Management Change/Compensation (Form 8-K)

On June 13, 2025, Harry L. You notified the board of directors (the "Board") of his resignation as Interim Chief Financial Officer of the Company, effective immediately. Mr. You's decision to resign as an officer was not the result of any disagreements with the Board or relating to the Company's operations, policies or practices, and he will continue his role as Executive Chairman of the Company.

On June 13, 2025, upon the recommendation and approval of the audit committee and compensation committee, the Board appointed Vikas Mittal as new Chief Financial Officer of the Company, effective immediately.

Mr. Mittal, age 45, has served as the Managing Member and Chief Investment Officer of Meteora Capital, LLC ("Meteora"), an alternative investment firm, since January 2022. He has nearly two decades of experience related to special purpose acquisition companies, and has served as Chief Executive Officer and Chief Financial Officer of Investcorp Europe Acquisition Corp. I ("Investcorp," Nasdaq: IVCB) since December 2024. He was previously a managing member of GSR II Meteora Sponsor LLC from October 2021 to June 2023, which was the Sponsor to GSR II Meteora Acquisition Corp., a SPAC which has since consummated its business combination. Prior to founding Meteora, Mr. Mittal was an investment professional and member of Glazer Capital, LLC, an investment management firm, from 2005 through the end of 2021. Over his 20 years on the buy-side as a principal investor, he has deployed capital across a range of event-driven investment strategies. Before transitioning to the buy-side, Mr. Mittal was part of the founding team that launched Raymond James' TMT investment banking practice in Palo Alto, California, beginning in 2002. Mr. Mittal earned a B.S. in Finance, summa cum laude, from the University of Florida and an MBA from NYU Stern School of Business. He is also a CFA charterholder. We believe that Mr. Mittal is qualified to serve as Chief Financial Officer due to his financial and accounting expertise, extensive professional investment background, and multi-decade experience with special purpose acquisition companies.

In connection with this appointment, on June 13, 2025, the Company entered into a Chief Financial Officer Services Agreement with Meteora (the "CFO Services Agreement"), pursuant to which, among other things, the Company will pay a quarterly fee of $37,500 to Meteora as consideration for Meteora making Mr. Mittal available to serve as Chief Financial Officer of the Company. Additionally, on June 13, 2025, the Company and Mr. Mittal entered into an Indemnity Agreement (the "Indemnity Agreement") and an Omnibus Joinder to the Letter Agreement and Registration Rights Agreement with the Company (the "Omnibus Joinder"), on substantially the same terms as the Indemnity Agreements, Letter Agreement and Registration Rights Agreement entered into by the directors and officers of the Company and the other signatories thereto at the consummation of the Company's initial public offering. The foregoing descriptions of the Indemnity Agreement, the CFO Services Agreement, and the Omnibus Joinder do not purport to be complete and are qualified in their entireties by reference to the form of Indemnity Agreement, the CFO Services Agreement, and the Omnibus Joinder, copies of which are attached as exhibit 10.6 to the Company's Registration Statement on Form S-1 (File No. 333-286023), initially filed with the Securities and Exchange Commission on March 21, 2025, as amended, and exhibits 10.1 and 10.2 hereto, respectively, and are incorporated herein by reference. Other than the foregoing, Mr. Mittal is not a party to any other arrangement or understanding with any person pursuant to which he was appointed as an officer, nor is he a party to any other transactions required to be disclosed under Item 404(A) of Regulation S-K involving the Company. There are no family relationships between Mr. Mittal and any of the Company's directors and executive officers.