Recent Updates — SSAC

SPACSphere Acquisition Corp. and Mobilewalla Holdco, Inc. entered into Amendment No. 1 to their Business Combination Agreement on October 15, 2026. The amendment increases the size of the combined company's board from five to seven directors effective upon closing. The new composition includes two directors designated by Mobilewalla (Anindya Datta and Boris M. Gutin), one by SPACSphere (Bala Padmakumar), and four independent directors to be designated by Mobilewalla in compliance with SEC and Nasdaq requirements. This governance change is part of the ongoing merger process where SPACSphere will domesticate as a Delaware corporation and rename itself Covariate, Inc. The company operates as a special purpose acquisition company (SPAC) focused on effecting a business combination.