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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Form 8-K

 

Current Report

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): November 10, 2022

 

8i Acquisition 2 Corp.

(Exact Name of Registrant as Specified in its Charter)

 

British Virgin Islands   001-40678   n/a

(State or other jurisdiction

of  incorporation)

  (Commission
File Number)

 

 

(I.R.S. Employer Identification No.)

 

c/o 6 Eu Tong Seng Street

#08-13 Singapore 059817

(Address of Principal Executive Offices and Zip Code)

 

Registrant’s telephone number, including area code: +65-6788 0388

 

 

(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

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act

 

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

 

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

 

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 consisting of one Ordinary Share, no par value, one Redeemable Warrant to acquire one-half (1/2) of one Ordinary Share, and one Right to acquire one-tenth of an Ordinary Share   LAXXU   NASDAQ Stock Market LLC
         
Ordinary Shares included as part of the Units   LAX   NASDAQ Stock Market LLC
         
Redeemable Warrants included as part of the Units   LAXXW   NASDAQ Stock Market LLC
         
Rights included as part of the Units   LAXXR   NASDAQ Stock Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

 

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 5.07. Submissions of Matters to a Vote of Security Holders.

 

As previously reported, on April 11, 2022, 8i Acquisition 2 Corp., a British Virgin Islands business company (the “Company” or “LAX”), entered into a Share Purchase Agreement (the “SPA”) with Euda Health Limited, a British Virgin Islands business company (“EUDA Health”), Watermark Developments Limited, a British Virgin Islands business company (the “Seller”) and Kwong Yeow Liew, acting as Representative of the Indemnified Parties (the “Indemnified Party Representative”). Pursuant to the terms of the SPA, as amended, a business combination between LAX and EUDA Health will be effected through the purchase by LAX of all of the issued and outstanding shares of EUDA Health from the Seller (the “Business Combination”).

 

On November 10, 2022, at 10:00 a.m., Eastern time, the Company held a special meeting of its shareholders of record (the “Special Meeting”), at which the Company’s shareholders of record voted on the proposals set forth below, each of which is described in detail in the proxy statement filed with the Securities and Exchange Commission (the “SEC”) on October 13, 2022, which was first mailed by the Company to its shareholders on or about October 17, 2022.

 

As of October 10, 2022, the record date for the Special Meeting, there were 11,073,500 ordinary shares, no par value, of the Company (the “Ordinary Shares”) issued and outstanding and entitled to vote at the Special Meeting. A total of 9,369,395 Ordinary Shares, representing approximately 84.61% of the issued and outstanding Ordinary Shares, were present in person by virtual attendance or represented by proxy at the Special Meeting, constituting a quorum for the Special Meeting. The final voting results for each proposal submitted to the shareholders of record of the Company at the Special Meeting are included below.

 

Each of the proposals described below was approved by the Company’s shareholders of record.

 

PROPOSAL 1:

 

To approve the transactions contemplated under the SPA.

 

For   Against   Abstain   Broker Non-Votes 
 8,314,452    1,030,751    24,192    0 

 

PROPOSAL 2:

 

To approve and adopt the following amendments and restatements of 8i amended and restated memorandum and articles of association:

 

a) to amend the name of the combined company from “8i Acquisition 2 Corp.” to “EUDA Health Holdings Limited”; and

 

For   Against   Abstain   Broker Non-Votes 
 8,335,895    1,030,751    2,755    0 

 

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b) to adopt the amended and restated memorandum and articles of association of the combined company (the “Amended and Restated Memorandum and Articles of Association”).

 

For   Against   Abstain   Broker Non-Votes 
 8,335,895    1,030,751    2,755    0 

 

PROPOSAL 3:

 

To approve, for purposes of complying with applicable listing rules of the Nasdaq Global Market (“Nasdaq”), the issuance of more than 20% of the issued and outstanding Ordinary Shares and the resulting change in control in connection with the Business Combination.

 

For   Against   Abstain   Broker Non-Votes 
 8,335,895    1,030,751    2,755    0 

 

PROPOSAL 4:

 

To vote to elect five directors effective upon consummation of the Business Combination.

 

Each of the director nominees received the following votes:

 

Director Nominee  Class  For   Withhold 
Wei Wen Kelvin Chen  I   8,436,565    932,836 
Thien Su Gerald Lim  I   8,436,565    932,836 
David Francis Capes  I   8,436,565    932,836 
Alfred Lim  II   8,436,565    932,836 
Kim Hing Chan  II   8,436,565    932,836 

 

Redemption of Ordinary Shares

 

As of November 8, 2022, the end of the redemption period for the Ordinary Shares issued as part of the units in the Company’s initial public offering consummated on November 24, 2021, an aggregate of 8,195,770 Ordinary Shares were tendered for redemption in connection with the Special Meeting. The final redemption price is $10.0837 per share redeemed.

 

Item 8.01 Other Events

 

On November 10, 2022, 8i issued a press release announcing that shareholders that elected to redeem shares in connection with Special Meeting may withdraw such redemption requests by no later than 5:00 p.m. Eastern Time on November 11, 2022. A copy of the press release is attached as Exhibit 99.1.

 

Item 9.01 Exhibits

 

Exhibit
No.

 

Description

   
99.1   Press Release dated November 10, 2022.
104   Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 3 
   

 

SIGNATURES

 

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: November 10, 2022  
   
8i Acquisition 2 Corp.  
     
By: /s/ Meng Dong (James) Tan  
Name: Meng Dong (James) Tan  
Title: Chief Executive Officer  

 

 4 

 

 

 

Exhibit 99.1

 

8i Acquisition 2 Corp. Announces Approval of Business Combination and Ability of Shareholders to Withdraw Ordinary Shares Tendered for Redemption

 

Singapore, November 10, 2022 /PRNewswire/ — 8i Acquisition 2 Corp. (NASDAQ: LAX, the “Company”), a special purpose acquisition company, announced today that all proposals presented to shareholders at the special meeting of shareholders held on November 10, 2022 at 10:00 a.m. Eastern Time relating to the Company’s business combination with EUDA Health Limited were approved by shareholders. Holders of Company’s ordinary shares that elected to redeem shares in connection with the Company’s special meeting of shareholders may withdraw such redemption requests by no later than 5:00 p.m. Eastern Time on November 11, 2022. Based on a total of 8,195,770 ordinary shares tendered for redemption in connection the special meeting of shareholders as of 5 p.m. on November 8, 2022, the final redemption price is $10.0837 per share redeemed.

 

About 8i Acquisition 2 Corp.

 

8i Acquisition 2 Corp. is a British Virgin Islands company incorporated in January 2021 as a blank check company for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. LAX’s efforts to identify a prospective target business will not be limited to a particular industry or geographic region, although LAX intends to focus on targets located in Asia.

 

Forward-Looking Statements

 

This press release includes forward-looking statements that involve risks and uncertainties. Forward looking statements are statements that are not historical facts. Such forward-looking statements, including the successful consummation of the Company’s initial public offering, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

 

For investor and media inquiries, please contact:

 


Gateway Group

IR: Cody Slach or Matthew Hausch
PR: Zach Kadletz or Catherine Adcock
Phone: (949) 574-3860
E-mail : LAX@gatewayir.com