8-K 1 nt10022907x12_8k.htm FORM 8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


FORM 8-K


CURRENT REPORT
Pursuant to Section 13 or Section 15(d)
of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 1, 2021


FOCUS IMPACT
ACQUISITION CORP.
(Exact name of registrant as specified in its charter)


Delaware
(State or other jurisdiction of incorporation
or organization)
  
001-40977
(Commission
File Number)
  
86-2433757
(I.R.S. Employer
Identification No.)
         
250 Park Avenue Ste 911
New York, NY
(Address of principal executive offices)
      
10177
(Zip Code)

(212) 213-0243
Registrant’s telephone number, including area code

Not Applicable
(Former name or former address, if changed since last report)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
     
Title of each class
Trading
Symbol(s)
Name of each exchange on
which registered
Units, each consisting of one share of Class A common stock, $0.0001 par value, and one-half of one redeemable warrant
FIACU
The Nasdaq Stock Market LLC
Shares of Class A common stock included as part of the units
FIAC
The Nasdaq Stock Market LLC
Redeemable warrants included as part of the units, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50
FIACW
The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01.
Entry into a Material Definitive Agreement.

On October 27, 2021, the Registration Statement on Form S-1 (File No. 333-255448) (the “Registration Statement”) relating to the initial public offering (the “IPO”) of Focus Impact Acquisition Corp. (the “Company”) was declared effective by the U.S. Securities and Exchange Commission. On November 1, 2021 the Company consummated the IPO of 23,000,000 units (the “Units”) which included the exercise of the underwriters’ option to purchase an additional 3,000,000 Units at the initial public offering price to cover over-allotments. Each Unit consists of one share of Class A common stock, $0.0001 par value per share (the “Class A Common Stock”), and one-half of one redeemable warrant (the “Public Warrants”), each whole Public Warrant entitling the holder thereof to purchase one share of Class A Common Stock at an exercise price of $11.50 per share, subject to adjustment. The Units were sold at an offering price of $10.00 per Unit, generating gross proceeds of $230,000,000. Further, in connection with the IPO, the Company entered into the following agreements, forms of which were previously filed as exhibits to the Registration Statement:


 •
an Underwriting Agreement, dated October 27, 2021, among the Company, Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC, as representatives of the underwriters named in Schedule I therein, which contains customary representations and warranties and indemnification of the underwriters by the Company;


•
a Private Placement Warrants Purchase Agreement, dated October 27, 2021, between the Company and Focus Impact Sponsor, LLC (the “Sponsor”), pursuant to which the Sponsor purchased 11,200,000 private placement warrants, each exercisable to purchase one share of Class A Common Stock at $11.50 per share, subject to adjustment, at a price of $1.00 per warrant (the “Private Placement Warrants” and, together with the Public Warrants, the “Warrants”);


•
a Warrant Agreement, dated November 1, 2021, between the Company and Continental Stock Transfer & Trust Company, as warrant agent (the “Warrant Agreement”), which sets forth the expiration and exercise price of and procedure for exercising the Warrants; certain adjustment features of the terms of exercise; provisions relating to redemption and cashless exercise of the Warrants; certain registration rights of the holders of Warrants; provision for amendments to the Warrant Agreement; and indemnification of the warrant agent by the Company under the agreement;


•
an Investment Management Trust Agreement, dated November 1, 2021, between the Company and Continental Stock Transfer & Trust Company, as trustee, which establishes the trust account that will hold the net proceeds of the IPO and certain of the proceeds of the sale of the Private Placement Warrants, and sets forth the responsibilities of the trustee; the procedures for withdrawal and direction of funds from the trust account; and indemnification of the trustee by the Company under the agreement;


•
a Registration and Stockholder Rights Agreement, dated November 1, 2021, among the Company, the Sponsor and certain equityholders of the Company, which provides for customary demand and piggy-back registration rights for the Sponsor and such other equityholders, and, upon and following consummation of the Company’s initial business combination, the right of the Sponsor to nominate three individuals for election to the Company’s board of directors;


•
a Letter Agreement, dated November 1, 2021, among the Company, the Sponsor and each executive officer and director of the Company, pursuant to which the Sponsor and each executive officer and director of the Company has agreed to vote any shares of Class A Common Stock held by him, her or it in favor of the Company’s initial business combination; to facilitate the liquidation and winding up of the Company if an initial business combination is not consummated within 18 months; to certain transfer restrictions with respect to the Company’s securities; to certain indemnification obligations of the Sponsor; and the Company has agreed not to enter into a definitive agreement regarding an initial business combination without the prior consent of the Sponsor;


•
an Administrative Services Agreement, dated October 27, 2021, between the Company and the Sponsor, pursuant to which the Sponsor has agreed to make available office space, secretarial and administrative services, as may be required by the Company from time to time, for up to $10,000 per month until the earlier of the Company’s initial business combination or liquidation; and

The above descriptions are qualified in their entirety by reference to the full text of the applicable agreement, each of which is incorporated by reference herein and filed herewith as Exhibits 1.1, 10.1, 4.1, 10.2, 10.3, 10.4 and 10.5, respectively.

Item 3.02.
Unregistered Sales of Equity Securities.

On November 1, 2021 and in connection with the IPO, the Company consummated the private placement of 11,200,000 Private Placement Warrants at a price of $1.00 per Private Placement Warrant, generating total proceeds of $11,200,000 (the “Private Placement”). The Private Placement Warrants, which were purchased by the Sponsor, are substantially similar to the Public Warrants, except that if held by the Sponsor or its permitted transferees, they (i) may be exercised for cash or on a cashless basis, (ii) are not subject to being called for redemption (except in certain circumstances when the Public Warrants are called for redemption and a certain price per Class A Common Stock threshold is met) and (iii) subject to certain limited exceptions, will be subject to transfer restrictions until 30 days following the consummation of the Company’s initial business combination. If the Private Placement Warrants are held by holders other than the Sponsor or its permitted transferees, the Private Placement Warrants will be redeemable by the Company in all redemption scenarios and exercisable by holders on the same basis as the Public Warrants. The Private Placement Warrants have been issued pursuant to, and are governed by the Warrant Agreement.

Item 5.03.
Amendments to Certificate of Incorporation.

On October 27, 2021 and in connection with the IPO, the Company adopted its Amended and Restated Certificate of Incorporation. The Amended and Restated Certificate of Incorporation is filed herewith as Exhibit 3.1 and is incorporated by reference herein.

Item 9.01.
Financial Statements and Exhibits.

(d) Exhibits

 
Underwriting Agreement among the Company, Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC
     
 
Amended and Restated Certificate of Incorporation
     
 
Warrant Agreement between Continental Stock Transfer & Trust Company and the Company
     
 
Private Placement Warrants Purchase Agreement between the Company and the Sponsor
     
 
Investment Management Trust Account Agreement between Continental Stock Transfer & Trust Company and the Company
     
 
Registration and Stockholder Rights Agreement among the Company, the Sponsor and certain other equityholders named therein
     
 
Letter Agreement among the Company, the Sponsor and the Company’s officers and directors
     
 
Administrative Services Agreement between the Company and the Sponsor

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: November 1, 2021

 
FOCUS IMPACT ACQUISITION CORP.
     
 
By:
/s/Carl Stanton
 
Name:
Carl Stanton
 
Title:
Chief Executive Officer