Form 8-K - Current report

Investcorp Europe Acquisition Corp I

Date: June 10, 2024

/s/ Craig Sinfield-Hain

Craig Sinfield-Hain

Chief Financial Officer

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): June 10, 2024 (June 6, 2024)

Investcorp Europe Acquisition Corp I

(Exact name of registrant as specified in its charter)

Cayman Islands

001-41161

N/A

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(I.R.S. Employer

Identification No.)


Century Yard, Cricket Square
Elgin Avenue
P.O. Box 1111, George Town
Grand Cayman, Cayman Islands		KY1-1102
(Address of principal executive offices)		(Zip Code)

+1 (345) 949-5122

(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 Securities Exchange Act of 1934:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Units, each consisting of one Class A ordinary share and one-half of one redeemable warrant	IVCBU	The Nasdaq Stock Market LLC
Class A ordinary shares, par value $0.0001 per share	IVCB	The Nasdaq Stock Market LLC
Redeemable warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50	IVCBW	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 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

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 2.03

Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

On June 6, 2024, Investcorp Europe Acquisition Corp I (the “Company”) entered into a non-interest bearing unsecured loan (the “Loan”) in the principal amount of up to $1,200,000 from the Company’s sponsor, Europe Acquisition Holdings Limited, an exempted company incorporated in the Cayman Islands, or an affiliate thereof (the “Sponsor”) to provide the Company with additional working capital until the earlier of a completion of a business combination or winding up of the Company. The Loan will not be deposited into the trust account.

The Loan bears no interest and shall be due and payable on the earlier of (i) the date on which the Company consummates the business combination or (ii) the date on which the winding up of the Company is effective. If the Company does not consummate an initial business combination by December 17, 2024, the Loan will be repaid only from funds held outside of the trust account or will be forfeited, eliminated or otherwise forgiven.

A copy of the Loan is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference. The disclosure as set forth in this Item 2.03 is intended to be a summary only and is qualified in its entirety by reference to the Loan.

Item 9.01

Financial Statements and Exhibits.

(d) Exhibits. The following exhibits are filed with this Form 8-K:


Exhibit No.		Description of Exhibits

10.1		Loan Agreement dated June 6, 2024

104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

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.

Exhibit 10.1

LOAN AGREEMENT

This Loan Agreement (this “Agreement”) is made on this day of June 6, 2024 (the “Effective Date”).

BETWEEN:

1.	Investcorp Europe Acquisition Corp I, an exempted company incorporated under the laws of the Cayman Islands with registration number 373300 (the “Borrower”);

2.	Investcorp Funding Limited, an exempt company incorporated under the laws of the Cayman Islands with registration number 25543 (the “Lender”).

WHEREAS:

The Borrower wishes to borrow money to fund working capital (“Working Capital”) until such time the Borrower consummates its initial business combination (the “Transaction”) or, if the Board of Directors of the Borrower determines that the Borrower will not be able to consummate the Transaction by December 17, 2024, the date on which the winding up of the Borrower is effective;

B.	The Lender has agreed to provide a loan to the Borrower to be used by the Borrower to fund Working Capital.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows with effect from the Effective Date:

1.	Recitals Integral

The recitals above shall form an integral part of this Agreement.

2.	Amount and Purpose of Loan

2.1	The Lender hereby agrees to lend to the Borrower a loan in a maximum aggregate amount of One Million and Two Hundred Thousand Dollars ($1,200,000.00) in lawful money of the United States of America (the “Loan”).

2.2	The Lender shall make the Loan available to the Borrower on the Effective Date of June 6, 2024. The Borrower may draw the Loan in one or more drawdowns upon prior written notice to the Lender. Funds for the Loan may be placed into a bank account for the Borrower.

2.3	Subject to the terms of this Agreement, the Lender will be obliged to fund the Loan in any amount which is required by the Borrower to fund the Working Capital and the Lender shall not be entitled to:

(i)

cancel any commitments under this Agreement to the extent to do so would prevent or limit the funding of the Working Capital;

(ii)

rescind, terminate or cancel this Agreement or the Loan or exercise any similar right or remedy or make or enforce any claim under this Agreement it may have to the extent to do so would prevent or limit the funding of the Working Capital;

(iii)

refuse to participate in any advance requested by the Borrower in accordance with this Agreement to fund the Working Capital;

(iv)

exercise any right of set-off or counterclaim in respect of the Loan to the extent to do so would prevent or limit the funding of the Working Capital; or

(v)

cancel, accelerate or cause repayment or prepayment of any amounts owing under this Agreement to the extent to do so would prevent or limit the funding of the Working Capital,

provided that immediately upon completion of the Transaction all such rights, remedies and entitlements shall be available to the Lender.

2.4	The Borrower shall use the Loan to fund the Working Capital.

3.	Interest on the Loan

No interest shall accrue on the unpaid balance of the Loan.

4.	Repayment of the Loan

4.1	The Borrower shall repay the principal amount of the Loan on the earlier of: (i) the date on which the Borrower consummates the Transaction or (ii) the date of that the winding up of the Borrower is effective (such date, the “Maturity Date”).

4.2	The Borrower may prepay the Loan, in whole or in part, at any time without penalty.

4.3	All payments made by the Borrower to the Lender under this Agreement shall be made in immediately available funds and shall be paid by transfer to such bank account of the Lender as the Lender shall notify to the Borrower in writing.

4.4	Under no circumstances shall any individual, including but not limited to any executive officer, director, employee or stockholder of the Borrower, be obligated personally for any obligations or liabilities of the Borrower hereunder.

5.	Statements Conclusive

The statement of the Lender as to any amount payable by the Borrower hereunder shall (in the absence of obvious error) be conclusive and binding on the parties hereto.

6.	Waiver; Amendments

No failure on the part of the Lender to exercise, or delay in exercising, any right shall operate as a waiver thereof, and no specific waiver shall be construed as a general waiver. Any amendment hereto or waiver of any provision hereof may be made with, and only with, the written consent of the Borrower and the Lender.

7.	Severability

If any provision hereof shall be illegal or unenforceable for any reason, the legality and enforceability of the remainder of the provisions hereof shall not be affected or impaired thereby.

8.	Entire Agreement

This Agreement constitutes the entire agreement between the parties to this Agreement in relation to the Loan, the Lender’s obligation to make or fund the Loan and the Borrower’s obligations in respect of the Loan, and supersedes any previous agreement, whether express or implied, regarding the Loan.

9.	Notices

All notices to be given under this Agreement shall be in writing and shall be served to the addresses stated below or to such other address as a party may subsequently designate in writing to the other parties. Alternatively, notices may be served by e-mail.

If to the Borrower, to:

Century Yard, Cricket Square

Elgin Avenue

P.O. Box 1111

George Town, Grand Cayman

Cayman Islands KY1-1102

If to the Lender, to:

c/o Investcorp Holdings B.S.C.

P.O. Box 5340

Manama

Bahrain

Attention: Mr. Abbas Rizvi

10.

Assignment

10.1	This Agreement shall benefit and be binding upon the parties hereto and their respective successors and permitted assigns or transferees. Any reference in this Agreement to any party shall be construed accordingly.

10.2	The Lender shall not, at any time prior to completion of the Transaction, assign, transfer or otherwise dispose of all or any of its rights or obligations under this Agreement without the prior written consent of the Borrower.

10.3	The Borrower shall not assign, transfer or otherwise dispose of all or any of its rights or obligations under this Agreement without the prior written consent of the Lender.

11.

Trust Waiver

Notwithstanding anything herein to the contrary, the Lender hereby waives any and all right, title, interest or claim of any kind (“Claim”) in or to any distribution of or from the Trust Account, and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the Trust Account for any reason whatsoever; provided however that upon the consummation of the Transaction, Borrower shall repay the principal balance of this Note out of the proceeds released to Borrower from the Trust Account.

12.

Governing Law and Jurisdiction

12.1 This Agreement shall be governed and construed in all respects in accordance with the laws of the Cayman Islands.

12.2	The Borrower hereby irrevocably submits to the non-exclusive jurisdiction of the Courts of the Cayman Islands, with the Lender reserving its rights to instigate legal proceedings in any other country where it may deem it relevant to do so in order to protect its interests.

SIGNED on behalf of the parties hereto on the day and year first above written.


Borrower /s/ Ruby McGregor-Smith				The Lender /s/ Dean Clinton

Investcorp Europe Acquisition Corp I				Investcorp Funding Limited
Name: Ruby McGregor-Smith				Name: Dean Clinton
Title: Chief Executive Officer				Title: Officer

Document and Entity Information	Jun. 06, 2024
Document And Entity Information [Line Items]
Entity Tax Identification Number	00-0000000
Amendment Flag	false
Entity Central Index Key	0001857410
Document Type	8-K
Document Period End Date	Jun. 06, 2024
Entity Registrant Name	Investcorp Europe Acquisition Corp I
Entity Incorporation State Country Code	E9
Entity File Number	001-41161
Entity Address, Address Line One	Century Yard, Cricket Square
Entity Address, Address Line Two	Elgin Avenue
Entity Address, Address Line Three	P.O. Box 1111
Entity Address, City or Town	George Town
Entity Address, Region	Grand Cayman
Entity Address, Country	KY
Entity Address, Postal Zip Code	KY1-1102
City Area Code	+1 (345)
Local Phone Number	949-5122
Written Communications	false
Soliciting Material	false
Pre Commencement Tender Offer	false
Pre Commencement Issuer Tender Offer	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Units Each Consisting Of One Class A Ordinary Share And One Half Of One Redeemable Warrant [Member]
Document And Entity Information [Line Items]
Security 12b Title	Units, each consisting of one Class A ordinary share and one-half of one redeemable warrant
Trading Symbol	IVCBU
Security Exchange Name	NASDAQ
Capital Unit, Class A [Member]
Document And Entity Information [Line Items]
Security 12b Title	Class A ordinary shares, par value $0.0001 per share
Trading Symbol	IVCB
Security Exchange Name	NASDAQ
Redeemable Warrants Each Whole Warrant Exercisable For One Class A Ordinary Share At An Exercise Price Of 11.50 [Member]
Document And Entity Information [Line Items]
Security 12b Title	Redeemable warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50
Trading Symbol	IVCBW
Security Exchange Name	NASDAQ