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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION  

Washington, D.C. 20549

 

Form 8-K

 

Current Report  

 

Pursuant to Section 13 or 15(d) of the  

Securities Exchange Act of 1934

 

May 20, 2022

Date of Report (Date of earliest event reported)

 

Nubia Brand International Corp.

(Exact Name of Registrant as Specified in its Charter)

 

Delaware   001-41323   87-1993879
(State or other jurisdiction
of incorporation)
  (Commission File Number)   (I.R.S. Employer
Identification No.)

 

13355 Noel Rd, Suite 1100

Dallas, TX

  75240
(Address of Principal Executive Offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (972) 918-5120

 

N/A 

(Former name or former address, if changed since last report)

 

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:

 

Written communications pursuant to Rule 425 under the Securities Act

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol   Name of each exchange on which registered
Units, each consisting of one share of Common Stock and one-half of one Redeemable Warrant   NUBIU   The Nasdaq Capital Market LLC
Common Stock, par value $0.0001 per share   NUBI   The Nasdaq Capital Market LLC
Redeemable Warrants, each whole warrant exercisable for one share of Common Stock at an exercise price of $11.50   NUBIW   The Nasdaq Capital 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 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

 

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 1.01. Entry into a Material Definitive Agreement.

 

On May 20, 2022, Nubia Brand International Corp. (the “Company”) entered into an amended and restated promissory note (the “Amended Note”) pursuant to which the Company amended and restated its outstanding promissory note issued to the Company’s sponsor, Mach FM Acquisitions LLC, on July 27, 2021, in the aggregate principal amount of $300,000 (the “Original Note”).

 

Pursuant to the Amended Note, the Company amended the Original Note by (i) extending the original maturity date from the date on which the Company consummated its initial public offering (the “IPO”) to a new maturity date which shall be upon the closing of a Repayment/Conversion Trigger Event, as such term is defined below, and (ii) by permitting the holder of the Amended Note, in its sole discretion, to convert any or all of the unpaid principal under the Amended Note into warrants, at a price of $1.00 per warrant, upon consummation of the Company’s initial business combination. “Repayment/Conversion Trigger Event” means:

 

(i)the closing of a merger, consolidation or other business combination pursuant to which the Company acquires an entity for its initial business combination; or

 

  (ii) the liquidation of the Company on or before the date of the 12 month anniversary of the IPO (or up to the 18 month anniversary of the IPO if the Company extends the period of time to consummate a business combination), or such later liquidation date as may be approved by the Company’s stockholders, that occurs while the Amended Note is outstanding or any time thereafter prior to the repayment of the Amended Note.

 

The foregoing description is qualified in its entirety by reference to the Amended Note, a copy of which is attached as Exhibit 10.1 hereto and is incorporated herein by reference.

 

Item 9.01. Financial Statements and Exhibits.

 

Exhibit No.   Description
10.1   Amended and Restated Promissory Note to Mach FM Acquisitions LLC, dated May 20, 2022.
104   Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

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SIGNATURES

 

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: May 20, 2022 NUBIA BRAND INTERNATIONAL CORP.
     
  By: /s/ Jaymes Winters
  Name: Jaymes Winters
  Title: Chief Executive Officer

 

 

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