Item 5.07 Submission of Matters to a Vote of Security Holders.
Special Meeting
On March 10, 2023, Stratim Cloud Acquisition Corp. (the “Company”)
held a special meeting (the “Special Meeting”), at which holders of 24,446,641 shares of the Company’s common stock,
comprised of 18,221,641 shares of Class A common stock, par value $0.0001 per share (“Class A Common Stock”), and 6,225,000
shares of Class B common stock, par value $0.0001 per share (“Class B Common Stock”), were present in person or by proxy,
representing approximately 78.2% of the voting power of the 31,250,000 issued and outstanding shares of common stock of the Company, comprised
of 25,000,000 shares of Class A Common Stock and 6,250,000 shares of Class B Common Stock, entitled to vote at the Special Meeting at
the close of business on February 8, 2023, which was the record date (the “Record Date”) for the Special Meeting. Stockholders
of record as of the close of business on the Record Date are referred to herein as “Stockholders”. In connection with the
Extension Amendment and the Redemption Limitation Amendment (each, as defined below), a total of 169 Stockholders have elected to redeem
an aggregate of 18,744,981 shares of Class A Common Stock, representing approximately 75.0% of the issued and outstanding shares of Class
A Common Stock. A summary of the voting results at the Special Meeting for each of the proposals is set forth below.
Proposal 1
The Stockholders approved the proposal to amend the Company’s
Amended and Restated Certificate of Incorporation (the “Certificate of Incorporation”) to extend the date by which the Company
must either (i) consummate a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business
combination, involving the Company and one or more businesses (an “initial Business Combination”), or (ii) cease all operations
except for the purpose of winding up if it fails to complete such initial Business Combination, and redeem all of the shares of Class
A Common Stock, from March 16, 2023, to September 16, 2023, or such earlier date as determined by the Board of Directors of the Company
(the “Extension Amendment” and, such proposal, the “Extension Proposal”). The voting results for such proposal
were as follows:
For |
|
Against |
|
Abstain |
|
Broker Non-Votes |
24,422,177 |
|
24,464 |
|
0 |
|
0 |
Proposal 2
The Stockholders approved the proposal to amend the Certificate of
Incorporation to eliminate from the Certificate of Incorporation the limitation that the Company may not redeem shares of Class A Common
Stock to the extent that such redemption would result in the Company having net tangible assets (as determined in accordance with Rule
3a51-1(g)(1) of the Securities Exchange Act of 1934, as amended) of less than $5,000,001 (the “Redemption Limitation”) in
order to allow the Company to redeem shares of Class A Common Stock irrespective of whether such redemption would exceed the Redemption
Limitation (the “Redemption Limitation Amendment” and, such proposal, the “Redemption Limitation Amendment Proposal”).
The voting results for such proposal were as follows:
For |
|
Against |
|
Abstain |
|
Broker Non-Votes |
24,422,177 |
|
24,464 |
|
0 |
|
0 |
On March 10, 2023, to effectuate the Extension Amendment and the Redemption
Limitation Amendment, the Company filed with the Secretary of State of the State of Delaware the Certificate of Amendment to the Amended
and Restated Certificate of Incorporation of the Company (the “Charter Amendment”). The foregoing description of the Charter
Amendment does not purport to be complete and is qualified in its entirety by the terms of the Charter Amendment, a copy of which is attached
hereto as Exhibit 3.1 and incorporated herein by reference.
Proposal 3
The proposal to adjourn the Special
Meeting to a later date or dates, if necessary, to permit further solicitation and vote of proxies in the event that there were
insufficient votes for, or otherwise in connection with, the Extension Proposal or the Redemption Limitation Amendment Proposal,
was not presented at the Special Meeting, since the Extension Proposal and
the Redemption Limitation Amendment Proposal each received a sufficient number of votes for
approval.
Forward Looking Statements
This Current Report on Form 8-K
contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, that involve risks, uncertainties, and assumptions that are difficult to predict. All statements
other than statements of historical fact contained in this Current Report on Form 8-K, including statements regarding future events, our
future financial performance, business strategy, and plans and objectives of management for future operations, are forward-looking statements.
The Company has attempted to identify forward-looking statements by terminology including “anticipates,” “believes,”
“can,” “continue,” “could,” “estimates,” “expects,” “intends,”
“may,” “plans,” “potential,” “predicts,” or “should,” or the negative of these
terms or other comparable terminology. The forward-looking statements made herein are based on the Company’s current expectations.
Actual results could differ materially from those described or implied by such forward-looking statements as a result of various important
factors, including, without limitation, its limited operating history, competitive factors in the Company’s and Force Pressure Control,
LLC’s (“Force Pressure”) industry and market, and other general economic conditions. The forward-looking statements
made herein are based on the Company’s current expectations, assumptions, and projections, which could be incorrect. The forward-looking
statements made herein speak only as of the date of this Current Report on Form 8-K and the Company undertakes no obligation to update
publicly such forward-looking statements to reflect subsequent events or circumstances, except as otherwise required by law.
Additional Information and
Where to Find It
If a definitive agreement is
entered into in connection with the proposed transaction between the Company and Force Pressure, the Company will prepare a proxy statement
(the “Proxy Statement”) to be filed with the U.S. Securities and Exchange Commission (the “SEC”) and mailed to
its stockholders. The Company urges its investors and other interested persons to read, when available, the Proxy Statement, as well as
other documents filed with the SEC, because these documents will contain important information about the proposed transaction. The Proxy
Statement, once available, can be obtained, without charge, at the SEC’s website (http://www.sec.gov).
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 any business
combination. This Current Report on Form 8-K shall also not constitute an offer to sell or the solicitation of an offer to buy any securities,
nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by
means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Participants in the Solicitation
The Company and certain of its
respective directors and executive officers may be deemed to be participants in the solicitation of proxies, in favor of the approval
of the proposed transaction between the Company and Force Pressure and related matters. Information regarding the Company’s directors
and executive officers is contained in the section of the Company’s Form S-1 titled “Management”, which went effective
with the SEC on March 11, 2021. Additional information regarding the interests of those participants and other persons who may be deemed
participants in the proposed transaction may be obtained by reading the Proxy Statement and other relevant documents filed with the SEC
when they become available.