Item 8.01 Other Events
As previously disclosed, EdtechX Holdings Acquisition
Corp. II (“Parent”) has called a special meeting of stockholders to consider and vote upon a proposal to amend Parent’s
amended and restated certificate of incorporation (the “Extension Amendment”) to extend the date by which Parent has to consummate
an initial business combination (the “Extension”) from June 15, 2022 to December 15, 2022 (the “Extended Date”).
IBIS Capital Sponsor II LLC and IBIS Sponsor II
EdtechX LLC, limited liability companies affiliated with certain of Parent’s officers and directors (collectively, the “sponsors”),
have agreed that if the Extension Amendment is approved, they or their affiliates will lend to Parent for every month of the Extension
that is needed to consummate a business combination the lesser of an aggregate of (i) $100,000 and (ii) $0.033 per share for
each public share that is not converted in connection with the stockholder vote to approve the Extension (such loans being referred to
herein as the “Contributions”). Each Contribution will be deposited in the trust account established in connection with the
Company’s initial public offering on or prior to the 15th day of each month during the Extension with the first
Contribution being deposited on or prior to June 15, 2022.
The funds in the trust account, including any Contributions,
will be invested in treasury bills at prevailing interest rates. Parent anticipates investing such funds following the meeting in 3-month
treasury bills, currently yielding 1.03% as of May 25, 2022, in order to capture the recent and anticipated upcoming changes in treasury
bills yield.
Additional Information and Where to Find It
As previously announced, on May 16, 2022,
Parent entered into an Agreement and Plan of Reorganization (“Merger Agreement”) by and among Parent, EXHAC Merger Sub I,
Inc., a Delaware corporation and a wholly owned subsidiary of Parent (“Merger Sub I”), EXHAC Merger Sub II, LLC,
a Delaware limited liability company and a wholly owned subsidiary of Parent (“Merger Sub II”), and zSpace Inc., a Delaware
corporation (the “Company”). Pursuant to the Merger Agreement, the parties will enter into a business combination transaction
by which (i) Merger Sub I will merge with and into the Company, with the Company being the surviving entity of the merger, and,
after giving effect to such merger, continuing as a wholly owned subsidiary of Parent (the “First Merger”) and (ii) following
the First Merger, the Company will merge with and into Merger Sub II (the “Second Merger”) with Merger Sub II being
the surviving company of the Second Merger.
Parent intends to file a registration
statement on Form S-4 with the SEC (“Registration Statement”), which will include a document that serves as a prospectus
and proxy statement of Parent, referred to as a proxy statement/prospectus, and certain related documents, to be used at the meeting of
Parent’s stockholders to approve the proposed business combination and related matters. Investors and securityholders of
Parent are urged to read the Registration Statement, the proxy statement/prospectus, and any amendments thereto, and all other relevant
documents filed or that will be filed with the SEC in connection with the proposed transaction as they become available because they will
contain important information about Parent, the Company, and the proposed transaction. The definitive proxy statement/prospectus
will be mailed to Parent’s stockholders as of a record date to be established for voting on the proposed business combination and
related matters. Investors and securityholders will be able to obtain free copies of the Registration Statement, the proxy statement/prospectus
and all other relevant documents filed or that will be filed with the SEC by Parent, once such documents are filed, through the website
maintained by the SEC at www.sec.gov.
The documents filed by Parent
with the SEC also may be obtained free of charge upon written request to Parent at 22 Soho Square, London, W1D 4NS, United Kingdom.
Participants in Solicitation
Parent, the Company, and certain
of their respective directors and executive officers, under SEC rules, may be deemed to be participants in the eventual solicitation of
proxies from Parent’s stockholders in connection with the proposed transaction. A list of the names of such directors and executive
officers and information regarding their interests in the proposed business combination will be contained in the proxy statement/prospectus
when available. You may obtain free copies of these documents as described in the preceding paragraphs.
No Offer or Solicitation
This Current Report on Form
8-K shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed
transaction. This Current Report on Form 8-K also shall not constitute an offer to sell or the solicitation of an offer to buy any securities,
nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful
prior to registration or qualification under the securities laws of such other jurisdiction. No offering of securities shall be made except
by means of a prospectus meeting the requirements of Section 10 of the Securities Act.
Forward-Looking Statements
Certain statements included
in this Current Report on Form 8-K are not historical facts but are forward-looking statements for purposes of the safe harbor provisions
under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words
such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,”
“intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,”
“seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate
future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement
is not forward-looking. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts
of other financial and performance metrics and projections of market opportunity.
These statements are based
on various assumptions, whether or not identified in this Current Report on Form 8-K, and on the current expectations of Parent’s
and the Company’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative
purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction
or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ
from assumptions. Many actual events and circumstances are beyond the control of Parent and the Company. Some important factors that could
cause actual results to differ materially from those in any forward-looking statements could include changes in domestic and foreign business,
market, financial, political and legal conditions. Further, these forward-looking statements are subject to a number of risks and uncertainties,
including: the conditions to the completion of the Merger, including the required approval by Parent’s stockholders, may not be
satisfied on the terms expected or on the anticipated schedule; the parties’ ability to meet expectations regarding the timing and
completion of the Merger; the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger
Agreement; the approval by Parent’s stockholders of an amendment to Parent’s organizational documents to extend the date by
which Parent must complete its initial business combination in order to have adequate time to close the proposed transaction; the outcome
of any legal proceedings that may be instituted against Parent related to the Merger or the Merger Agreement; the amount of the costs,
fees, expenses and other charges related to the Merger; the risk that any required regulatory approvals are not obtained, are delayed
or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the proposed business
combination; the ability to maintain the listing of Parent’s securities on a national securities exchange; the price of Parent’s
securities may be volatile due to a variety of factors, including changes in the highly competitive industries in which Parent plans to
operate or the Company operates, variations in operating performance across competitors, changes in laws and regulations affecting Parent’s
or the Company’s business and changes in the combined capital structure; failure to realize the anticipated benefits of the proposed
business combination; the ability to implement business plans, forecasts, and other expectations after the completion of the proposed
transaction, and identify and realize additional opportunities; risks relating to the uncertainty of the projected financial information
with respect to the Company; the Company’s ability to successfully expand its service offerings; risks that the proposed transaction
disrupts current plans and operations of the Company and potential difficulties in Company employee retention as a result of the proposed
transaction; competition; the uncertain effects of the COVID-19 pandemic; and those factors discussed in the Registration Statement,
proxy statement/prospectus, and other documents filed, or to be filed, by Parent with SEC. If any of these risks materialize or Parent’s
or the Company’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking
statements. There may be additional risks that neither Parent nor the Company presently know or that Parent and the Company currently
believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements.
These filings identify and
address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in
the forward-looking statements. Forward-looking statements reflect Parent’s and the Company’s expectations, plans or forecasts
of future events and views only as of the date they are made. Parent and the Company anticipate that subsequent events and developments
will cause Parent’s and the Company’s assessments to change. Parent and the Company may elect to update these forward-looking
statements at some point in the future, Parent and the Company assume no obligation and do not intend to update or revise these forward-looking
statements, whether as a result of new information, future events, or otherwise. These forward-looking statements should not be relied
upon as representing Parent’s and the Company’s assessments as of any date subsequent to the date of this Current Report on
Form 8-K. Neither Parent nor the Company gives any assurance that either Parent or the Company or the combined company will achieve its
expectations. Accordingly, undue reliance should not be placed upon the forward-looking statements.
Any financial projections
in this Current Report on Form 8-K are forward-looking statements that are based on assumptions that are inherently subject to significant
uncertainties and contingencies, many of which are beyond Parent’s and the Company’s control. While all projections are necessarily
speculative, Parent and the Company believe that the preparation of prospective financial information involves increasingly higher levels
of uncertainty the further out the projection extends from the date of preparation. The assumptions and estimates underlying the projected
results are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties
that could cause actual results to differ materially from those contained in the projections. The inclusion of projections in this Current
Report on Form 8-K should not be regarded as an indication that Parent and the Company, or their respective representatives and advisors,
considered or consider the projections to be a reliable prediction of future events.
This Current Report on Form
8-K is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment
in Parent or the Company and is not intended to form the basis of an investment decision in Parent or the Company. All subsequent written
and oral forward-looking statements concerning Parent and the Company, the proposed business combination or other matters and attributable
to Parent, the Company, or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above.
