Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant
The information relating to the Note included in Item 8.01 is incorporated by
reference in this item to the extent required herein.
Item 8.01 Other Events.
On December 20, 2021, Vickers Venture Fund VI Pte Ltd and Vickers Venture Fund
VI (Plan) Pte Ltd (the "Sponsors"), each a Singapore company affiliated with
certain of officers and directors of Vickers Vantage Corp. I (the "Company"),
loaned the Company an aggregate of $500,000 for working capital purposes (the
"December 2021 Loans").
On January 6, 2022, the Sponsors deposited an aggregate of $1,035,000 into the
trust account established in connection with the Company's initial public
offering (the "January 2022 Deposit"). The January 2022 Deposit was required to
provide the Company an additional three months to consummate an initial business
combination pursuant to the Company's Amended and Restated Memorandum and
Articles of Association. The January 2022 Deposit was made in the form of a
non-interest bearing loan.
The December 2021 Loans and the January 2022 Deposit were evidenced by
promissory notes (collectively, the "Notes"). If the Company completes an
initial business combination, the Company will, at the option of the Sponsors,
repay the amounts evidenced by the Notes or convert a portion or all of the
total amount into warrants at a price of $0.75 per warrant, which warrants will
be identical to the private warrants issued simultaneously with the Company's
initial public offering. If the Company does not complete a business
combination, it will repay such amounts only from funds held outside of the
trust account.
The Company now has until April 11, 2022 to consummate an initial business
combination. If the Company is unable to complete a business combination by such
date (and the Company does not extend such date by an additional three months as
provided for in the Company's Amended and Restated Memorandum and Articles of
Association), it will then liquidate. The issuance of the Notes was exempt
pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended.
The foregoing summary of the Notes is qualified in its entirety by reference to
the text of the Notes, the form of which is filed as an exhibit hereto and
incorporated by reference herein.
On January 7, 2022, the Company issued a press release announcing the extension
of time to consummate an initial business combination. A copy of the press
release is filed as exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits:
Exhibit Description
10.1 Form of Promissory Note
99.1 Press Release
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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