Business Context and Reporting Period
This Form 8-K, dated June 16, 2022, reports the closing of the business combination between Virgin Group Acquisition Corp. II and Grove Collaborative, Inc. Following the transaction, Grove became a wholly-owned subsidiary, and the parent company changed its name to Grove Collaborative Holdings, Inc. The company is listed on the New York Stock Exchange under the symbol GROV.
Key Financial Metrics
The filing text does not provide specific financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity figures. This report focuses on the corporate event of the merger closing rather than periodic financial performance data.
Material Changes
- Corporate Structure: Grove Collaborative, Inc. is now a wholly-owned subsidiary of the registrant.
- Corporate Name: The registrant's name changed from "Virgin Group Acquisition Corp. II" to "Grove Collaborative Holdings, Inc."
- Securities: Class A common stock and redeemable warrants (GROV.WS) are registered on the NYSE.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on future outlook, or specific risk factors. The document serves as a Regulation FD disclosure regarding the closing of the previously announced business combination. No unusual items or contingencies are detailed in the text provided.
Investor Verification Checklist
- Verify the exact terms of the business combination and the exchange ratio used in the merger.
- Confirm the post-transaction capital structure and the number of shares outstanding.
- Review the press release (Exhibit 99.1) for details on the transaction's financial impact not included in this summary.
- Check subsequent filings for the first set of consolidated financial statements reflecting Grove's operations.