# EDGAR Filing Document

**Accession Number:** 0001819496
**File Stem:** 0001213900-23-001436
**Filing Date:** 2023-1
**Character Count:** 13417
**Document Hash:** a352fdb9c7e333ba2bcc6bc2a3b83402
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-23-001436.hdr.sgml**: 20230106

**ACCESSION NUMBER**: 0001213900-23-001436

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20230106

**ITEM INFORMATION**: Termination of a Material Definitive Agreement

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230106

**DATE AS OF CHANGE**: 20230106

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** IG Acquisition Corp.
- **CENTRAL INDEX KEY:** 0001819496
- **STANDARD INDUSTRIAL CLASSIFICATION:** BLANK CHECKS [6770]
- **IRS NUMBER:** 852096362
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39579
- **FILM NUMBER:** 23515750

**BUSINESS ADDRESS:**
- **STREET 1:** 251 PARK AVENUE SOUTH, 8TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010
- **BUSINESS PHONE:** 917-765-5588

**MAIL ADDRESS:**
- **STREET 1:** 251 PARK AVENUE SOUTH, 8TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010

?xml version="1.0" encoding="utf-8"?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d) OF THE**

**SECURITIES EXCHANGE ACT OF 1934**

Date of report (Date of earliest event reported): **January 6, 2023**

**IG ACQUISITION CORP.**

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Delaware** | **001-39579** | **85-2096362** |
| (State or other jurisdiction<br> of incorporation) | (Commission File Number) | (I.R.S. Employer<br> Identification Number) |

---

**251 Park Ave. South** **, 8<sup>th</sup> Floor New York, NY 10010**

(Address of principal executive offices, including zip code)

Registrant's telephone number, including area code: **(917) 765-5588**

**Not Applicable**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Units, each consisting of one share of Class A Common Stock and one-half of one Redeemable Warrant | IGACU | The Nasdaq Stock Market LLC |
| Class A Common Stock, par value $0.0001 per share | IGAC | The Nasdaq Stock Market LLC |
| Warrants, each exercisable for one share of Class A Common Stock at a price of $11.50 | IGACW | The Nasdaq Stock Market LLC |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Introductory Note**

On September 22, 2022, IG Acquisition Corp., a Delaware corporation ("**IGAC**"), PlayUp Limited, an Australian public company (the "**Company**"), Maple Grove Holdings Public Limited Company, a public limited company incorporated in the Republic of Ireland ("**Parent**"), and Project Maple Merger Sub, LLC, a Delaware limited liability company and a direct, wholly-owned subsidiary of Parent ("**Merger Sub**") entered into a Business Combination Agreement (the "**BCA**") and IGAC, the Company and Parent entered into a Scheme Implementation Deed ("**SID**").

On December 8, 2022, IGAC, the Company, Parent and Merger Sub entered into an Amendment Agreement to amend the BCA and the SID. The Amendment Agreement removed all exclusivity provisions from the BCA and the SID and permitted IGAC, on the one hand, and the Company, Parent and Merger Sub, on the other hand, to discuss alternative potential business combinations with alternative target companies. The Amendment Agreement also provided that either IGAC, on the one hand, or the Company, Parent and Merger Sub, on the other hand, may immediately terminate the BCA and the SID if either has agreed final terms (such as a letter of intent) with a third party to enter into a business combination and intends to enter into those business combination terms with the third party.

**Item 1.02. Termination of a Material Definitive Agreement.**

On January 6, 2023, IGAC provided written notice (the "Termination Notice") to the Company, Parent and Merger Sub that it was terminating the BCA pursuant to Section 9.01(e) of the BCA effective immediately. The Termination Notice also served as written notice to the Company and Parent that IGAC was terminating the SID pursuant to clause 11.1(d) of the SID effective immediately.

The foregoing description of the Termination Notice does not purport to be complete and is qualified in its entirety by the terms and conditions of the BCA and the SID, which were previously filed as Exhibits 2.1 and 2.2 to the Current Report on Form 8-K, filed by IGAC with the U.S. Securities and Exchange Commission on September 22, 2022, and the Amendment Agreement, which was filed as Exhibit 10.1 to the Current Report on Form 8-K, filed with the U.S. Securities and Exchange Commission on December 8, 2022, each of which is incorporated by reference herein.

**Item 8.01. Other Events.**

The board of directors of IGAC has determined that IGAC will not be able to complete the transactions contemplated by the BCA or any other initial business combination within the time period required by its Amended and Restated Certificate of Incorporation, as amended (the "Charter"). Accordingly, IGAC will dissolve and liquidate pursuant to the terms of the Charter, effective as of the close of business on January 11, 2023, and will redeem all of the outstanding shares of Class A common stock that were included in the units issued in its initial public offering (the "Public Shares"), at a per-share redemption price of approximately $10.12 after taking into account the removal of a portion of the accrued interest in the trust account to pay taxes and for dissolution expenses.

As of the close of business on January 11, 2023, the Public Shares will be deemed cancelled and will represent only the right to receive the redemption amount.

To provide for the disbursement of funds from the trust account, IGAC has instructed Continental Stock Transfer & Trust Company, the trustee of the trust account ("Continental"), to take all necessary actions to liquidate the securities held in the trust account. The proceeds of the trust account will be held in a non-interest bearing account while awaiting disbursement to the holders of the Public Shares. Record holders will receive their pro rata portion of the proceeds of the trust account by delivering their Public Shares to Continental, IGAC's transfer agent. Beneficial owners of Public Shares held in "street name," however, will not need to take any action to receive the redemption amount. The redemption of the Public Shares is expected to be completed within ten business days after January 11, 2023.

IGAC's sponsor has agreed to waive its redemption rights with respect to its outstanding shares of Class B common stock issued prior to IGAC's initial public offering. There will be no redemption rights or liquidating distributions with respect to IGAC's warrants, which will expire worthless.

IGAC expects that the Nasdaq Stock Market will file a Form 25 with the U.S. Securities and Exchange Commission (the "Commission") to delist IGAC's securities. IGAC thereafter expects to file a Form 15 with the Commission to terminate the registration of its securities under the Securities Exchange Act of 1934, as amended.

**Item 9.01 Financial Statements and Exhibits.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibits

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 10.1 | [Notice of Termination dated January 6, 2023](ea171342ex10-1_igacq.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

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**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
| **IG ACQUISITION CORP.** | **IG ACQUISITION CORP.** | **IG ACQUISITION CORP.** |
| By: | /s/ Christian Goode | /s/ Christian Goode |
|  | Name: | Christian Goode |
|  | Title: | Chief Executive Officer |

---

Dated: January 6, 2023

## Exhibit 10.1

**Exhibit 10.1** 

**IG ACQUISITION CORP.<br> 251 Park Avenue South, 8th Floor<br> New York, NY 10010**

January 6, 2023

**BY EMAIL**

PlayUp Limited<br> Maple Grove Holdings Public Limited Company<br> Project Maple Merger Sub, LLC<br> c/o Maple Grove Holdings PLC<br> 48 Epsom Road<br> Zetland NSW 2107 Australia

Ladies and Gentlemen:

**<u>NOTICE OF TERMINATION</u>**

Reference is made to that certain Business Combination Agreement, dated as of September 22, 2022 (the "<u>BCA</u>), by and among IG Acquisition Corp., a Delaware corporation ("<u>SPAC</u>"), PlayUp Limited, an Australian public company with Australian Company Number (ACN) 612 529 307 (the "<u>Company</u>"), Maple Grove Holdings Public Limited Company, a public limited company incorporated in the Republic of Ireland with registered number 725881 ("<u>Parent</u>"), and Project Maple Merger Sub, LLC, a Delaware limited liability company and a wholly owned subsidiary of Parent ("<u>Merger Sub</u>"). Reference is further made to that certain Scheme Implementation Deed, dated as of September 22, 2022 (the "<u>SID</u>"), by and among SPAC, the Company and Parent. Each capitalized term used but not otherwise defined herein has the meaning ascribed to such term in the BCA.

This letter serves as written notice to the Company, Parent and Merger Sub that SPAC is hereby terminating the BCA pursuant to Section 9.01(e) of the BCA and that such termination is effective immediately. This letter also serves as written notice to the Company and Parent that SPAC is hereby terminating the SID pursuant to clause 11.1(d) of the SID and that such termination is effective immediately.

Under Section 7.13 of the BCA, the Company is required to use its commercially reasonable efforts to deliver its audited financial statements prepared in accordance with the auditing standards of the PCAOB and presented in accordance with IFRS (the "<u>Company Financial Statements</u>") *by October 31, 2022*. Despite SPAC's repeated requests for the Company Financial Statements, the Company has failed to deliver the Company Financial Statements and has provided no indication of when the Company Financial Statements will be delivered or if they will be delivered at all. The Company's breach of Section 7.13 of the BCA constitutes a Terminating Company Breach.

<u>Section 7.01</u> of the BCA, which incorporates clause 3.4 of the SID, requires that the parties to the SID prepare and file the preliminary Registration Statement / Proxy Statement with the SEC *as soon as practicable after the date of the SID*. In order to prepare and file preliminary Registration Statement / Proxy Statement, the Company and Parent must first deliver a draft of the Parent Registration Statement to SPAC, which includes the Company Financial Statements. Despite SPAC's repeated requests for a draft of the Parent Registration Statement, the Company and Parent have failed to deliver a draft of the Parent Registration Statement and have provided no indication of when the Parent Registration Statement will be delivered or if it will be delivered at all. Indeed, Representatives of the Company have advised SPAC that its counsel has ceased working on the Parent Registration Statement. The Company's and Parent's breach of <u>Section 7.6</u> of the BCA constitutes a Terminating Company Breach.

The aforementioned Terminating Company Breaches have caused undue delay and are not capable of being cured in a manner that would permit the Closing to occur by the End Date and, therefore, no cure period in respect of the Terminating Company Breaches applies.

This letter is non-exhaustive and SPAC reserves all of its rights and remedies.

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| | | |
|:---|:---|:---|
| Very truly yours, | Very truly yours, | Very truly yours, |
| IG ACQUISITION CORP. | IG ACQUISITION CORP. | IG ACQUISITION CORP. |
| By: | /s/ Christian Goode | /s/ Christian Goode |
|  | Name: | Christian Goode |
|  | Title: | CEO |

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cc: DLA Piper Australia (by email)<br> DLA Piper LLP (US) (by email)<br> Paul, Weiss, Rifkind, Wharton & Garrison LLP (by email)