8-K

Date: December 7, 2020

FAR PEAK ACQUISITION CORPORATION

/s/ David W. Bonanno

David W. Bonanno

Chief Financial Officer and Secretary

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or Section 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 2, 2020

FAR PEAK ACQUISITION CORPORATION

(Exact name of registrant as specified in its charter)


Cayman Islands	001-39749	98-1563569
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(I.R.S. Employer Identification No.)

480 6th Ave #342

New York, New York

10011

(Address of principal executive offices)

(Zip Code)

(917) 737-1541

Registrant’s telephone number, including area code

Not Applicable

(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 (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 Class A Ordinary Share, $0.0001 par value, and one-third of one redeemable warrant	FPAC.U	The New York Stock Exchange
Class A Ordinary Shares included as part of the units	FPAC	The New York Stock Exchange
Redeemable warrants included as part of the units, each whole warrant exercisable for one Class A Ordinary Share at an exercise price of $11.50	FPAC.W	The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

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 December 2, 2020, the Registration Statement on Form S-1 (File No. 333-250129) (the “Registration Statement”) relating to the initial public offering (the “IPO”) of Far Peak Acquisition Corporation (the “Company”) was declared effective by the U.S. Securities and Exchange Commission. On December 7, 2020, the Company consummated the IPO of 55,000,000 units (the “Units”), which does not include the exercise of the underwriter’s option to purchase an additional 8,250,000 Units at the initial public offering price to cover over-allotments. Each Unit consists of one Class A ordinary share, $0.0001 par value per share (the “Class A Ordinary Shares”), and one-third of one redeemable whole warrant (the “Public Warrants”), each whole Public Warrant entitling the holder thereof to purchase one Class A Ordinary Share at an exercise price of $11.50 per share, subject to adjustment. The Units were sold at an offering price of $10.00 per Unit, generating gross proceeds of $550,000,000. Further, in connection with the IPO, the Company entered into the following agreements, forms of which were previously filed as exhibits to the Registration Statement:

•

an Underwriting Agreement, dated December 2, 2020, among the Company and Wells Fargo Securities, LLC, which contains customary representations and warranties and indemnification of the underwriters by the Company;

•

a Warrant Agreement, dated December 2, 2020, between the Company and Continental Stock Transfer & Trust Company, as warrant agent (the “Warrant Agreement”), which sets forth the expiration and exercise price of and procedure for exercising the Warrants (as defined below); certain adjustment features of the terms of exercise; provisions relating to redemption and cashless exercise of the Warrants; certain registration rights of the holders of Warrants; provision for amendments to the Warrant Agreement; and indemnification of the warrant agent by the Company under the agreement;

•

an Investment Management Trust Agreement, dated December 2, 2020, between the Company and Continental Stock Transfer & Trust Company, as trustee, which establishes the trust account that will hold the net proceeds of the IPO and certain of the proceeds of the sale of the Private Placement Warrants, and sets forth the responsibilities of the trustee; the procedures for withdrawal and direction of funds from the trust account; and indemnification of the trustee by the Company under the agreement;

•

a Registration Rights Agreement, dated December 2, 2020, among the Company, Far Peak LLC (the “Sponsor”) and certain equityholders of the Company, which provides for customary demand and piggy-back registration rights for the Sponsor, and customary piggy-back registration rights for such other equityholders, as well as certain transfer restrictions applicable to the Sponsor with respect to the Company’s securities; and

•

a Letter Agreement, dated December 2, 2020, among the Company, the Sponsor and each executive officer and director of the Company, pursuant to which the Sponsor and each executive officer and director of the Company has agreed to vote any Class A Ordinary Shares held by him, her or it in favor of the Company’s initial business combination; the Sponsor has committed to provide funding up to certain amounts if the Company requires working capital; to facilitate the liquidation and winding up of the Company if an initial business combination is not consummated within 24 months (or 27 months as applicable); to certain transfer restrictions with respect to the Company’s securities; to certain indemnification obligations of the Sponsor; and the Company has agreed not to enter into a definitive agreement regarding an initial business combination without the prior consent of the Sponsor.

The above descriptions are qualified in their entirety by reference to the full text of the applicable agreement, each of which is incorporated by reference herein and filed herewith as Exhibits 1.1, 4.1, 10.1, 10.2 and 10.3, respectively. The company also entered into Indemnity Agreements, dated December 2, 2020, in the form previously filed as Exhibit 10.5 to the Registration Statement, between the Company and each executive officer and director of the Company, pursuant to which the Company agrees to provide adequate protection through insurance and adequate indemnification against inordinate risks of claims and actions against such executive officers and directors arising out of their service to and activities on behalf of the Company.

Item 3.02.

Unregistered Sales of Equity Securities.

Simultaneous with the consummation of the IPO and the issuance and sale of the Units, the Company consummated the private placement of 7,000,000 Private Placement Warrants at a price of $1.50 per Private Placement Warrant, generating total proceeds of $10,500,000 (the “Private Placement”) as reflected in subscription agreements previously filed as exhibits to the Registration Statement. The Private Placement Warrants, which were purchased by the Sponsor and certain funds and accounts managed by BlackRock, Inc. (the “Anchor Investor”), are substantially similar to the Public Warrants, except that if held by the

Sponsor, the Anchor Investor or their permitted transferees, they (i) may be exercised for cash or on a cashless basis, (ii) are not subject to being called for redemption (except in certain circumstances when the Public Warrants are called for redemption and a certain price per Class A Ordinary Share threshold is met) and (iii) subject to certain limited exceptions, will be subject to transfer restrictions until 30 days following the consummation of the Company’s initial business combination. If the Private Placement Warrants are held by holders other than the Sponsor, the Anchor Investor or their permitted transferees, the Private Placement Warrants will be redeemable by the Company in all redemption scenarios and exercisable by holders on the same basis as the Public Warrants. The Private Placement Warrants have been issued pursuant to, and are governed by the Warrant Agreement.

Item 5.03.

Amendments to Memorandum and Articles of Association.

On December 2, 2020 and in connection with the IPO, the Company adopted its Amended and Restated Memorandum and Articles of Association. The Amended and Restated Memorandum and Articles of Association is filed herewith as Exhibit 3.1 and is incorporated by reference herein.

Item 9.01.

Financial Statements and Exhibits.

(d)

Exhibits


1.1		Underwriting Agreement, dated December 2, 2020, between the Company and Wells Fargo, LLC, as representative of the several underwriters

3.1		Amended and Restated Memorandum and Articles of Association

4.1		Warrant Agreement, dated December 2, 2020, between Continental Stock Transfer & Trust Company and the Company

10.1		Investment Management Trust Account Agreement, dated December 2, 2020, between Continental Stock Transfer & Trust Company and the Company

10.2		Registration Rights Agreement, dated December 2, 2020, among the Company, the Sponsor and certain other equityholders named therein

10.3		Letter Agreement, dated December 2, 2020, among the Company, the Sponsor and the Company’s officers and directors

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.