SPACSphere Acquisition Corp. announced an amendment to its previously disclosed Business Combination Agreement with Mobilewalla Holdco, Inc. The filing, dated October 15, 2026, details changes to the board of directors for the combined company, which will be renamed Covariate, Inc. upon completion of the merger.
The amendment increases the size of the combined company’s board from five to seven directors. The board composition will consist of the following members:
- Two directors designated by Mobilewalla: Anindya Datta and Boris M. Gutin. Neither of these directors is required to qualify as independent under SEC or Nasdaq requirements.
- One director designated by SPACSphere: Bala Padmakumar.
- Four independent directors: George Brody, John Garner, and Stephen Markscheid, with a fourth independent director to be appointed prior to the effectiveness of the registration statement on Form S-4.
The Business Combination Agreement, as amended, remains in full force and effect. The transaction involves SPACSphere de-registering in the Cayman Islands and transferring by way of continuation to Delaware to domesticate as a Delaware corporation.
