SSAC filed an S-4 on Aug 12, 2026 for the May 29, 2026 BCA with Mobilewalla Holdco: Cayman-to-Delaware domestication, Merger Sub merge into Mobilewalla, rename to Covariate. Each SSAC Right converts into one-fifth of one Combined Company share at the Effective Time; units split into share, 1/2 warrant, and that right. Filing states no $5,000,001 NTA closing condition, so redemptions can leave net tangible assets below that threshold. Pro forma shows no-redemption vs max redemption of all 17,250,000 public shares for ~$174.90M at ~$10.14/share; close path is S-4 effectiveness plus shareholder vote, cash to the combined company is residual trust after redemptions.

Conversion 1/5