M&A
confidence high
sentiment neutral
materiality 0.35
8i Acquisition 2 amends SPA with EUDA Health; adds dual-signature condition on bank account disbursements
EUDA Health Holdings Ltd
- Third Amendment to Share Purchase Agreement requires two signatures for any post-closing bank account disbursement; one must be sponsor-nominated independent director.
- Condition to closing: Purchaser must add sponsor-nominated person as authorized signatory to the Purchaser Bank Account (CitiBank, account 12867700).
- Post-closing covenant: Until Jan 2, 2024, the company cannot change signatories or reduce number from two without sponsor consent.
- Amendment executed on Sept 7, 2022, among EUDA Health, Watermark Developments, 8i Acquisition 2, and indemnified representative.