(e) During the last five years, none of the Reporting Persons has been party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgement, decree, or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
Item 3. Source and Amount of Funds or Other Consideration.
Business Combination and Vieco 10 Distribution
On December 29, 2021, the Issuer reincorporated as a Delaware corporation and consummated the acquisition of Vieco USA, Inc. (“Vieco USA”) (the “Business Combination”) pursuant to that certain Agreement and Plan of Merger (the “Merger Agreement”), dated as of August 22, 2021, by and among NextGen Acquisition Corp. II (“NextGen”), Pulsar Merger Sub, Inc. (“Merger Sub”), and Vieco USA, whereby Merger Sub merged with and into Vieco USA, with Vieco USA as the surviving company and, after giving effect to the merger, becoming a wholly-owned subsidiary of NextGen. As consideration for the acquisition of Vieco USA, the Issuer issued 301,981,419 shares (the “Merger Shares”) of Common Stock to Vieco 10 Limited (“V10”). Following the consummation of the Business Combination, V10 transferred all of the Merger Shares to Fifteenth and VIL pursuant to the terms of the Liquidation Agreement, as amended by the Assignment Agreement (each as defined below), effective as of December 30, 2021.
Vieco 10 Transfer
On July 2, 2021, V10, VIL, and Aabar Space Inc. (“ASI”), a wholly-owned subsidiary of Mubadala and an affiliate of Fifteenth, entered into that certain Transaction Support and Liquidation Agreement (the “Liquidation Agreement”), under which V10 agreed to, upon the closing of the Business Combination, among other things: (i) transfer a portion of the Merger Shares to ASI and VIL in full repayment of the outstanding amounts of principal and interest owed to ASI and VIL, respectively, pursuant to the terms of that certain Note Purchase Agreement, dated July 30, 2020, by and among V10, VIL, and ASI (the “Debt Repayment”); and (ii) after the Debt Repayment, distribute the remaining Merger Shares to VIL and ASI on a pro rata basis for no consideration (the “Distribution”, and together with the Debt Repayment, the “Vieco 10 Transfer”).
On December 29, 2021, ASI, Fifteenth, V10, and VIL entered into that certain assignment and assumption to the Liquidation Agreement (the “Assignment Agreement”), pursuant to which ASI assigned, for no consideration, its rights and obligations under the Liquidation Agreement to Fifteenth, such that any shares of the Issuer’s Common Stock due to ASI under the Vieco 10 Transfer were to be transferred directly to Fifteenth. Accordingly, effective as of December 30, 2021, V10 transferred a total of 58,175,111 Merger Shares to Fifteenth, comprised of 4,707,018 Merger Shares in the Debt Repayment and 53,468,093 Merger Shares in the Distribution.
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