Item 5.07 Submission of Matters to a Vote of Security Holders.
Special Meeting
In connection with the transactions (collectively, the "Business Combination")
contemplated by that certain Agreement and Plan of Merger, dated
Proposal 1
The Stockholders approved the proposal to approve the Business Combination, including (a) adopting the Business Combination Agreement and (b) approving the other transactions contemplated by the Business Combination Agreement and related agreements described in the accompanying proxy statement/prospectus (the "Business Combination Proposal").
For Against Abstain 5,474,422 3,764 0 Proposal 2
The Stockholders approved the proposal to approve and adopt, assuming the Business Combination Proposal is approved, the amended and restated certificate of incorporation (the "Amended and Restated Certificate of Incorporation") of Chardan (the "Charter Proposal").
For Against Abstain 5,474,422 3,764 0 Proposal 3
The Stockholders, for purposes of complying with the applicable rules of Nasdaq,
approved the proposal to approve the issuance of shares of Chardan's common
stock in connection with the Business Combination, including, without
limitation, the Aggregate Merger Consideration, the Earnout Shares, the
For Against Abstain 5,469,462 8,724 0 Proposal 4
The Stockholders approved the proposal to approve and adopt, assuming the Business Combination Proposal, the Charter Proposal and the Nasdaq Proposal are approved, for purposes of complying with the applicable rules of the Nasdaq, the New Dragonfly 2022 Incentive Plan (the "Incentive Plan Proposal").
For Against Abstain 5,469,462 8,724 0 2 Proposal 5
The Stockholders approved the proposal to approve, assuming the Business Combination Proposal, the Charter Proposal, the Nasdaq Proposal and the Incentive Plan Proposal are approved, the New Dragonfly Employee Stock Purchase Plan (the "ESPP Proposal").
For Against Abstain 5,474,422 3,764 0 Proposal 6
The Stockholders approved the proposal to elect seven (7) directors who will serve as directors on the board of New Dragonfly until their successors are duly elected and qualified, subject to their earlier death, resignation, or removal (the "Director Election Proposal").
For Against Abstain 5,474,422 3,764 0 Proposal 7
The Stockholders approved the proposal to approve the adjournment of the Special Meeting to a later date or dates to permit further solicitation and vote of proxies in the event that there were insufficient votes for, or otherwise in connection with, the approval of the Business Combination Proposal, Charter Proposal Nasdaq Proposal, the Incentive Plan Proposal, the ESPP Proposal or the Director Election Proposal (the "Adjournment Proposal").
For Against Abstain 5,474,225 3,961 0 Forward-Looking Statements
This Current Report on Form 8-K contains certain "forward-looking statements"
within the meaning of the United States Private Securities Litigation Reform Act
of 1995, Section 27A of the Securities Act of 1933, as amended (the "Securities
Act") and Section 21E of the Securities Exchange Act of 1934, as amended,
including certain financial forecasts and projections. All statements other than
statements of historical fact contained in this Current Report on Form 8-K,
including statements as to the transactions contemplated by the business
combination and related agreements, future results of operations and financial
position, revenue and other metrics, planned products and services, business
strategy and plans, objectives of management for future operations of Dragonfly,
market size and growth opportunities, competitive position and technological and
market trends, are forward-looking statements. Some of these forward-looking
statements can be identified by the use of forward-looking words, including
"may," "should," "expect," "intend," "will," "estimate," "anticipate,"
"believe," "predict," "plan," "targets," "projects," "could,"
"would," "continue," "forecast" or the negatives of these terms or variations of
them or similar expressions. All forward-looking statements are subject to
risks, uncertainties, and other factors (some of which are beyond the control of
Dragonfly or CNTQ) which could cause actual results to differ materially from
those expressed or implied by such forward-looking statements. All
forward-looking statements are based upon estimates, forecasts and assumptions
that, while considered reasonable by CNTQ and its management, and Dragonfly and
its management, as the case may be, are inherently uncertain and many factors
may cause the actual results to differ materially from current expectations
which include, but are not limited to: 1) the occurrence of any event, change or
other circumstances that could give rise to the termination of the definitive
merger agreement with respect to the business combination; 2) the outcome of any
legal proceedings that may be instituted against Dragonfly, CNTQ, the combined
company or others following the announcement of the business combination and the
transactions contemplated thereby; 3) the inability to complete the business
combination due to the failure to satisfy other conditions to closing the
business combination; 4) changes to the proposed structure of the business
combination that may be required or appropriate as a result of applicable laws
or regulations or as a condition to obtaining regulatory approval of the
business combination; 5) the ability to meet Nasdaq's listing standards
following the consummation of the business combination; 6) the risk that the
business combination disrupts current plans and operations of Dragonfly as a
result of the announcement and consummation of the business combination; 7) the
inability to recognize the anticipated benefits of the business combination; 8)
ability of Dragonfly to successfully increase market penetration into its target
markets; 9) the addressable markets that Dragonfly intends to target do not grow
as expected; 10) the loss of any key executives; 11) the loss of any
relationships with key suppliers including suppliers in
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Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. Exhibit No. Description 99.1 Press Release, dated as ofOctober 6, 2022 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 4
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