Company: MACIW
Filing Date: 2025-08-05
Form Type: 8-K
Source: 0001104659-25-074242
Chunk: 0

Company: Melar Acquisition Corp. I/Cayman
Filing Date: 2025-08-05
Form: 8-K
Item: Item 1.01
Chunk 0
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Item
1.01 Entry Into a Material Definitive Agreement.

Merger
Agreement

This
section describes certain material provisions of the Merger Agreement (as defined below), but does not purport to describe all of the
terms thereof. The following summary is qualified in its entirety by reference to the complete text of the Merger Agreement, a copy of
which is attached hereto as Exhibit 2.1. Shareholders of Melar Acquisition Corp. I and other interested parties are urged to read the
Merger Agreement in its entirety. Unless otherwise defined herein, the capitalized terms used below have the meanings given to them in
the Merger Agreement.

General Terms and
Effects; Merger Consideration

On July
30, 2025, Melar Acquisition Corp. I, a Cayman Islands exempted company (together with its successors, including after the Domestication
(as defined below), “ Melar”) entered into an Agreement and Plan of Merger (the “ Merger Agreement”)
with MAC I Merger Sub Inc., a Nevada corporation and a wholly-owned subsidiary of Melar (“ Merger Sub, Everli
Global Inc., a Nevada corporation (together with its successors, the “ Everli”), Melar Acquisition Sponsor I
LLC, a Delaware limited liability company (the “ Sponsor”), in the capacity thereunder as the representative
for the shareholders of the Melar (other than the Escrowed Seller (as defined below) and his successors and assigns) from and after the
closing (the “ Closing”) of the transactions contemplated by the Merger Agreement (collectively, the “ Business
Combination”) (in such capacity, the (the “ SPAC Representative”), and Salvatore Palella (the “ Escrowed
Seller”).

Pursuant
to the Merger Agreement, subject to the terms and conditions set forth therein, (i) prior to the Closing, SPAC will continue out of the
Cayman Islands and into the State of Nevada and domesticate as a Nevada corporation (the “ Domestication”), and
(ii) at the Closing, Merger Sub will merge with and into Everli (the “Merger”), with Everli continuing as the
surviving entity and wholly-owned subsidiary of Melar, and with each Everli shareholder receiving shares of Melar common stock at the
Closing, as further described below.

The Merger Agreement provides
that the total consideration received by the Everli security holders from Melar at