Exhibit 10.8
SPONSOR SUPPORT AGREEMENT
THIS SPONSOR SUPPORT AGREEMENT, dated as of April 25, 2023 (this “Agreement”), by and among Europe Acquisition Holdings Limited, a Cayman Islands exempted company (“Sponsor”), Investcorp Europe Acquisition Corp I, a Cayman Islands exempted company incorporated with limited liability (“SPAC”), certain of the SPAC Shareholders whose names appear on the signature pages of this Agreement (such SPAC Shareholders and Sponsor, collectively, the “Sponsor Members”) and OpSec Holdings, a Cayman Islands exempted company incorporated with limited liability (“Pubco”).
WHEREAS, Pubco, SPAC, Opal Merger Sub I, a Cayman Islands exempted company incorporated with limited liability and wholly-owned Subsidiary of Pubco, Opal Merger Sub II, a Cayman Islands exempted company incorporated with limited liability and wholly-owned Subsidiary of Pubco, Orca Holdings Limited, a Cayman Islands exempted company incorporated with limited liability (the “Company”), Orca Midco Limited, a private limited company incorporated under the Laws of England and Wales having its registered office at 40 Phoenix Road, Washington, Tyne & Wear, United Kingdom, NE38 0AD, Orca Bidco Limited, a private limited company incorporated under the laws of England and Wales and a Subsidiary of the Company, Investcorp Technology Secondary Fund 2018, L.P., a Cayman Islands exempted limited partnership (“ITSF”), Mill Reef Capital Fund SCS, a limited partnership (société en commandite simple) organized under the laws of Luxembourg (“Mill Reef”, and together with ITSF, the “Company Shareholders”), propose to enter into, concurrently herewith, a business combination agreement (the “Business Combination Agreement”; capitalized terms used but not defined in this Agreement shall have the meanings ascribed to such terms in the Business Combination Agreement), which provides for, among other things, a business combination between SPAC and the Company;
WHEREAS, as of the date hereof, each Sponsor Member owns of record the number of SPAC Ordinary Shares as set forth opposite such Sponsor Member’s name on Exhibit A hereto (all such SPAC Ordinary Shares and any SPAC Ordinary Shares of which ownership of record or the power to vote is hereafter acquired by the Sponsor Members prior to the termination of this Agreement, including upon the exercise of warrants, options or rights, the conversion or exchange of any SPAC Ordinary Shares or convertible or exchangeable securities or by means of purchase, dividend, distribution or otherwise, being collectively referred to herein as the “Shares”);
WHEREAS, certain Sponsor Members agree to surrender for nil consideration and cancel, in aggregate, 2,555,100 Shares held by such Sponsor Members (in the allocations set forth on Exhibit A hereto) (the “Share Cancellation”); and
WHEREAS, in order to induce Pubco to enter into the Business Combination Agreement, the Sponsor Members, Pubco and SPAC desire to enter into this Agreement.