Company: PED
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001654954-25-013092
Chunk: 94

Company: PEDEVCO CORP
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 94
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quired Companies and North Peak, entered into a First Amendment to Agreement and Plan of Merger, pursuant to which each of the parties agreed that the Information Statement shall be prepared and filed with the SEC, as soon as reasonably practicable by the Company. The acquisition will be accounted for as a business combination under the acquisition method of accounting pursuant to ASC 805. The initial accounting for the business combination is in process, which includes a valuation analysis to value the assets and liabilities assumed as a result of the transaction. As such, the impact on the condensed consolidated financial statements cannot be estimated at this time. 

 17Table of Contents

Shareholder Agreement At the Closing, PEDEVCO entered into a Shareholder Agreement with Century, North Peak (together, the “Juniper Shareholder”), and, for certain limited provisions, Dr. Simon G. Kukes, the then Executive Chairman of PEDEVCO and The SGK 2018 Revocable Trust (a trust which Dr. Simon serves as trustee and beneficiary of). The agreement grants the Juniper Shareholder board nomination rights from the Closing until the Automatic Conversion Date, including the ability to designate one board nominee and one non-voting observer. Following the Automatic Conversion Date, the Board will consist of six directors, with Juniper’s nominees determined by their ownership percentage of Conversion Shares. The Juniper Shareholder may nominate up to three directors, including one independent director, with rights decreasing as ownership declines. The Juniper Shareholder also retains the right to remove or replace its directors, subject to Board approval and suitability requirements under SEC and NYSE standards. At least one Juniper Shareholder director will serve on each Board committee (except the audit committee), and will chair the Compensation and Governance Committees, subject to limited exceptions. The Shareholder Agreement also grants the shareholders registration rights, requiring PEDEVCO to use commercially reasonable efforts to file a registration statement covering the resale of the shares of common stock issuable upon conversion of the PEDEVCO Series A Preferred Stock within 45 days of the Automatic Conversion Date, using Form S-3 or Form S-1 if necessary. Shareholders may request underwritten offerings of at least $10 million, subject to customary agreements and underwriter approval, with limits on frequency and “grace periods” for delays. Piggyback registration rights allow participation in offerings by the Company or other holders, subject to underwriter and priority rules. The Company will pay related expenses and indemnify shareholders against certain Securities Act of 1933, as