Company: COOT
Filing Date: 2025-05-30
Form Type: 10-Q
Source: 0001641172-25-013065
Chunk: 1

Company: Australian Oilseeds Holdings Ltd
Filing Date: 2025-05-30
Form: 10-Q
Item: Item 8
Chunk 1
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DOC has limited operations but is established as a public investment vehicle that has the express purpose
of making an investment in an operating company.

On
March 21, 2024 (the “Closing Date”), the Company consummated the previously announced Business Combination (defined below).
The Business Combination was announced on December 7, 2022, where AOI, PubCo, and EDOC entered into a business combination agreement
(“Business Combination Agreement”), pursuant to which, (a) EDOC merged with and into Merger Sub, with EDOC continuing as
the surviving entity (the “Merger”), and with holders of EDOC securities receiving substantially identical securities of
Pubco, and (b) immediately prior to the Merger, Pubco acquired all of the issued and outstanding ordinary shares of AOI (the “Purchased
Shares”) from the Sellers in exchange for ordinary shares of Pubco, with AOI became a wholly-owned subsidiary of Pubco (the “Share
Exchange”, and together with the Merger and the other transactions contemplated by the Business Combination Agreement, the “Transactions”).

The
total consideration paid by Pubco to the sellers for the purchased shares was an aggregate number of Pubco ordinary shares (the “Exchange
Shares”) with an aggregate value (the “Exchange Consideration”) equal to, without duplication, (i) USD$190,000,000,
plus (or minus, if negative) (ii) AOI’s net working capital less a target net working capital of USD$4,000,000, minus (iii) the
aggregate amount of any outstanding indebtedness, net of cash and cash equivalents, of AOI and its subsidiaries, and minus (iv) the amount
of any unpaid transaction expenses of AOI, with each Pubco ordinary share issued to the sellers valued at USD$10.00.

The
Merger was consummated on March 21, 2024, and the Share Exchange and Business Combination were consummated on the Closing Date. Pursuant
to the Business Combination Agreement, upon the consummation of the Business Combination at the effective time of the Business Combination
(the “Effective Time”):

    ●
    each
    holder of EDOC pre-transaction privately-held Class A ordinary shares and the Class B ordinary share (the “EDOC Ordinary Shares”)
    received a number of Company Ordinary Shares, which are listed under the ticker “COOT” (less 200,000 Class A ordinary
    shares