Item
1.01. Entry into a Material Definitive Agreement.
Merger Agreement
On April 15, 2021, D8 Holdings
Corp. (“D8 Holdings” or the “Company”), a Cayman Islands exempted company (which shall migrate to and domesticate
as a Delaware corporation prior to the Closing Date (as defined below)) entered into an agreement and plan of merger, by and among D8
Holdings, Snowball Merger Sub, Inc., a Delaware corporation and a direct, wholly-owned subsidiary of D8 Holdings (“Merger Sub”),
Vicarious Surgical Inc. (“Vicarious Surgical”), and Adam Sachs, in his capacity as the stockholder representative (the “Stockholder
Representative”) (as it may be amended and/or restated from time to time, the “Merger Agreement”).
The Merger
The Merger Agreement provides
that (a) Merger Sub will merge with and into Vicarious Surgical, with Vicarious Surgical being the surviving corporation of the merger.
The transactions contemplated by the Merger Agreement are referred to herein as the “Business Combination.” The time of the
closing of the Business Combination is referred to herein as the “Closing.” The date of the Closing is referred to herein
as the “Closing Date.”
The Domestication
At the end of the business
day immediately prior to the Closing, subject to the satisfaction or waiver of the conditions of the Merger Agreement, and prior to an
investment by the PIPE Investors (as defined below) the Company will migrate to and domesticate as a Delaware corporation in accordance
with Section 388 of the Delaware General Corporation Law, as amended, and the Cayman Islands Companies Act (As Revised) (the “Domestication”).
By virtue of the Domestication
and subject to the satisfaction or waiver of the conditions of the Merger Agreement, including approval of the Company’s shareholders:
(i) each of the then issued and outstanding Class B ordinary shares of the Company, par value $0.0001 per share (each, a “Company
Class B Share”), will convert automatically, on a one-for-one basis, into a Class A ordinary share of the Company, par value $0.0001
per share (each, a “Company Class A Share”); (ii) immediately following the conversion described in clause (i), each of the
then issued and outstanding Company Class A Shares will convert automatically, on a one-for-one basis, into a share of Class A common
stock, par value $0.0001 per share, of the Company (after the Domestication) (the “Domesticated Company Class A Stock”), each
of which will carry voting rights of one vote per share; (iii) each of the then issued and outstanding warrants to purchase one Company
Class A Share (“Cayman Company Warrant”) will automatically become a warrant to acquire one share of Domesticated Company
Class A Stock (“Domesticated Company Warrant”) pursuant to the related warrant agreement; and (iv) each of the then issued
and outstanding units of the Company (the “Cayman Company Units”) shall be separated into its component parts, consisting
of one share of Domesticated Company Class A Stock and one-half of one Domesticated Company Warrant.
Concurrently with the Domestication and subject
to the satisfaction or waiver of the conditions of the Merger Agreement, the Company will also file (a) a certificate of incorporation
with the Secretary of State of Delaware in the form attached to the Merger Agreement (the “Company Domesticated Charter”)
and (b) adopt bylaws in the form attached to the Merger Agreement (the “Company Domesticated Bylaws”), to (among other things)
establish a revised dual class structure with shares of Domesticated Company Class A Stock and shares of Class B common stock, par value
$0.0001 per share, of the Company (after Domestication), with the same economic terms as Domesticated Company Class A Stock, but carrying
increased voting rights in the form of 20 votes per share (the “Domesticated Company Class B Stock” and together with the
Domesticated Company Class A Stock, the “Domesticated Company Stock”).
Consideration and Structure
Under the Merger Agreement,
D8 Holdings has agreed to acquire all of the outstanding shares of common stock of Vicarious Surgical for approximately $1 billion in
aggregate consideration. Vicarious Surgical stockholders (other than Adam Sachs, Barry Greene and Sammy Khalifa (the “Founders”))
will receive shares of Domesticated Company Class A Stock (valued at $10.00 per share), equal to (i) the amount of shares of Company Capital
Stock (as defined in the Merger Agreement) owned by such Company Stockholder (as defined in the Merger Agreement) multiplied by
(ii) the Fully Diluted Adjusted Merger Consideration (as defined by the Merger Agreement) for each share in such class of Company Capital
Stock (as defined in the Merger Agreement). The Founders will receive shares of Domesticated Company Class B Stock equal to (i) the amount
of shares of Company Class A Common Stock (as defined in the Merger Agreement) owned by such Founder multiplied by (ii) the Fully
Diluted Adjusted Merger Consideration (as defined by the Merger Agreement) for each share of Company Class A Common Stock (as defined
in the Merger Agreement).
Pursuant to the Merger Agreement,
at the effective time of the Business Combination (the “Effective Time”), each outstanding option to purchase shares of Vicarious
Surgical common stock (a “Vicarious Option”) that is outstanding, whether or not then vested or unvested, will be assumed
by the Company and will be converted into an option to acquire Domesticated Company Class A Stock of the Company (a “Company Option”)
with the same terms and conditions as applied to the Vicarious Option (as defined in the Merger Agreement) immediately prior to the Effective
Time; provided that the number of shares underlying such Company Option will be determined by multiplying the number of shares of Company
Capital Stock (as defined in the Merger Agreement) that are issuable upon the exercise of such Vicarious Option immediately prior to the
Effective Time, by the Fully Diluted Adjusted Merger Consideration (as defined in the Merger Agreement) for such class, which product
shall be rounded down to the nearest whole number of shares, at a per share exercise price determined by dividing the per share exercise
price of such Vicarious Option immediately prior to the Effective Time by the Fully Diluted Adjusted Merger Consideration (as defined
in the Merger Agreement) for such class, which quotient shall be rounded up to the nearest whole cent.
Pursuant to the Merger Agreement,
at the Effective Time, each warrant to purchase shares of Company Capital Stock (as defined in the Merger Agreement) that is issued and
outstanding prior to the Effective Time and has not been terminated pursuant to its terms will be assumed and converted into a warrant
exercisable for shares of Domesticated Company Class A Stock of the Company.
The parties to the Merger
Agreement have made customary representations, warranties and covenants in the Merger Agreement, including, among others, covenants with
respect to the conduct of Vicarious Surgical and D8 Holdings and its subsidiaries prior to the Closing.
The Closing is subject to
certain customary conditions, including, among other things: (i) approval by D8 Holdings’ stockholders and Vicarious Surgical’s
stockholders of the Merger Agreement, the Business Combination and certain other actions related thereto, (ii) the expiration or termination
of the waiting period (or any extension thereof) applicable under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR
Act”),(iii) the absence of a material adverse effect with
respect to Vicarious Surgical, (iv) D8 Holdings having at least $125,000,000 of cash at the Closing, consisting of cash held in the Trust
Account (as defined in the Merger Agreement) after giving effect to all Parent Shareholder Redemptions, and cash received from PIPE Investors
(as defined below) and (v) Domesticated Parent Stock (as defined in the Merger Agreement) being approved for listing upon the Closing
the continued listing of the shares of D8 Holdings common stock on the NYSE subject only to official notice of such issuance and to the
requirement to have a sufficient number of round lot holders.
The Merger Agreement may
be terminated by D8 Holdings or Vicarious Surgical under certain circumstances, including, among others, (i) by mutual written
agreement of D8 Holdings and Vicarious Surgical, (ii) by either D8 Holdings or Vicarious Surgical if the Closing has not occurred on
or before October 15, 2021, or (iii) by D8 Holdings or Vicarious Surgical if D8 Holdings has not obtained the required approval of
its shareholders at the extraordinary meeting.
The foregoing description
of the Merger Agreement and the Business Combination do not purport to be complete and is qualified in its entirety by the terms and conditions
of the Merger Agreement, a copy of which is attached hereto as Exhibit 2.1 and is incorporated herein by reference. The Merger Agreement
contains representations, warranties and covenants that the parties to the Merger Agreement made to each other as of the date of the Merger
Agreement or other specific dates. The assertions embodied in those representations, warranties and covenants were made for purposes of
the contract among the parties and are subject to important qualifications and limitations agreed to by the parties in connection with
negotiating the Merger Agreement. The Merger Agreement has been attached to provide investors with information regarding its terms and
is not intended to provide any other factual information about D8 Holdings, Vicarious Surgical or any other party to the Merger Agreement.
In particular, the representations, warranties, covenants and agreements contained in the Merger Agreement, which were made only for purposes
of the Merger Agreement and as of specific dates, were solely for the benefit of the parties to the Merger Agreement, may be subject to
limitations agreed upon by the contracting parties (including being qualified by confidential disclosures made for the purposes of allocating
contractual risk between the parties to the Merger Agreement instead of establishing these matters as facts) and may be subject to standards
of materiality applicable to the contracting parties that differ from those applicable to investors and reports and documents filed with
the U.S. Securities and Exchange Commission (the “SEC”). Investors should not rely on the representations, warranties, covenants
and agreements, or any descriptions thereof, as characterizations of the actual state of facts or condition of any party to the Merger
Agreement. In addition, the representations, warranties, covenants and agreements and other terms of the Merger Agreement may be subject
to subsequent waiver or modification. Moreover, information concerning the subject matter of the representations and warranties and other
terms may change after the date of the Merger Agreement, which subsequent information may or may not be fully reflected in the Company’s
public disclosures.
Subscription Agreements
The Company entered into
subscription agreements (the “Subscription Agreements”), each dated as of April 15, 2021, with certain institutional
investors (the “PIPE Investors”), pursuant to which, among other things, the Company agreed to issue and sell, in
private placements to close immediately prior to the Closing, an aggregate of 11,500,000 shares of Domesticated Company Class A
Stock, at a purchase price of $10.00 per share, for aggregate consideration of $115,000,000.
The foregoing description
of the Subscription Agreements does not purport to be complete and is qualified in its entirety by the terms and conditions of the form
of Subscription Agreement, a copy of which is filed as Exhibit 10.1 hereto and is incorporated by reference herein.
Vicarious Surgical Support Agreement
In connection with and following
the execution of the Merger Agreement, D8 Holdings will enter into a support agreement with Vicarious Surgical and certain Vicarious Surgical
stockholders (the “Vicarious Surgical Support Agreement”), pursuant to which such Vicarious Surgical stockholders will agree,
among other things, to vote (whether pursuant to a duly convened meeting of Vicarious Surgical’s stockholders or pursuant to an
action by written consent) in favor of the adoption and approval of the Business Combination and any of the transactions contemplated
by the Merger Agreement thereto following the time at which the Registration Statement shall have been declared effective and delivered
or otherwise made available to the Vicarious Surgical stockholders.
The foregoing description
of the Vicarious Surgical Support Agreement does not purport to be complete and is qualified in its entirety by the terms and conditions
of the form of Vicarious Surgical Support Agreement, a copy of which is filed as Exhibit C to Exhibit 2.1 hereto and is incorporated by
reference herein.
Sponsor Support Agreement
In connection with the execution
of the Merger Agreement, the Company entered into a support agreement (the “Sponsor Support Agreement”) with D8 Holdings Sponsor
LLC, a Delaware limited liability company (the “Sponsor”) and each of the Company’s directors and officers (together
with the Sponsor, the “Insiders”), pursuant to which the Insiders agreed, among other things, to vote all shares of the Subject
Securities (as defined in the Sponsor Support Agreement) held by them in favor of the Business Combination, and take certain other actions
in support of the Business Combination. In addition, the Company and the Insiders agreed to amend those certain letter agreements, dated
as of July 14, 2020 and April 9, 2021, so that the Lock-Up Period (as defined in the Sponsor Support Agreement) applicable to the Subject
Securities held by the Insiders will end on the earlier of (a) 180 days after the effective date of the Merger Agreement (the “Effective
Date”) and (b) the date on which the volume weighted average closing sale price of one share of Domesticated Company Class A Stock
as reported on the NYSE (or the exchange on which the shares of Domesticated Company Class A Stock are then listed) is greater than or
equal to $12.00 for a period of at least 20 trading days out of 30 consecutive trading days ending on the trading day immediately prior
to the date of determination (which shall be equitably adjusted for stock splits, reverse stock splits, stock dividends, reorganizations,
recapitalizations, reclassifications, combination, exchange of shares or other like change or transaction with respect to Domesticated
Company Class A Stock occurring on or after the Closing); provided that, the 30 day consecutive trading day period referenced above shall
have commenced no earlier than 90 days after the Effective Time).
The foregoing description
of the Sponsor Support Agreement does not purport to be complete and is qualified in its entirety by the terms and conditions of the Sponsor
Support Agreement filed as Exhibit 10.2 hereto and incorporated by reference herein.