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

Date of report (Date of earliest event reported): July 28, 2021

 

 

Nebula Caravel Acquisition Corp.

(Exact Name of Registrant as Specified in Charter)

 

 

 

Delaware   001-39774   82-3147201

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification Number)

Four Embarcadero Center, Suite 2100

San Francisco, CA 94111

(Address of principal executive offices, including zip code)

(415) 780-9975

(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 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))

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) or Rule 12b-2 of the Securities Exchange Act of 1934 (§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.  ☐

 

Title of each class

  

Trading

Symbol(s)

  

Name of each exchange

on which registered

Common Stock, par value $0.0001

per share

   NEBC    The Nasdaq Stock Market LLC

Warrants to purchase one share of

Common Stock

   NEBCW    The Nasdaq Stock Market LLC

Units, each consisting of one share

of Common Stock and one fifth of

one Warrant

   NEBCU    The Nasdaq Stock Market LLC

 

 

 


Item 5.07.

Submission of Matters to a Vote of Security Holders.

On July 28, 2021, Nebula Caravel Acquisition Corp., a Delaware corporation (“Caravel”) held a special meeting of stockholders via remote communication (the “Special Meeting”) in connection with the proposed Business Combination Agreement and Plan of Merger (as amended, modified or supplemented in accordance with the terms thereof, the “Business Combination Agreement”), dated as of February 10, 2021, by and among Caravel, Fetch Merger Sub, Inc., a Delaware corporation and direct wholly-owned subsidiary of Caravel (“Merger Sub”), and A Place for Rover, Inc., a Delaware corporation (“Rover”), providing for, among other things, and subject to the terms and conditions therein, a business combination between Caravel and Rover as described in the prospectus/proxy statement/information statement filed by the Company with the Securities and Exchange Commission on July 9, 2021 (the “Proxy Statement”) pursuant to which, among other things, (i) Merger Sub will merge with and into Rover, the separate corporate existence of Merger Sub will cease and Rover will continue as the surviving corporation in the merger and a wholly-owned subsidiary of Caravel and (ii) Caravel will change its name to “Rover Group, Inc.” Capitalized terms used in this Current Report on Form 8-K but not otherwise defined herein have the meanings given to them in the Proxy Statement.

As of the close of business on July 8, 2021, the record date for the Special Meeting, there were 34,375,000 shares of the Company’s common stock, par value $0.001 per share, (“Common Stock”) outstanding and entitled to vote, of which the holders of 25,910,042 shares of Common Stock were present or represented by proxy at the Special Meeting, which number constituted a quorum.

At the Special Meeting, Caravel’s stockholders approved the Business Combination Proposal, the Governing Documents Proposal, the Governance Proposal, the Change in Authorized Shares Proposal, the Required Vote to Amend the Charter Proposal, the Nasdaq Proposal, the Incentive Plan Proposal, the ESPP Proposal, and the Director Election Plan Proposal (together, the “Proposals”), in each case as defined and described in greater detail in the Proxy Statement.

Set forth below are the final voting results for each of the matters submitted to a vote of the stockholders of the Company at the Special Meeting:

Proposal 1: The Business Combination Proposal.

A proposal to adopt the Business Combination Agreement and approve the transactions contemplated thereby.

 

Votes Cast For    Votes Cast Against    Abstentions
24,405,979    1,503,613    450

Proposal 2: The Governing Documents Proposal.

A proposal to approve and adopt the amended and restated certificate of incorporation of Caravel.

 

Votes Cast For    Votes Cast Against    Abstentions
24,403,689    1,505,571    782

Proposal 3: The Governance Proposal.

Proposals to vote on, on a non-binding advisory basis, certain governance provisions in the amended and restated certificate of incorporation presented separately in accordance with the United States Securities and Exchange Commission Requirements:

Proposal 3A: Change in Authorized Shares.

To approve an increase of Caravel’s total number of authorized shares of all classes of capital stock from 221,000,000 shares to 1,000,000,000 shares, which would consist of (i) increasing the authorized Class A Common Stock from 200,000,000 shares to 990,000,000 shares, (ii) increasing the authorized Preferred Stock from 1,000,000 shares to 10,000,000 shares and (iii) eliminating the Caravel Class B common stock.

 

2


Votes Cast For    Votes Cast Against    Abstentions
21,498,237    4,405,867    5,778

Proposal 3B: Required Vote to Amend the Charter.

To approve an amendment to the Charter providing that the approval of 66 2/3% of the total voting power of the then outstanding voting securities, voting together as a single class, is required to make any amendments to certain provisions of the New Rover Charter.

 

Votes Cast For    Votes Cast Against    Abstentions
21,509,174    4,395,071    5,777

Proposal 4: The Nasdaq Proposal.

A proposal to approve for purposes of complying with the applicable provisions of Nasdaq Rules 5635(a), (b), (c) and (d), the issuance of more than 20% of the issued and outstanding shares of Common Stock in connection with the transactions contemplated by the Business Combination Agreement, including the issuance of Class A Common Stock as Merger Consideration and the PIPE Investment, and the potential change of control in connection with the Business Combination.

 

Votes Cast For    Votes Cast Against    Abstentions
24,390,938    1,514,702    4,402

Proposal 5: The Incentive Plan Proposal.

A proposal to approve and adopt the 2021 Incentive Plan, including the authorization of the initial share reserve thereunder.

 

Votes Cast For    Votes Cast Against    Abstentions
24,129,001    1,776,455    4,585

Proposal 6: The ESPP Proposal.

A proposal to approve and adopt the New Rover 2021 Employee Stock Purchase Plan, including the authorization of the initial share reserve thereunder.

 

Votes Cast For    Votes Cast Against    Abstentions
24,138,189    1,765,115    6,737

Proposal 7: The Director Election Proposal.

A proposal to approve the election of each of eight (8) directors to serve staggered terms on the Board until immediately following the annual meeting of Caravel stockholders for the calendar year ended December 31, 2022 (Class I), 2023 (Class II) and 2024 (Class III), as applicable, and until their respective successors are duly elected and qualified or until their earlier resignation, removal or death.

 

3


To approve the election of Aaron Easterly to the Board as a Class I director:

 

Votes Cast For    Votes Cast Against    Abstentions
25,900,932    0    9,110

To approve the election of Venky Ganesan to the Board as a Class I director:

 

Votes Cast For    Votes Cast Against    Abstentions
25,980,487    0    19,555

To approve the election of Scott Jacobson to the Board as a Class II director:

 

Votes Cast For    Votes Cast Against    Abstentions
25,900,514    0    9,528

To approve the election of Greg Gottesman to the Board as a Class II director:

 

Votes Cast For    Votes Cast Against    Abstentions
24,154,507    0    1,755,535

To approve the election of Susan Athey to the Board as a Class II director:

 

Votes Cast For    Votes Cast Against    Abstentions
25,888,983    0    21,059

To approve the election of Kristina Leslie to the Board as a Class III director:

 

Votes Cast For    Votes Cast Against    Abstentions
25,890,833    0    19,209

To approve the election of Megan Siegler to the Board as a Class III director:

 

Votes Cast For    Votes Cast Against    Abstentions
25,890,883    0    19,159

To approve the election of Adam H. Clammer to the Board as a Class III director:

 

Votes Cast For    Votes Cast Against    Abstentions
25,171,244    0    738,798

 

Item 7.01.

Regulation FD Disclosure.

The information set forth below under this Item 7.01 is intended to be furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, except as expressly set forth by specific reference in such filing.

On July 28, 2021, the Company issued a press release announcing the approval of the Proposals related to the Business Combination at the Special Meeting. A copy of the press release is furnished herewith as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.

 

Item 9.01.

Financial Statements and Exhibits.

 

  (d)

Exhibits.

 

Exhibit
No.

  

Exhibit

99.1    Press release dated July 28, 2021

 

4


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: July 28, 2021

 

Nebula Caravel Acquisition Corp.
By:  

/s/ Rufina Adams

Name:   Rufina Adams
Title:   Chief Financial Officer

Exhibit 99.1

Nebula Caravel Acquisition Corp. Stockholders Approve Business Combination with Rover

 

   

The combined company’s common stock is expected to begin trading on the NASDAQ exchange under the ticker symbol “ROVR”

 

   

Rover to become the first publicly traded online marketplace for pet care

 

   

Transaction proceeds of approximately $240 million to support Rover’s growth strategies

San Francisco, CA—July 28, 2021 - Nebula Caravel Acquisition Corp. (“Caravel”) (NASDAQ: NEBC) today announced that its stockholders approved all proposals related to the previously announced business combination (the “Business Combination”) with A Place for Rover, Inc. (“Rover”) at a special meeting of stockholders held today.

Net transaction proceeds of approximately $240 million are expected to be added to Rover’s balance sheet to continue investment in marketing, product, and acceleration of international growth.

The closing of the Business Combination is anticipated to occur on or about July 30, 2021, subject to the satisfaction of customary closing conditions. Following closing, the combined holding company will change its legal name to Rover Group, Inc. and will continue to do business as Rover. Rover Group, Inc.’s common stock and warrants are expected to commence trading on Nasdaq under the ticker symbols “ROVR” and “ROVRW”, in August.

About Rover

Founded in 2011 and based in Seattle, Rover is the world’s largest online marketplace for pet care. Rover connects pet parents with pet providers who offer overnight services, including boarding and in-home pet sitting, as well as daytime services, including doggy daycare, dog walking, drop-in visits, and grooming.

About True Wind Capital

True Wind Capital is a San Francisco-based private equity firm focused on investing in leading technology companies. True Wind has a broad investing mandate, with deep industry expertise across software, data analytics, tech-enabled services, internet, financial technology, and hardware. Rover will be True Wind’s 8th platform investment.

About Nebula Caravel Acquisition Corp.

Nebula Caravel Acquisition Corp. (“Caravel”) is a blank check company sponsored by True Wind Capital, formed for the purpose of partnering with a high-quality technology business. Caravel is led by Adam H. Clammer and James H. Greene, Jr., who serve as Chief Executive Officer and Chairman, respectively. Caravel’s merger with Rover follows Nebula Acquisition Corporation’s successful merger with Open Lending (NASDAQ: LPRO) in June 2020.

Important Information and Where to Find It

This press release relates to the proposed merger involving Caravel and Rover. Caravel has filed a Registration Statement on Form S-4 with the SEC, which includes a proxy statement and prospectus of Caravel and an information statement of Rover, and each party may file other documents with the SEC regarding the proposed transaction. The documents filed by Caravel with the SEC may be obtained free of charge at the SEC’s website at www.sec.gov. Alternatively, these documents, when available, can be obtained free of charge from Caravel upon written request to Nebula Caravel Acquisition Corp., Four Embarcadero Center, Suite 2100, San Francisco, California 94111.


Forward Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 including with respect to the proposed business combination of Rover and Caravel. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this communication. Such factors can be found in Caravel’s most recent filings with the SEC, which are available, free of charge, at the SEC’s website at http://www.sec.gov, and also in the registration statement on Form S-4 and Caravel’s definitive proxy statement/prospectus relating to the Business Combination.

This press release is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment in Caravel and is not intended to form the basis of an investment decision in Caravel. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect us or the Business Combination with Rover. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, and Caravel and Rover undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, changes in expectations, future events or otherwise.

Rover

MEDIA

pr@rover.com

Kristin Sandberg

(360) 510-6365

INVESTORS

brinlea@blueshirtgroup.com

Brinlea Johnson

(415) 269-2645

True Wind Capital

heatherc@truewindcapital.com

Heather Chrisco