UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
(Exact Name of Registrant as Specified in Charter)
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| of Incorporation) | Identification No.) |
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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Securities registered pursuant to section 12(b) of the Act:
| Title of Each Class | Trading Symbol(s) |
Name of each exchange on which registered | ||
| The Stock Market LLC | ||||
| The Stock Market LLC | ||||
| The Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth
company
If an emerging growth company, indicate
by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act.
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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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: January 7, 2022
| VICKERS VANTAGE CORP. I | |||
| By: | /s/ Jeffrey Chi | ||
| Name: | Jeffrey Chi | ||
| Title: | Chief Executive Officer | ||
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