incorporation (A) to modify the substance or timing of the Company’s obligation to allow redemption in connection with the Company’s initial business combination or to redeem 100% of the Company’s public shares if the
Company not complete its initial business combination within 24 months from the closing of this offering or (B) with respect to any other provision relating to stockholders’ rights or pre-initial business combination activity; and (3) the redemption
of all of the Company’s public shares if the Company has not completed its initial business combination within 24 months from the closing of this offering, subject to applicable law.
Item 9.01. Financial Statements and Exhibits.
(d)
|
Exhibits.
|
Underwriting Agreement, dated January 26, 2021, between the Company and Barclays Capital Inc. and BofA Securities, Inc., as representatives of the several underwriters
|
|
Amended and Restated Certificate of Incorporation
|
|
Warrant Agreement, dated January 26, 2021, between Continental Stock Transfer & Trust Company and the Company
|
|
Warrant Purchase Agreement, dated January 26, 2021, between the Company and the Sponsor
|
|
Investment Management Trust Agreement, dated January 26, 2021, between Continental Stock Transfer & Trust Company and the Company
|
|
Registration and Stockholder Rights Agreement, dated January 26, 2021, among the Company, the Sponsor and the other Holders (as defined therein) signatory thereto
|
|
Letter Agreement, dated January 26, 2021, among the Company, the Sponsor each member of the Sponsor, each of the Company’s executive officers and directors and certain consultants of the Company
|
|
Form of Indemnification Agreement, dated January 26, 2021, between the Company and each of the officers and directors of the Company
|
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: January 29, 2021
CLIMATE CHANGE CRISIS REAL IMPACT I ACQUISITION CORPORATION
|
||
By:
|
/s/ John A. Cavalier
|
|
Name:
|
John A. Cavalier
|
|
Title:
|
Chief Financial Officer
|