M&A - Feel The World, Inc.

Form Type: 1-U/A

Filing Date: 2025-04-14

Corporate Action: Acquisition

Type: Update

Accession Number: 000107997325000626

Filing Summary: Feel The World, Inc., doing business as Xero Shoes, amended its previous Current Report due to a clerical error. The company completed a financing round on March 21, 2025, issuing $5 million of Senior Preferred Stock to TZP Group Holdings, L.P. This financing led to changes in board composition with TZP appointing a majority of the board. Key protective provisions were established for holders of Class A Voting Common Stock, including amendments to the voting agreement. A 'make whole' provision was included to ensure investors receiving returns on their investment should a future acquisition not meet specified requirements. The report also noted the resignation of the Chief Financial Officer and described amendments to employment contracts and other critical company agreements. Overall, these actions signify a strategic move towards potential acquisitions and structural adjustments to enhance investor protections.