Global SPAC Partners Company *

PROPOSED BUSINESS COMBINATION: Gorilla Technology Group Inc.

ENTERPRISE VALUE: $720 million

ANTICIPATED SYMBOL: GRRR

Global SPAC Partners Company proposes to combine with Gorilla Technology Group Inc., a global leader in edge artificial intelligence (“edge AI”) for security and other applications.

Gorilla was established in 2001 with the vision of being a global leader in video intelligence, IoT technologies and cybersecurity. Gorilla maintains that vision and specializes in video analytics, network security and big data to support a wide range of solutions for commercial, industrial, cities and government purposes. Gorilla’s machine learning and deep learning video analysis algorithms can identify, analyze and extract information from digital content to drive business decisions — whether that be in healthcare, transportation hubs, manufacturing or retail.

Edge computing – which sits at the intersection of AI, IoT and Big Data – seeks to improve business agility by bringing the infrastructure and applications closer to where the data is generated and consumed, thereby powering the next wave of digital transformation. The industry is on the cusp of dramatic growth as the surge in number of connected devices (expected to reach 55.7 billion by 2025 according to International Data Corporation (“IDC”) and 5G network roll out by telecom players is expected to generate burgeoning growth in the volume of data being generated and increased adoption of AI. Per IDC, worldwide edge computing market is expected to reach over $250 billion in 2024, with the Edge internet economy is expected to be worth more than $4 trillion globally by 2030., which presents Gorilla, as one of the early movers in edge computing, with a significant growth opportunity.

Gorilla’s leading Edge AI technology has been developed over the last 20 years and includes 8 pending patent applications and 24 patents granted and issued patents within the US, Europe, Japan, China and Taiwan with solutions available across hardware platforms, and via AI models, AI appliances and AI SaaS modules. It develops a wide range of video-centric and content management solutions including Smart Cities, Smart Retail, and Enterprise Security. In addition, Gorilla provides a complete Security Convergence Platform to government institutions, telecom companies and private enterprises with network surveillance and cybersecurity.

SUBSEQUENT EVENT – 7/8/22 – LINK

• On July 08, 2022, Global SPAC Partners Co. announced the confirmation of a $41.9 million PIPE financing.
• Pursuant to the Amended PIPE Subscription Agreement, on July 7, 2022, the PIPE Investors confirmed to Global their commitment to purchase 4.15 million PIPE subunits, at a price of $10.10 per subunit, for a total investment amount of $41.9 million.
• Furthermore, Gorilla notified Global that it would waive the $50 million minimum cash condition to close the Transactions, such that the condition would be fulfilled with minimum cash of $41.9 million, the amount of total investment committed by the PIPE Investors.
• Global announced on February 10, 2022 that it had entered into subscription agreements with experienced AI institutional investors to purchase $50.5 million of private placement securities in Global, in connection with the closing of the Business Combination and the other transactions contemplated by the Amended Business Combination Agreement, by and between Global, Gorilla and the other parties thereto.
• The PIPE, as contemplated by the Original Subscription Agreements, consisted of the sale of 5 million PIPE subunits, with each PIPE subunit identical to the subunits included as part of the public units sold in Global’s initial public offering.
• On May 18, 2022, Global and the PIPE Investors amended the terms of the Original Subscription Agreements, pursuant to which the PIPE Investors were provided  the unilateral right for any reason to reduce the number of PIPE subunits they will purchase from an aggregate of 5 million PIPE subunits to an aggregate of 3 million PIPE subunits, at the same price of $10.10 per PIPE subunit. On July 7, 2022, the PIPE Investors notified Global that they would reduce the number of PIPE subunits they would purchase from 5 million to 4.15 million, for a total purchase price of $41.9 million.

SUBSEQUENT EVENT – 5/18/22 – LINK

• On May 18, 2022, Global, Merger Sub, Global SPAC Sponsors LLC (the “Global Representative”), and Tomoyuki Nii (the “Gorilla Representative”), entered into the Amended and Restated Business Combination Agreement (the “Amended and Restated Business Combination Agreement”).

Contingent Value Rights:

• The Amended Business Combination Agreement provides for the additional issuance of one Class A contingent value right of Gorilla (a “Class A CVR”), for each outstanding Class A ordinary share of Global as of the Effective Time that is not redeemed (including the “PIPE Share”) agree to waive their right to receive Class A CVRs pursuant to the Insider Letter Amendment.
• The PIPE Investors will receive for each new subunit of Global (the “PIPE Subunits”) purchased, one-half of one Class B contingent value right (each whole Class B contingent right, a “Class B CVR”).
• Each Class A CVR entitles the holder to receive from Gorilla, in the event that any Earnout Shares are forfeited by Gorilla shareholders, a pro-rata portion (along with the holders of Class B CVRs with respect to Revenue Protection Shares) of newly issued Gorilla ordinary shares, (“Gorilla Ordinary Shares”), and other securities or property in the Earnout Escrow Account that are forfeited by Gorilla shareholders with respect to the Earnout Shares.
• Each Class B CVR entitles the holder to receive, from Gorilla in the event that any Revenue Protection Shares are forfeited by Gorilla shareholders, a pro-rata portion (along with the holders of Class A CVRs) of newly issued Gorilla Ordinary Shares and other securities or property in the Earnout Escrow Account that are forfeited by Gorilla shareholders with respect to such Revenue Protection Shares, provided, that a Class B CVR shall not have any rights with respect to any Price Protection Shares.

Total Earnout:

• Subsequent Event – 7/8/22 – The Amended Business Combination Agreement provides that 14,000,000 Gorilla Ordinary Shares shall be placed in escrow in a segregated escrow account (the “Earnout Escrow Account”).
• Each Gorilla Shareholder shall have the contingent right to receive their pro-rata share of such Earnout Shares, based on the consolidated financial performance of Gorilla and its subsidiaries during the fiscal years ending each December 31, 2022 and December 31, 2023 (each an “Earnout Year”) and the price of the Gorilla Ordinary Shares during certain specified periods prior to December 31, 2023.
• The Gorilla Shareholders will be entitled to receive the Earnout Shares as follows:
• Global announced on February 10, 2022 that it had entered into subscription agreements with experienced AI institutional investors to purchase $50.5 million of private placement securities in Global, in connection with the closing of the Business Combination and the other transactions contemplated by the Amended Business Combination Agreement, by and between Global, Gorilla and the other parties thereto.
• The PIPE, as contemplated by the Original Subscription Agreements, consisted of the sale of 5 million PIPE subunits, with each PIPE subunit identical to the subunits included as part of the public units sold in Global’s initial public offering.
• On May 18, 2022, Global and the PIPE Investors amended the terms of the Original Subscription Agreements, pursuant to which the PIPE Investors were provided  the unilateral right for any reason to reduce the number of PIPE subunits they will purchase from an aggregate of 5 million PIPE subunits to an aggregate of 3 million PIPE subunits, at the same price of $10.10 per PIPE subunit. On July 7, 2022, the PIPE Investors notified Global that they would reduce the number of PIPE subunits they would purchase from 5 million to 4.15 million, for a total purchase price of $41.9 million.

2022 Earnout Shares:

• Each of the Gorilla Shareholders shall be entitled to receive their pro rata share of 60% of the Earnout Shares (the “2022 Earnout Shares”) from the Earnout Escrow Account, and all of the 2022 Earnout Shares shall vest, if all of the following occur:
  • a) the average 20 trading day VWAP of the Gorilla Ordinary Shares (the “Average VWAP Price”) is at least equal to the price at which each Global Class A Ordinary share is redeemed (the “Redemption Price”) ending on the last trading day immediately prior to each of
    • (i) September 30, 2022,
    • (ii) December 31, 2022,
    • (iii) the date (the “2022 Annual Report Filing Date”) and 
    • (iv) if the closing share price of the Gorilla Ordinary Shares falls below $5.00 per share for any 5 consecutive trading days during the period from the Closing until the 2022 Annual Report Filing Date then the trading day immediately after such 5^th consecutive trading day.
  • b) The amount of consolidated revenues of Gorilla and its subsidiaries for the fiscal year ended December 31, 2022, is at least $65,000,000 (the “2022 Revenue Target”).

2022 Price Protection:

• In the event that the Average VWAP Price is less than the Redemption Price during any of the 2022 VWAP Measurement Periods, then immediately on the first trading day after the end of such 2022 VWAP Measurement Period, Gorilla Shareholders shall forfeit and shall no longer be eligible to receive from the Earnout Escrow Account an aggregate number of Earnout Shares, whether 2022 Earnout Shares or 2023 Earnout Shares, equal to:
  • (a) (i) the total number of outstanding Global Class A Ordinary Shares as of the Effective Time that are not redeemed or converted in the Redemption, less the number of Private Global Shares, multiplied by
    • (ii) the Redemption Price, divided by
    • (iii) the Average VWAP Price for such 2022 VWAP Measurement Period, minus
  • (b) the Total Applicable Global Shares, minus
  • (c) the number of Earnout Shares, if any, forfeited by Gorilla Shareholders for the 2022 price protection for a prior 2022 VWAP Measurement Period (the “2022 Price Protection”).

2022 Gross Margin Test Penalty:

• In the event that the 2022 Gross Margin Test is not met, then immediately on the first trading day after the filing of the 2022 Annual Report, the Gorilla shareholders shall forfeit any 2022 Earnout Shares (but shall still be eligible to receive 2023 Earnout Shares) (the “2022 Gross Margin Test Penalty”).

2022 Annual Report Deadline Penalty:

• In the event that the 2022 Annual Report Deadline is not met and the failure to meet such condition is not waived in writing by a PIPE Investor Majority, then immediately on the first trading day after March 31, 2023, the Gorilla Shareholders shall forfeit any 2022 Earnout Shares (but shall still be eligible to receive 2023 Earnout Shares).

2022 Revenue Protection:

• In the event that any 2022 Earnout Shares remain after giving effect to the forfeitures by Gorilla Shareholders under the 2022 Price Protection, the 2022 Gross Margin Test Penalty or the 2022 Annual Report Deadline Penalty above (such remaining 2022 Earnout Shares, the “2022 Revenue Earnout Shares”), then if:
  • (i) the 2022 Consolidated Revenue is more than the 2022 Revenue Target, the 2022 Revenue Earnout Shares shall immediately become vested and deemed earned by and payable to the Gorilla Shareholders.
  • (ii) the 2022 Consolidated Revenue is less than the 2022 Revenue Target, but equal to at least $51,000,000 (the “2022 Revenue Floor”), then the Gorilla Shareholders shall immediately forfeit and shall no longer be eligible to receive an aggregate number of 2022 Revenue Earnout Shares equal to
    • (I) the difference of:
      • (x) the 2022 Consolidated Revenue minus
      • (y) the 2022 Revenue Floor, divided by
    • (II) the difference of:
      • (x) the 2022 Revenue Target minus
      • (y) the 2022 Revenue Floor, multiplied by
    • (III) the 2022 Revenue Earnout Shares, and the remaining 2022 Revenue Earnout Shares after giving effect to such forfeiture shall immediately become vested and deemed earned by and payable to the Gorilla Shareholders or
  • (iii) the 2022 Consolidated Revenue is less than the 2022 Revenue Floor, then the Gorilla Shareholders shall immediately forfeit and shall no longer be eligible to receive any 2022 Revenue Earnout Shares (but shall still be eligible to receive 2023 Earnout Shares) (the “2022 Revenue Protection”)

2023 Earnout Shares:

• If there are any remaining Earnout Shares after giving effect to the forfeitures by Gorilla Shareholders under the 2022 Price Protection, 2022 Gross Margin Test Penalty, the 2022 Annual Report Deadline Penalty and the 2022 Revenue Protection above (such remaining Earnout Shares, the “2023 Earnout Shares”), then each of the Gorilla Shareholders shall be entitled to receive their pro rata share of the 2023 Earnout Shares from the Earnout Escrow Account, and all of the 2023 Earnout Shares shall vest, if all of the following occur:
  • (a) the Average VWAP Price is at least equal to the lower of:
    • (i) the lowest Average VWAP Price during the 2022 VWAP Measurement Periods and
    • (ii) the Redemption Price during the 20 trading day period (such period, the “2023 VWAP Measurement Period”) ending on the last trading day immediately prior to December 31, 2023 (the “2023 Annual Report”);
      • (b) the amount of consolidated revenues of Gorilla and its subsidiaries, on a consolidated basis, for the fiscal year ended December 31, 2023, is at least $90,000,000 (the “2023 Revenue Target”)
• The 2023 Earnout Shares are subject to (which have substantially the same meaning as described in 2022 provisions, but for the year 2023):
  • 2023 Price Protection
  • 2023 Gross Margin Test Penalty
  • 2023 Annual Report Deadline Penalty
  • 2023 Revenue Protection

Gorilla Shareholder Lock-Up:

• Gorilla shareholders receiving 94.12% of shares agreed to 1-year lock-up
• Applies to 65,000,000 shares, of which 14,000,000 shares to be placed in escrow 
• Subject to early release after 6 months post-merger if:
  • Initial 25% of shares, if closing price per share is greater than $12.50 (20/30 trading days).
  • An additional 25% of shares, if closing price per share is greater than $15.00 (20/30 trading days).
  • Next 25% of shares, if closing price per share is greater than $17.50 (20/30 trading days).
  • No early release for the final 25% of shares.

Amended Termination:

• The Amended Business Combination extended the outside date from April 13, 2022, to July 13, 2022 (the “Outside Date”).

Amended Subscription Agreement:

• Global, Gorilla and each of the PIPE Investors amended the Subscription Agreement (each, an “Amended Subscription Agreement”).
• The Amended Subscription Agreement provides for the issuance of one-half of one Class B CVR by Gorilla for each PIPE Subunit purchased by such PIPE Investor (in addition to the Class A CVRs that they will receive in the Transactions under the Business Combination Agreement for each PIPE Share).
• Each Amended Subscription Agreement also amends the Original Subscription Agreement to permit the PIPE Investor to decrease its commitments to purchase PIPE Subunits thereunder; provided that the aggregate commitments to purchase PIPE Subunits shall not be less than 60% of the aggregate of the total number of subscribed PIPE Subunits.

Letter Agreement Amendment:

• Global and Gorilla amended the Letter Agreement (the “Letter Agreement Amendment”) on or prior to the Closing with Gorilla, Global and the Insiders.
• The Letter Agreement Amendment will have:
  • (i) Gorilla assume the rights and obligations of Global with respect to the Gorilla securities issued in the Transactions in replacement of the Global Securities and
  • (ii) the Insiders holding Private Global Shares waive their rights to receive Class A CVRs from Gorilla in the Transactions with respect to such Private Global Shares.

EXTENSION – 4/13/22 – LINK

• At the Meeting, the Company’s shareholders approved the Charter Amendment extending the date by which the Company must consummate the Initial Business Combination from April 13, 2022, to July 13, 2022.
  • The SPAC issued a promissory note of $1,165,339.17 and deposited it into the trust account for the extension
  • 3,801,787 Public Shares were redeemed for $10.10/Share

SUBSEQUENT EVENT – 2/10/22 – LINK

• Global SPAC Partners Co. and Gorilla Technology Group Inc. announced that they have entered into subscription agreements with experienced AI institutional investors to purchase $50.5 million of private placement securities in Global.
  • The PIPE consists of the sale of subunits of Global at a price of $10.10 per subunit, with each PIPE subunit identical to the subunits included as part of the public units sold in Global’s initial public offering.
  • The purchase of the PIPE subunits will be consummated immediately prior to the closing of the business combination, with such PIPE subunits immediately being canceled in connection with the closing of the business combination and in consideration for newly issued Gorilla ordinary shares and warrants. 
• The Lock-Up Agreement Amendment extended the Lock-Up Period to 12 months and provide for an early release of up to 75% of the locked-up Company Ordinary Shares (the “Early Release Securities”) if and to the extent that the following occurs after the Closing:
  • (i) one-third of the Early Release Securities shall be released on the date beginning from and after the 6 month anniversary of the Closing on which the closing price of the Company Ordinary Shares exceeds $12.50 per share (as adjusted for share splits, share capitalizations, share consolidations, subdivisions, share dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30 trading day period;
  • (ii) one-third of the Early Release Securities shall be released on the date beginning from and after the 6 month anniversary of the Closing on which the closing price of the Company Ordinary Shares exceeds $15.00 per share (as adjusted for share splits, share capitalizations, share consolidations, subdivisions, share dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30 trading day period; and
  • (iii) one-third of the Early Release Securities shall be released beginning from and after the 6 month anniversary of the Closing on which the closing price of the Company Ordinary Shares exceeds $17.50 per share (as adjusted for share splits, share capitalizations, share consolidations, subdivisions, share dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30 trading day period.

TRANSACTION

• The transaction values Gorilla at a pro-forma enterprise value of approximately $720 million.
• The transaction is expected to deliver up to $169 million of gross proceeds from cash held in Global’s trust account, subject to redemptions by Global subunit holders.
• The merger closing is conditioned upon Global having at least $50 million in gross cash proceeds at closing from either Global’s trust account or other sources.
• The transaction is expected to close by the end of Q1 2022.

PIPE

• Subsequent Event – 5/18/22 – Global, Gorilla and each of the PIPE Investors amended the Subscription Agreement (each, an “Amended Subscription Agreement”).
  • The Amended Subscription Agreement provides for the issuance of one-half of one Class B CVR by Gorilla for each PIPE Subunit purchased by such PIPE Investor (in addition to the Class A CVRs that they will receive in the Transactions under the Business Combination Agreement for each PIPE Share).
  • Each Amended Subscription Agreement also amends the Original Subscription Agreement to permit the PIPE Investor to decrease its commitments to purchase PIPE Subunits thereunder; provided that the aggregate commitments to purchase PIPE Subunits shall not be less than 60% of the aggregate of the total number of subscribed PIPE Subunits.
• Subsequent Event – On 2/11/22, Global SPAC Partners Co. and Gorilla Technology Group Inc. announced that they have entered into subscription agreements with experienced AI institutional investors to purchase $50.5 million of private placement securities in Global.
  • The PIPE consists of the sale of subunits of Global at a price of $10.10 per subunit, with each PIPE subunit identical to the subunits included as part of the public units sold in Global’s initial public offering.
  • The purchase of the PIPE subunits will be consummated immediately prior to the closing of the business combination, with such PIPE subunits immediately being canceled in connection with the closing of the business combination and in consideration for newly issued Gorilla ordinary shares and warrants. 

LOCK-UP

• Subsequent Event – 5/18/22 – Gorilla Shareholder Lock-Up:
  • Gorilla shareholders receiving 94.12% of shares agreed to 1-year lock-up
  • Applies to 65,000,000 shares, of which 14,000,000 shares to be placed in escrow Subject to early release after 6 months post-merger if:
    • Initial 25% of shares, if closing price per share is greater than $12.50 (20/30 trading days).
    • An additional 25% of shares, if closing price per share is greater than $15.00 (20/30 trading days).
    • Next 25% of shares, if closing price per share is greater than $17.50 (20/30 trading days).
    • No early release for the final 25% of shares.
• Subsequent Event – 2/10/22 – The Lock-Up Agreement Amendment extended the Lock-Up Period to 12 months and provide for an early release of up to 75% of the locked-up Company Ordinary Shares (the “Early Release Securities”) if and to the extent that the following occurs after the Closing:
  • (i) one-third of the Early Release Securities shall be released on the date beginning from and after the 6 month anniversary of the Closing on which the closing price of the Company Ordinary Shares exceeds $12.50 per share (as adjusted for share splits, share capitalizations, share consolidations, subdivisions, share dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30 trading day period;
  • (ii) one-third of the Early Release Securities shall be released on the date beginning from and after the 6 month anniversary of the Closing on which the closing price of the Company Ordinary Shares exceeds $15.00 per share (as adjusted for share splits, share capitalizations, share consolidations, subdivisions, share dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30 trading day period; and
  • (iii) one-third of the Early Release Securities shall be released beginning from and after the 6 month anniversary of the Closing on which the closing price of the Company Ordinary Shares exceeds $17.50 per share (as adjusted for share splits, share capitalizations, share consolidations, subdivisions, share dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30 trading day period.
• Company and Sponsor
  • Six months from the Closing Date or earlier if trading above $12.50 for 20/30 trading days

NOTABLE CONDITIONS TO CLOSING

• The merger closing is conditioned upon Global having at least $50 million in gross cash proceeds at closing from either Global’s trust account or other sources.
• Gorilla and Merger Sub have waived the Minimum Cash of $50 million requirement. – LINK

NOTABLE CONDITIONS TO TERMINATION

• Subsequent Event – 5/18/22 – The Amended Business Combination extended the outside date from April 13, 2022, to July 13, 2022 (the “Outside Date”).
• By either Global or Gorilla if any of the conditions to Closing have not been satisfied or waived by April 13, 2022 (the “Outside Date”)

ADVISORS

• K&L Gates LLP is serving as legal advisor to Gorilla.
• Ellenoff Grossman & Schole, LLP is serving as legal advisor to Global.

MANAGEMENT & BOARD

Executive Officers

Bryant B. Edwards, 65
Chief Executive Officer and Director

From 2018 to 2019, Mr. Edwards was the Chief Operating Officer and Director of Twelve Seas (Nasdaq: BROG), a blank check company with $207 million held in trust that consummated its initial business combination with Brooge Energy Limited, a petroleum and gas company located in the UAE, in December, 2019. Mr. Edwards retired from Latham & Watkins, a global law firm, in 2016, after a 35-year legal career. From 1981 to 2016, Mr. Edwards served as both a practicing corporate and securities attorney, as well as in various management roles building the Latham & Watkins’ practices in Europe (from 2000 to 2008), the Middle East (from 2008 to 2012) and then East Asia (from 2012 to 2016). From 2004 to 2008, Mr. Edwards served as Chair of the European High Yield Association (EHYA) and helped establish the Gulf Bond & Sukuk Association, the trade association representing the Arabian Gulf fixed income market (GBSA) and, from 2008 to 2012, served on its Steering Committee and as Chair of its Regulatory Committee. Additionally, from 2012 to 2016, Mr. Edwards served as Vice-Chair of the Credit Markets Committee of the Asia Securities & Financial Markets Committee (ASIFMA). Mr. Edwards graduated from Brigham Young University with a Bachelor of Arts degree and received his Juris Doctor from the University of Chicago Law School.

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Stephen N. Cannon, 52
Chief Operating Officer and President

Since 2014, Mr. Cannon has been President of Everest Partners Limited, a privately-owned investment firm focused on Asian private investments. From 2017 until 2019, Mr. Cannon was the Chief Financial Officer of Twelve Seas. From 2017 until 2019, Mr. Cannon was the President, Chief Financial Officer and a director of CM Seven Star, a Nasdaq-listed SPAC, sponsored by a leading Chinese private investment firm, which consummated its business combination with Kaixin Auto Holdings in April 2019. From 2014 until 2016, Mr. Cannon was Chief Executive Officer and a director of DT Asia Acquisition Corp, a Nasdaq-listed SPAC, which consummated its business combination with China Direct Lending Corp. in July 2016. From 2010 until 2014, Mr. Cannon was a Partner and Head of China for RedBridge Group Ltd., a boutique merchant banking firm focused on Chinese and Arabian Gulf cross-border investments. From 2009 until 2014, Mr. Cannon was a registered representative of, and senior advisor to, Ackrell Capital. From 2007 until 2010, Mr. Cannon served in various capacities with Hambrecht Asia Acquisition Corp., a Nasdaq-listed SPAC, as a co-founder, initial Chief Financial Officer and a director, and then Vice President of Acquisitions. Hambrecht Asia Acquisition Corp. merged with SGOCO Ltd, a Chinese company, in April 2010. From 2005 until 2008, Mr. Cannon served as a Managing Director of Asian investment banking for WR Hambrecht+Co. Prior to WR Hambrecht + Co., Mr. Cannon worked at ABN AMRO, Donaldson, Lufkin & Jenrette, Smith Barney Shearson and Salomon Brothers. Mr. Cannon currently serves on the board of the Cambodian Hotel Association. Mr. Cannon graduated from the University of Notre Dame with a Bachelor of Arts degree in Economics and a Bachelor of Science degree, majoring in Mechanical Engineering.

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Long Long, 36
Chief Financial Officer

From 2017 to 2019, Mr. Long was Vice President of Twelve Seas sponsors I LLC, sponsor of Twelve Seas (Nasdaq: BROG). From 2006 to 2016, Mr. Long worked for IBM in a variety of Corporate Finance, Audit, and Managerial roles, both within the US and internationally. From 2015 to 2016, Mr. Long served as Finance Controller for IBM China’s Consulting Business Unit and Sales Channels. From 2013 to 2014, Mr. Long served as the Strategy and Planning Manager for IBM China and, from January 2012 to December 2012, as a Senior Finance Analyst for IBM China. From 2010 to 2011, Mr. Long served as Internal Auditor for IBM’s Asia Pacific region and, from 2006 to 2009, as a financial analyst for IBM’s worldwide operations. Mr. Long graduated from Washington University in St. Louis with a Bachelor of Science and Business Administration degree, majoring in Finance and a Bachelor of Science degree, majoring in Electrical Engineering.

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Board of Directors

Jayesh Chandan, 46
Chairman

Since 2019, Mr. Chandan has been the Founder & Managing Partner of KASS Capital, an investment advisory firm that invests globally in the technology industry and provide alternative liquidity solutions to equity investors, debt holders, founders and management teams. Since 2017, Mr. Chandan has also been the Co-Founder and a Partner of Shackleton-Victoria, an investment firm where Mr. Chandan led the firm’s investment in FinLeap, a financial technology accelerator and incubator. Since 2014, Mr. Chandan has also been the Co-Founder and a Director of Mathern Ltd., an investment firm focused on investing in UK companies. From 2010 to 2012, Mr. Chandan was a Co-Founder and Partner at Cortis Capital LLP, a transformation and project management firm focused on global mergers & acquisitions, where he worked on the Minna Airport City, an urban regeneration project in Nigeria. From 2007 to 2008, Mr. Chandan served as the CEO of Invensis (UK) Ltd., a business process outsourcing company. From 2005 to 2007, Mr. Chandan served as Director of Business Development of EXLservice (UK) Ltd., a data analytics company that is now publicly traded on the Nasdaq with approximately $1 billion in revenues and approximately $3 billion in market cap. From 2004 to 2005, Mr. Chandan served as Director of Sales & Strategic Accounts at Exevo (UK) Ltd., a global market research & outsourcing firm that was later acquired by Copal Partners and is now part of Moody’s Corporation. From 1995 to 2004, Mr. Chandan served as the Co-Founder and Executive Director of NPL, an IT services business in Southeast Asia. Mr. Chandan serves as an Advisory Board Member of ConsolFreight LLC, a Fintech FreightTech ecosystem. Mr. Chandan graduated from Madras University, India, with an Engineering Degree, majoring in Computer Sciences.

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Amir Kazmi, 55
Director

Since March 2019, Mr. Kazmi has been a minority owner in and has served as the CEO (until September 2020) and Managing Director — Merchant Banking of Innvotec Limited, a London based investment manager of globally focused venture capital and private equity funds. Mr. Kazmi leads the Merchant Banking division of Innvotec, which includes corporate financings, mergers & acquisitions, and restructuring advisory services. From 2016 to 2019, Mr. Kazmi served as the CEO and Managing Partner of Kerdos Ventures, a full-service corporate finance firm. From 2012 to 2017, Mr. Kazmi was a founder, Head of Sales and board member of Xoomworks Ltd, a procurement consulting and technology company. From 2011 to 2012, Mr. Kazmi was VP for SaaS and Strategic Initiatives for Eka Software Solutions. Previously from 2005 to 2011 he was SVP of Global Operations for Aspect Enterprise Solutions, a developer of risk management and market data tools and software. Mr. Kazmi graduated from the London School of Economics and Political Science with a Bachelor of Science in Economics, Accounting and Finance. Mr Kazmi is a qualified Chartered Accountant and Member of the Institute of Chartered Accountants in England and Wales.

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Marwan Abedin, 46
Director

Since 2017, Mr. Abedin has served as the founder & CEO of Flatrace Investments, a Dubai, UAE based international boutique consulting firm focused on the Gulf region. From 2015 to 2017, Mr. Abedin has served as CEO of an Investment Fund (Investment Company for CP of Dubai) within the Government of Dubai. From April 2016 to March 2017, Mr. Abedin served as a member of the Board of Directors of Noor Bank. From 2011 to 2015, Mr. Abedin served as a member of the Board of Directors of the Dubai Healthcare Authority. From 2012 to 2017, Mr. Abedin served as a member of the Board of Directors for Emaar Properties PJSC as well as Chairman of its Investment Committee. From 2008 to 2011, Mr. Abedin was the Director of Debt Management at the Government of Dubai Department of Finance where he was responsible for the treasury and debt issues related to the public sector entities. Mr. Abedin has executed over $40 billion of transactions in his career representing both the Government of Dubai, UAE as well as the private sector and other government entities. Mr. Abedin graduated from Wake Forest University with a Bachelor of Arts, majoring in Economics and Political Science.

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