Item 5.07 Submission of Matters to a Vote of Security Holders.
As previously disclosed in the Current Report on Form 8-K filed with the
Securities and Exchange Commission (the "SEC") by 10X Capital Venture
Acquisition Corp, a Delaware corporation (the "Company" or "10X Capital"), on
February 3, 2021, the Company announced that it entered into an Agreement and
Plan of Merger, dated as of February 3, 2021 (the "Merger Agreement"), by and
among REE Automotive Ltd., a company organized under the laws of Israel ("REE"),
Spark Merger Sub Inc., a Delaware corporation and a direct, wholly-owned
subsidiary of REE ("Merger Sub"), and 10X Capital, which provides for, among
other things, the merger of Merger Sub with and into 10X Capital, with 10X
Capital surviving as a wholly-owned subsidiary of REE, and with the
securityholders of 10X Capital becoming securityholders of REE (the Merger and
the other transactions contemplated by the Merger Agreement, the "Merger").
On July 21, 2021, 10X Capital held a special meeting of stockholders (the
"Special Meeting") via remote communication to vote on the following proposals:
(1) a proposal to adopt the Agreement and Plan of Merger and approve the Merger
(the "Merger Proposal"); (2) a proposal to amend 10X Capital's amended and
restated certificate of incorporation (the "Existing 10X Capital Charter") by
adopting the second amended and restated certificate of incorporation (the
"Proposed 10X Capital Charter"), which will provide that, immediately prior to
the consummation of the Merger, all shares of 10X Capital Class B Common Stock
will automatically convert into shares of 10X Capital Class A Common Stock with
an amended conversion ratio adjustment (the "Class B Charter Proposal"), (3) a
proposal to approve the material differences between the Existing 10X Capital
Charter and REE's articles of association to be in effect following the Merger
(the "Amended and Restated Articles") (the "Material Differences Charter
Proposal"), and (4) a proposal to adjourn the Special Meeting to a later date or
dates, if necessary, to permit further solicitation and vote of proxies if,
based upon the tabulated vote at the time of the Special Meeting, 10X Capital is
not authorized to consummate the Merger (the "Adjournment Proposal").
The Adjournment Proposal was not presented at the Special Meeting because there
were enough votes to approve each of the other proposals at the Special Meeting.
Set forth below are the final voting results for each of the matters submitted
to a vote of the stockholders of 10X Capital at the Special Meeting.
The Merger Proposal. A proposal to adopt the Agreement and Plan of Merger and
approve the Merger:
For Against Abstain Broker Non-Votes
12,936,970 400,410 418 0
The Class B Charter Proposal. A proposal to amend the Existing 10X Capital
Charter by adopting the Proposed 10X Capital Charter, which will provide that,
immediately prior to the consummation of the Merger, all shares of 10X Capital
Class B Common Stock will automatically convert into shares of 10X Capital Class
A Common Stock with an amended conversion ratio adjustment:
For Against Abstain Broker Non-Votes
12,928,978 402,182 6,638 0
The Material Differences Charter Proposal. A proposal to approve the material
differences between the Existing 10X Capital Charter and the Amended and
Restated Articles:
For Against Abstain Broker Non-Votes
12,932,011 401,945 3,842 0
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