secwatch.observer — SEC 8-K summary
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Issuer:     Technology & Telecommunication Acquisition Corp (TETEF)
CIK:        0001900679
Form:       8-K
Filed at:   2022-10-19T23:59:59+00:00
Accession:  0001493152-22-028867
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TETE SPAC to acquire Super Apps Holdings for $1.1B; earn-out based on quarterly revenue targets
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- Merger consideration of $1.1B: $235M paid at closing, $865M subject to earn-out over four quarters.
- Earn-out revenue target $87M per quarter; Contingent Shares formula based on achieved revenue.
- Post-closing board: five directors (two sponsor, three Super Apps designees); Loo See Yuen to be CEO.
- Conditions include $5M minimum transaction financing and Nasdaq listing approval; target Outside Date July 20, 2023.
- Six-month lock-up for Super Apps executives and certain shareholders; indemnification escrow of 10% of consideration.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1900679/000149315222028867/0001493152-22-028867-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1900679/000149315222028867/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-028867

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer