Item 2.01. Completion of Acquisition or Disposition of Assets.
As previously reported in a Current Report on Form 8-K that was filed with the
The Closing of the Share Exchange Agreement occurred on
In connection with the transaction, the Company entered into a lockup agreement pursuant to which the Company agreed, among other things, that they will not sell or transfer (subject to certain customary exceptions) any shares of the W Tech's Common Stock for a period of 12 months following the Closing, and also agreed not to (i) offer for sale, sell, pledge or otherwise dispose of (or enter into any transaction or device that is designed to, or could be expected to, result in the disposition by any person at any time in the future of) any shares of the W Tech's Common Stock; (ii) enter into any swap or other derivatives transaction that transfers to another, in whole or in part, any of the economic benefits or risks of ownership of shares of the W Tech's Common Stock, whether any such transaction is to be settled by delivery of shares of the W Tech's Common Stock or other securities, in case or otherwise; or (iii) publicly disclose the intention to do any of the foregoing actions.
Upon further review, the Company has determined that it does not need to include the financial statements of W Technologies or pro forma financial information.
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