Company: PHR
Filing Date: 2025-09-04
Form Type: 8-K
Source: 0001412408-25-000058
Chunk: 2

Company: Phreesia, Inc.
Filing Date: 2025-09-04
Form: 8-K
Item: Item 1.01
Chunk 2
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One is required, within twenty-four (24) hours, to notify the Company if AccessOne, the Representative or any equityholder of AccessOne receives, after the date of the Merger Agreement, any proposal or offer regarding an Acquisition Transaction or any indications of interest or requests for information in respect of an Acquisition Transaction, including any updates or modifications thereto.

Restrictive Covenants. In connection with the execution of the Merger Agreement, certain equityholders of AccessOne, including members of AccessOne’s management team, entered into restrictive covenant agreements with effectiveness upon closing, providing for customary non-competition, non-solicitation, no-hire, non-interference, non-disparagement, and non-disclosure obligations.

Representations, Warranties and Covenants. The Merger Agreement contains customary representations and warranties from the parties, and each party has agreed to customary covenants, including, among others, covenants relating to: (i) the conduct of business during the interim period between the execution of the Merger Agreement and the Effective Time (including restrictions on the Company’s ability to take certain actions, such as amendments to governing documents, issuing securities, consummating acquisitions and mergers, entering or abandoning existing lines of business, among others); and (ii) the obligation to use reasonable best efforts to (a) preserve the present business organization of AccessOne and its subsidiaries, conduct the operations of AccessOne and its subsidiaries in compliance with applicable laws, preserve the assets and properties of AccessOne and its subsidiaries in good repair and condition, retain the services of the executive officers and key employees of AccessOne and its subsidiaries, (b) maintain in effect all material permits of AccessOne and its subsidiaries, (c) manage the working capital and the amount of deferred revenues in the ordinary course of business consistent with past practice of AccessOne and its subsidiaries, (d) continue to make capital expenditures consistent with the business plan and budget of AccessOne and its subsidiaries that was provided to the Company, and (e) not take (or omit to take) any action which would reasonably be expected to result in a Material Adverse Effect (as defined therein). In connection with the execution of the Merger Agreement, the Company bound a buyer side representation and warranty insurance policy with respect to the representations and warranties of AccessOne in the Merger Agreement.

Indemnification.  The Merger Agreement provides customary indemnification rights and obligations by each of the parties thereto.

Closing Conditions. Consummation of the