Item 1.01Item 1.01 - Entry into Material Agreement
Item
1.01 Entry into a Material Definitive Agreement.
On
September 13, 2026, Nomadar Corp., a Delaware corporation (the “Company” or “Nomadar”), Fox Soccer Holding
Company LLC, a Delaware limited liability company and wholly owned subsidiary of the Company (the “Purchaser”), the Fox Companies
(as defined below), Raluca Gold-Fuchs, Christian Fuchs, Chad Metzler, Anthony James Cozzone Jr., Martin Conway and Eugene Luther Ray
(collectively, the “Sellers”) entered into an Equity Purchase Agreement, (the “EPA”).
Pursuant
to the EPA, the Purchaser will acquire 100% of the issued and outstanding equity interests of (i) Fox Soccer Academy LLC, a New York
limited liability company (“Fox NY”), (ii) Fox Sports Academy of the Carolinas LLC, a North Carolina limited liability company
(“Fox NC”), (iii) Fox Soccer Academy LTD, a private company limited by shares organized under the laws of the United Kingdom
(“Fox UK”), and (iv) Fox Soccer Academy Austria, an Austrian verein (“Fox Austria,” and together with Fox NY,
Fox NC and Fox UK, the “Fox Companies”), as further described below (collectively, the “Transaction”). The Fox
Companies operate four soccer academies that provide training, league and tournament play, and camps and clinics for children and teens
at their respective locations in New York, North Carolina, the United Kingdom, and Austria.
The
closing of the Transaction (the “Closing”) is subject to the satisfaction or waiver of customary closing conditions, including
the absence of any legal prohibition, receipt of required governmental consents, accuracy of representations and warranties, compliance
with covenants, and absence of a Material Adverse Effect (as defined in the EPA), approval of the transactions contemplated by the
EPA by the board of directors of the Purchaser, and the Gold-Fuchs Employment Agreements and the Metzler Employment Agreement not having
been rescinded prior to the Closing, among other conditions more fully described in the EPA. Either party may terminate the EPA if
the Closing has not occurred within 60 days of the date of the EPA, provided that such right is not available to a party whose material
breach of the EPA has been a principal cause of the failure of the Closing to occur by such date.
Pursuant
to the EPA, at the Closing (the date on which the Closing occurs, the “Closing Date”), (a) the Sellers will sell to the Purchaser
all of the membership interests and shares of the Fox Companies other than the Contributed Interests (as defined below), and (b) immediately
following such acquisition, the Sellers will contribute to the Purchaser (the “Seller Contribution”) such number of equity
interests representing a value equal to 49% of the total interests of the Fox Companies (the “Contributed Interests”) in
exchange for newly issued membership interests of the Purchaser (the “Purchaser Interests”), in lieu of receiving cash or
shares of the Company’s common stock, par value $0.000001 per share (“Nomadar Shares”) for those Contributed Interests.
The Seller Contribution is intended to qualify as a contribution described in Section 721 of the Internal Revenue Code of 1986, as amended.
Following the Closing, the Fox Companies will become wholly-owned subsidiaries of the Purchaser.
Consideration
and Payments at Closing
The
aggregate purchase price for the Fox Companies (the “Purchase Price”) consists of (i) the Purchaser Interests, representing
49% of the membership interests of Fox Soccer Holding Company LLC, comprised of an aggregate of 4,419,607 Class B Units, (ii) a base
cash payment of $2,000,000 (the “Base Closing Payment Amount”), (iii) adjustments for the cash on hand, working capital,
net debt, and unpaid transaction expenses of the Fox Companies as of the Closing (each as further described in the EPA), (iv) two deferred
payments totaling $2,600,000 (as described below), and (v) a contingent earnout payment of up to $1,500,000 (as described below).
At
the Closing, the Purchaser will issue the Purchaser Interests to the Sellers in their respective pro rata portions as set forth in the
EPA (the “Pro Rata Portions”), and will pay cash to the Sellers by wire transfer in an amount equal to the closing cash purchase
price (the “Closing Payment”) less the value of the Purchaser Interests less $500,000. Nomadar will issue Nomadar Shares
valued at $3.36575 per share, with an aggregate value of $500,000, to the Sellers in their respective Pro Rata Portions (the “Closing
Shares”). In addition, $600,000 of the Closing Payment will be withheld as a holdback, payable to the Sellers on the second anniversary
of the Closing Date, subject to reductions for indemnification claims, purchase price adjustments, and any amounts retained
after the holdback payment date in respect of pending but unsatisfied indemnification claims.
Deferred
Payments
Pursuant
to the EPA, within 30 days after completion of the Fox Companies’ 2026-2027 soccer season, the Purchaser will pay the Sellers $1,000,000
in cash and Nomadar will issue Nomadar Shares with an aggregate value of $300,000 (the “First Additional Payment Amount”).
Within 30 days after completion of the 2027-2028 soccer season, the Purchaser will pay the Sellers $1,000,000 in cash and Nomadar will
issue Nomadar Shares with an aggregate value of $300,000 (the “Second Additional Payment Amount”). The Nomadar Shares issued
in connection with the Additional Payment Amounts will be valued at the average closing price per share for the ten trading days prior
to the applicable date of issuance.
Earnout
The
Sellers are eligible to receive a contingent earnout payment (the “Earnout Payment Amount”) equal to the lesser of (i) $1,500,000
and (ii) the amount by which the cumulative net income of the Fox Companies over the four soccer seasons from 2025-2026 through 2028-2029
exceeds approximately $10.9 million. The Earnout Payment Amount, if any, is payable in cash, Nomadar Shares, or a combination thereof,
as mutually agreed by the Purchaser and the Sellers holding a majority of the Purchaser Interests.
Nomadar
Option to Acquire Minority Interests
Pursuant
to the EPA, following the Closing, Nomadar will have the right, at any time from the Closing until 90 days after the Earnout Payment
Amount is finally determined, to acquire all of the Sellers’ Purchaser Interests for an aggregate option purchase price of $4,400,000,
payable in cash, Nomadar Shares, or a combination thereof, as mutually agreed by Nomadar and the Sellers holding a majority of the
Purchaser Interests.
Employment
Agreements
In
connection with the execution of the EPA, the Company and the Purchaser entered into employment agreements with certain of the Sellers,
including Raluca Gold-Fuchs and Chad Metzler, which will become effective at the Closing. The employment agreements are included as exhibits
to the EPA filed as Exhibit 2.1 hereto.
The EPA also contains restrictive
covenants binding on the Sellers following the Closing. For five years following the Closing, the Sellers are subject to non-competition
obligations in specified territories and non-solicitation and non-disparagement covenants. The Sellers are also subject to confidentiality
obligations under the Confidentiality Agreement for five years following the Closing.
The
foregoing description of the EPA and the transactions contemplated thereby does not purport to be complete and is qualified in its entirety
by reference to the full text of the EPA, which is filed as Exhibit 2.1 to this Current Report on Form 8-K and is incorporated herein
by reference.
Governance
of Fox Soccer Holding Company LLC
At
the Closing, Nomadar and the Sellers will enter into an Amended and Restated Limited Liability Company Agreement of Fox Soccer Holding
Company LLC (the “LLC Agreement”). The LLC Agreement will provide that the Purchaser will be managed by a Board of Managers
consisting of three Managers: Raluca Gold-Fuchs, Carlos Lacave, and Joaquín Martín Perles. Joaquín Martín
Perles will be appointed as President of the Purchaser. The LLC Agreement will create Class A Units held by Nomadar and Class B Units
held by the Sellers.
The
foregoing description of the LLC Agreement does not purport to be complete and is qualified in its entirety by reference to the full
text of the LLC Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.