Item 1.01 Entry into a Material Definitive Agreement.

On February 14, 2023, Stratim Cloud Acquisition Corp. (the "Company") entered into a letter of intent (the "Letter of Intent") with Force Pressure Control, LLC, a Texas limited liability company and a provider of surface pressure control solutions in the oilfield services market ("Force") and each of the individuals listed on the signature page of the Letter of Intent, pursuant to which the Company will acquire 100% of the outstanding equity interests of Force (the "Transaction"). Consummation of the Transaction shall be subject to the execution of a mutually satisfactory definitive agreement by the Company and Force (the "Definitive Agreement").

Pursuant to the Letter of Intent, the parties have entered into a period of exclusivity in order to negotiate the Company's acquisition of Force wherein, among other things, the Company agreed not to solicit, negotiate, conduct or commit to conduct any Competing Transaction (as defined in the Letter of Intent).

The foregoing description of the Letter of Intent does not purport to be complete and is qualified in its entirety by the full text of the letter, which is filed as Exhibit 10.1 hereto and incorporated herein by reference.




Item 8.01 Other Events.

On February 14, 2023, the Company issued a press release announcing its intention to acquire Force. The press release, which is furnished in this report as Exhibit 99.1, shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section.

Forward Looking Statements

This Current Report on Form 8-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve risks, uncertainties, and assumptions that are difficult to predict. All statements other than statements of historical fact contained in this Current Report on Form 8-K, including statements regarding future events, our future financial performance, business strategy, and plans and objectives of management for future operations, are forward-looking statements. The Company has attempted to identify forward-looking statements by terminology including "anticipates," "believes," "can," "continue," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," or "should," or the negative of these terms or other comparable terminology. The forward-looking statements made herein are based on the Company's current expectations. Actual results could differ materially from those described or implied by such forward-looking statements as a result of various important factors, including, without limitation, its limited operating history, competitive factors in the Company's and Force's industry and market, and other general economic conditions. The forward-looking statements made herein are based on the Company's current expectations, assumptions, and projections, which could be incorrect. The forward-looking statements made herein speak only as of the date of this Current Report on Form 8-K and the Company undertakes no obligation to update publicly such forward-looking statements to reflect subsequent events or circumstances, except as otherwise required by law.





                                       1

Additional Information and Where to Find It

If the Definitive Agreement is entered into in connection with the proposed Transaction, the Company will prepare a proxy statement (the "Proxy Statement") to be filed with the United States Securities and Exchange Commission (the "SEC") and mailed to its stockholders. The Company urges its investors and other interested persons to read, when available, the Proxy Statement, as well as other documents filed with the SEC, because these documents will contain important information about the proposed Transaction. The Proxy Statement, once available, can be obtained, without charge, at the SEC's website (http://www.sec.gov).





No Offer or Solicitation

This Current Report on Form 8-K shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of any business combination. This Current Report on Form 8-K shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Participants in the Solicitation

The Company and certain of its respective directors and executive officers may be deemed to be participants in the solicitation of proxies, in favor of the approval of the proposed Transaction related matters. Information regarding the Company's directors and executive officers is contained in the section of the Company's Form S-1 titled "Management", which went effective with the SEC on March 11, 2021. Additional information regarding the interests of those participants and other persons who may be deemed participants in the Transaction may be obtained by reading the Proxy Statement and other relevant documents filed with the SEC when they become available.

Item 9.01 Financial Statements and Exhibits.





(d) Exhibits.



Exhibit No.                                 Description

10.01           Letter Agreement, dated as of February 14, 2023
99.1            Press Release, dated February 14, 2023, announcing Stratim's
              intention to acquire Force Pressure Control, LLC
104           Cover Page Interactive Data File (embedded within the Inline XBRL
              document)




                                       2

© Edgar Online, source Glimpses