お知らせ • May 05
Evo Acquisition Corp. Announces Intent to Liquidate Evo Acquisition Corp. announced that it intends to liquidate as soon as practicable on or after May 8, 2023 and to return funds to holders of its shares of Class A common stock. In view of the previously announced termination of Evo’s Business Combination Agreement with 20Cube Logistics Pte. Ltd. and certain other parties, the Board of Directors of Evo has determined not to further extend the deadline date in which Evo is required to consummate a business combination beyond the current expiration date, May 8, 2023. After satisfying its liabilities for expenses and working capital loans, Evo expects to redeem all of its outstanding shares of Class A common stock for an estimated redemption price of approximately $10.12 per share (the “Redemption Amount”) after the payment of taxes and dissolution expenses. On or about the close of business on May 9, 2023, the Class A common stock will be deemed canceled and will represent only the right to receive the Redemption Amount. The Redemption Amount will be payable to the holders of Class A common stock through the facilities of Continental Stock Transfer & Trust Company, Evo’s transfer agent. Evo expects that The Nasdaq Stock Market LLC will file a Form 25 with the Securities and Exchange Commission to delist its securities and to terminate the registration of Evo’s securities pursuant to Section 12(b) of the Securities Exchange Act of 1934, as amended. Evo thereafter expects to file a Form 15 to terminate its reporting obligations. Board Change • Dec 10
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. CEO & Director Richard Chisholm is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. お知らせ • Oct 20
20Cube Logistics Pte Ltd entered into a definitive business combination agreement to acquire Evo Acquisition Corp. (NasdaqCM:EVOJ) for $260 million in a reverse merger transaction. 20Cube Logistics Pte Ltd entered into a definitive business combination agreement to acquire Evo Acquisition Corp. (NasdaqCM:EVOJ) for $260 million in a reverse merger transaction on October 18, 2022. Under the terms of the transaction, assuming no redemptions by Evo’s public shareholders and assuming that all 20Cube shareholders elect to participate in the business combination as sellers, it is estimated that the current shareholders of 20Cube will own approximately 59% of the issued and outstanding shares in the combined company at closing. Following the consummation of the transaction, the combined company will report in the United States as a foreign private issuer. The parent company following the consummation of the business combination will be a new Singapore holding company (the “Combined Company” or “Pubco”) to be called 20Cube Logistics Solutions Ltd., and will be led by Mahesh Niruttan, Founder and Chief Executive Officer of 20Cube. Combined company's ordinary shares are expected to be listed on the Nasdaq Capital Market under the ticker symbol “TCUB”. The transaction is subject to the approval of Evo and 20Cube shareholders and other customary conditions. The transaction has been approved by each of Evo’s and 20Cube’s Board of Directors. The transaction is expected to close in the first quarter of 2023. Drake Star Partners acted as financial advisor and Foley & Lardner LLP acted as legal advisor to 20Cube. B. Riley Securities acted as financial advisor and Ellenoff Grossman & Schole LLP acted as legal advisor to Evo. お知らせ • May 19
Evo Acquisition Corp. Appoints Jason Sausto as Managing Director On May 15, 2022, the board of directors of Evo Acquisition Corp. appointed Jason Sausto as Managing Director of the Company, effective May 15, 2022. Since May, 2021, Mr. Sausto has served as a Managing Director of Evolution Capital Management LLC. お知らせ • Apr 07
Evo Acquisition Corp. announced that it expects to receive $1.5 million in funding from Evo Sponsor Llc Evo Acquisition Corp. announced that it has issued a promissory note for gross proceeds of $1,500,000 on April 6, 2022. The transaction will include participation from Evo Sponsor Llc. The note bears no interest and is due and payable on the date on which the Company consummates its initial business combination. At the election of the investor, all or a portion of the unpaid principal amount of the note may be converted into warrants at a price of $1.00 per warrant. The conversion warrants would be identical to the warrants issued by the company to the investor in a private placement in connection with the company’s initial public offering. お知らせ • May 18
Evo Acquisition Corp. announced delayed 10-Q filing On 05/17/2021, Evo Acquisition Corp. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.