Company: MACIW
Filing Date: 2025-08-05
Form Type: 425
Source: 0001104659-25-074244
Chunk: 7

Company: Melar Acquisition Corp. I/Cayman
Filing Date: 2025-08-05
Form: 425
Chunk 7
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 Everli; (iii) approvals of any required governmental authorities and
completion of any antitrust expiration periods; (iv) procurement of requisite consents; (v) no law or order preventing the Business Combination;
(vi) the Registration Statement having been declared effective by the SEC; (vii) approval of the Melar common stock for listing on Nasdaq;
and (viii) consummation of Domestication.

It shall
also be a mutual closing condition that Melar shall have cash and cash equivalents equal to at least $10,000,000 consisting of (x) funds
remaining in Melar’s trust account (after giving effect to the completion and payment of the redemption of its public shareholders
(the “Closing Redemption”), plus (b) the gross proceeds from any PIPE Investment from existing Melar investors
or investors participating in a Transaction Financing first introduced by Melar, less (y) (A) any expenses of Melar that remain outstanding
at the Closing, (B) any excise tax due or that will become due as a result of the Closing Redemption and (C) any outstanding expenses
relating to the extension of time for Melar to complete a business combination.

In addition,
unless waived by Everli, the obligations of Everli to consummate the Business Combination are subject to the satisfaction of the following
additional Closing conditions, in addition to the delivery by Melar of customary certificates and other Closing deliverables: (i) the
representations and warranties of Melar being true and correct as of the date of the Closing, except to the extent made as of a particular
date (subject to certain materiality qualifiers); (ii) Melar having performed in all material respects its obligations and complied in
all material respects with its covenants and agreements under the Merger Agreement required to be performed or complied with by it on
or prior to the date of the Closing; and (iii) the absence of any Material Adverse Effect with respect to Melar since the date of the
Merger Agreement which is continuing and uncured.

Unless
waived by Melar, the obligations of Melar and Merger Sub to consummate the Business Combination are subject to the satisfaction of the
following additional Closing conditions, in addition to the delivery by Everli of customary certificates and other Closing deliverables
and ancillary documents: (i) the representations and warranties of Everli being true and correct as of the date of the Closing, except
to the extent made as of a particular