Item 5.07. Submission of Matters to a Vote of Security Holders.
At the Extraordinary General Meeting (the "Extraordinary General Meeting") of
SCVX Corp. (the "Company"), which was held on January 25, 2022, holders of
22,051,704 of the Company's ordinary shares, which represents approximately 77%
of the ordinary shares issued and outstanding and entitled to vote as of the
record date of January 5, 2022, were represented in person or by proxy.
At the Extraordinary General Meeting, the shareholders approved a special
resolution (the "Extension Proposal") to extend the date, from January 28, 2022
to July 28, 2022, by which the Company must either (a) consummate a merger,
share exchange, asset acquisition, share purchase, reorganization or similar
business combination with one or more businesses or entities or (b) (i) cease
all operations except for the purpose of winding up; (ii) as promptly as
reasonably possible but not more than ten business days thereafter, redeem all
of the Company's Class A ordinary shares included as part of the units sold in
the Company's initial public offering that was consummated on January 28, 2020;
and (iii) as promptly as reasonably possible following such redemption, subject
to the approval of the Company's remaining members and the Company's board of
directors, liquidate and dissolve, subject in the case of (ii) and (iii), to its
obligations under Cayman Islands law to provide for claims of creditors and in
all cases subject to the other requirements of applicable law.
Approval of Proposal 1-Extension Proposal
Votes For Votes Against Abstentions Broker Non-Votes
20,842,175 1,209,502 27
N/A
In connection with the vote to approve the Extension Proposal, the holders of
19,207,987 Class A ordinary shares properly exercised their right to redeem
their shares for cash at a redemption price of approximately $10.02 per share,
for an aggregate redemption amount of approximately $192,552,554 million. As
such, approximately 84% of the Class A ordinary shares were redeemed and
approximately 16% of the Class A ordinary shares remain outstanding. After the
satisfaction of such redemptions, the balance in the Company's trust account
will be approximately $38,013,446 million.
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