425 1 tm2232359d1_8k.htm 425

 

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

 

WASHINGTON, DC 20549

 

 

 

FORM 8-K

 

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

 

Date of report (Date of earliest event reported): December 14, 2022 (December 9, 2022)

 

KINS TECHNOLOGY GROUP INC.

(Exact name of Registrant as Specified in Its Charter)

 

Delaware 001-39642 85-2104918

(State or Other Jurisdiction of

Incorporation or Organization)

(Commission
File Number)

(I.R.S. Employer
Identification No.)

 

Four Palo Alto Square, Suite 200

3000 El Camino Real

Palo Alto, California 94306

(Address of principal executive offices)

(Zip Code)

 

Registrant’s telephone number, including area code: (650) 575-4456

 

Not applicable

(Former name, former address and former fiscal year, 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 (see General Instruction A.2. below):

 

  x Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

  ¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

 

¨

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

  ¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

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

 

Title of each class  

Trading

Symbol(s)

 

Name of each exchange on which registered

Units, each consisting of one share of Class A common stock and one-half of one redeemable warrant   KINZU   The Nasdaq Stock Market LLC
Class A common stock, par value $0.0001 per share   KINZ   The Nasdaq Stock Market LLC
Redeemable warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50   KINZW   The Nasdaq Stock Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in 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 x

 

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 December 14, 2022, in connection with its special meeting of stockholders held on December 9, 2022 (the “Special Meeting”), KINS Technology Group Inc. (the “Company”) and Continental Stock Transfer & Trust Company (the “Trustee”) entered into Amendment No. 2 to the Investment Management Trust Agreement (the “Trust Amendment”), which amends the Investment Management Trust Agreement entered into by the Company and the Trustee on December 14, 2020, as amended by Amendment No. 1 to Investment Management Trust Agreement dated June 10, 2022 (the “Trust Agreement”), to extend the date on which the Trustee must liquidate the trust account established in connection with the Company’s initial public offering that was consummated on December 17, 2020 (the “IPO”) if the Company has not completed its initial business combination from December 16, 2022 to June 15, 2023. The foregoing description of the Trust Amendment does not purport to be complete and is qualified in its entirety by the terms and conditions of the Trust Amendment, a copy of which is attached hereto as Exhibit 10.1 and incorporated herein by reference.

 

Item 5.07 Submission of Matters to a Vote of Security Holders.

 

Special Meeting of Stockholders

 

On December 9, 2022, the Company held the Special Meeting, at which holders of 6,411,331 shares of common stock were present virtually or by proxy, representing 81.80% of the voting power of the 7,838,000 shares of the Company’s issued and outstanding shares of common stock entitled to vote at the Special Meeting at the close of business on November 23, 2022, which was the record date (the “Record Date”) for the Special Meeting (stockholders of record as of the close of business on the Record Date are referred to herein as “Stockholders”). A summary of the voting results at the Special Meeting for each of the proposals is set forth below.

 

Proposal 1

 

The Stockholders approved the proposal to amend the Company’s amended and restated certificate of incorporation to (A) extend the date by which the Company must (1) consummate a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination, (2) cease its operations except for the purpose of winding up if it fails to complete such initial business combination, and (3) redeem all of the shares of Class A common stock, par value $0.0001 per share, of the Company (“Class A Common Stock”), included as part of the units sold in the IPO, from December 16, 2022 to June 15, 2023, and (B) allow the Company to redeem shares of Class A Common Stock in connection with the amendment to the Charter to the extent that such redemption would result in the Company having net tangible assets of less than $5,000,001 (the “Charter Extension”). The voting results for such proposal were as follows:

 

For  Against  Abstain  Broker Non-Votes
6,386,251  25,080  0  N/A

 

On December 14, 2022, to effectuate the Charter Extension, the Company entered into and filed with the Secretary of State of the State of Delaware the Certificate of Amendment to the Amended and Restated Certificate of Incorporation of the Company, a copy of which is attached hereto as Exhibit 3.1 and incorporated herein by reference.

 

Proposal 2

 

The Stockholders approved the proposal to amend the Trust Agreement to extend the date on which the Trustee must liquidate the trust account established in connection with the IPO if the Company has not completed its initial business combination from December 16, 2022 to June 15, 2023 (the “Trust Extension”). The voting results for such proposal were as follows:

 

For  Against  Abstain  Broker Non-Votes
6,386,251  25,080  0  N/A

 

The information included in Item 1.01 is incorporated by reference in this item to the extent required herein.

 

  

 

 

Proposal 3

 

The Stockholders approved the proposal to adjourn the Special Meeting to a later date or dates, if necessary or appropriate, to permit further solicitation and vote of proxies if, based upon the tabulated vote at the time of the Special Meeting, there are not sufficient votes to approve the Charter Extension and/or the Trust Extension. The voting results for such proposal were as follows:

 

For  Against  Abstain  Broker Non-Votes
6,357,648  53,683  0  N/A

 

Item 8.01. Other Events.

 

On December 14, 2022, the Company issued a press release (the “Press Release”) announcing the results of the Special Meeting. The Press Release is attached to this Current Report as Exhibit 99.1 and incorporated by reference herein.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit
No.
  Description  
   
3.1   Certificate of Amendment to the Amended and Restated Certificate of Incorporation
   
10.1   Amendment No. 2 to Investment Management Trust Agreement, dated as of December 14, 2022, between the Company and Continental Stock Transfer & Trust Company, as trustee
     
99.1   Press Release, dated as of December 14, 2022
     
104   Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

  

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, KINS Technology Group Inc. has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  KINS Technology Group Inc.
   
  By: /s/ Khurram Sheikh
    Khurram Sheikh
    Chairman, Chief Executive Officer and Chief Financial Officer

 

Date: December 14, 2022