Item 8.01. Other Events.
29,379,643 Ordinary Shares were redeemed in connection with the
Extraordinary General Meeting.
Forward-Looking Statements
This Current Report on Form 8-K contains
forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, that are based on beliefs and assumptions and on information currently available to COVA
and ECARX, and also contains certain financial forecasts and projections.
All statements other than statements of historical
fact contained in this communication are forward-looking statements. In some cases, you can identify forward-looking statements by the
following words: “may,” “will,” “could,” “would,” “should,” “expect,”
“intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,”
“project,” “potential,” “continue,” “ongoing,” “target,” “seek”
or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although
not all forward-looking statements contain these words. These statements are based upon estimates and forecasts and reflect the views,
assumptions, expectations, and opinions of COVA and ECARX, which involve risks, uncertainties and other factors that may cause actual
results, levels of activity, performance or achievements to be materially different from those expressed or implied by these forward-looking
statements. Any such estimates, assumptions, expectations, forecasts, views or opinions, whether or not identified in this communication,
should be regarded as preliminary and for illustrative purposes only and should not be relied upon as being necessarily indicative of
future results. Although each of COVA and ECARX believes that it has a reasonable basis for each forward-looking statement contained in
this communication, each of COVA and ECARX caution you that these statements are based on a combination of facts and factors currently
known and projections of the future, which are inherently uncertain. In addition, there are risks and uncertainties described in the proxy
statement/prospectus on Form F-4 relating to the proposed transaction filed by ECARX with the SEC and other documents filed by COVA or
ECARX from time to time with the SEC. These filings may identify and address other important risks and uncertainties that could cause
actual events and results to differ materially from those expressed or implied in the forward-looking statements. Neither COVA nor ECARX
can assure you that the forward-looking statements in this communication will prove to be accurate. These forward-looking statements are
subject to a number of risks and uncertainties, such as the occurrence of any event that could give rise to the termination of the merger
agreement, the ability to recognize the anticipated benefits of the business combination, costs related to the transaction, the impact
of the global COVID-19 pandemic, the risk that the transaction disrupts current plans and operations as a result of the announcement and
consummation of the transaction, the outcome of any potential litigation, government or regulatory proceedings and other risks and uncertainties,
including those included under the heading “Risk Factors” in the registration statement on Form F-4 filed by ECARX with the
SEC and those included under the heading “Risk Factors” in the final prospectus of COVA dated February 4, 2021 and in its
subsequent filings with the SEC. In light of the significant uncertainties in these forward-looking statements, you should not regard
these statements as a representation or warranty by COVA or ECARX, their respective directors, officers or employees or any other person
that COVA or ECARX will achieve their objectives and plans in any specified time frame, or at all. The forward-looking statements in this
communication represent the views of COVA and ECARX as of the date of this communication. Subsequent events and developments may cause
those views to change. However, while COVA and ECARX may update these forward-looking statements in the future, COVA and ECARX specifically
disclaim any obligation to do so, except to the extent required by applicable law. You should, therefore, not rely on these forward-looking
statements as representing the views of COVA and ECARX as of any date subsequent to the date of this communication. Accordingly, undue
reliance should not be placed upon the forward-looking statements.