Grove Collaborative completes de-SPAC merger with VGAC II; PIPE raises $86.1M

Grove Collaborative Holdings, Inc.

Business combination closed June 16, 2022; former VGAC II renamed Grove Collaborative Holdings, Inc.
Exchange ratio ~1.17604; Grove stockholders received New Grove Class B common stock.
PIPE financing: 8.6M shares at $10/sh for $86.1M; $1M remaining to be collected.
Backstop investor (Corvina Holdings) provided $44.2M plus warrants for 3.9M shares at $0.01.
Post-closing: ~29.4M Class A and ~133.4M Class B shares outstanding; GROV and GROV.WS trade on NYSE.

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Executive movements

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Appointed

Fumbi Chima

director

GROV · Grove Collaborative Holdings, Inc.

Effective: 2022-06-16
Filed: June 23, 2022, 7:59 PM ET

On June 16, 2022, the Board elected Fumbi Chima as a director, effective immediately.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Fumbi Chima was elected as director at Grove Collaborative Holdings, Inc..

Action: elected
Role: director

Exact text from the filing

On June 16, 2022, the Board elected Fumbi Chima as a director, effective immediately.

View on SEC.gov

Grove Collaborative Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-22-180310

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