Item 1.01. Entry into a Material Definitive
Agreement.
As previously disclosed, on
July 21, 2022, InterPrivate III Financial Partners Inc. (“InterPrivate III”) entered into a Second Amended and Restated Agreement
and Plan of Merger, as amended by Amendment No. 1 thereto dated as of December 29, 2022 and as further amended by Amendment No. 2 thereto
dated as of March 30, 2023 (as amended, the “Second A&R Merger Agreement”), by and among InterPrivate III, InterPrivate
III Merger Sub Inc., a wholly owned subsidiary of InterPrivate III (“Merger Sub”), InterPrivate III Merger Sub II LLC, a wholly
owned subsidiary of InterPrivate III (“Merger Sub II”), and Aspiration Partners, Inc. (“Aspiration” and, together
with InterPrivate III, Merger Sub, Merger Sub II and Aspiration, the “Parties”). The transactions contemplated by the Second
A&R Merger Agreement, amended as described below, are referred to as the “Business Combination.”
On April 29, 2023, the Parties
entered into an amendment (the “Amendment”) to the Second A&R Merger Agreement to extend the Outside Date (as defined
in the Second A&R Merger Agreement) from May 1, 2023 to June 2, 2023.
The foregoing description
of the Amendment does not purport to be complete and are qualified in their entirety by the terms and conditions of the Amendment, a copy
of which is included as Exhibit 2.1 hereto and is incorporated herein by reference.
Important Information about the Business Combination and Where
to Find It
The Business Combination will
be submitted to stockholders of InterPrivate III for their consideration. InterPrivate III has filed a registration statement with the
SEC, which includes a preliminary proxy statement / prospectus, which when definitive, will be distributed to InterPrivate III’s
stockholders in connection with InterPrivate III’s solicitation for proxies for the vote by InterPrivate III’s stockholders
in connection with the Business Combination and other matters as described in the registration statement, as well as the prospectus relating
to the offer of the securities to be issued to Aspiration’s stockholders in connection with the completion of the Business Combination.
After the registration statement has been declared effective, InterPrivate III will mail a definitive proxy statement and other relevant
documents to its stockholders as of the record date established for voting on the Business Combination. InterPrivate III’s stockholders
and other interested persons are advised to read the preliminary proxy statement / prospectus and any amendments thereto and, once available,
the definitive proxy statement / prospectus, in connection with InterPrivate III’s solicitation of proxies for its special meeting
of stockholders to be held to approve, among other things, the Business Combination, because these documents will contain important information
about InterPrivate III, Aspiration and the Business Combination. Stockholders may also obtain a copy of the preliminary proxy statement
or definitive proxy statement, once available, as well as other documents filed with the Securities and Exchange Commission (the “SEC”)
regarding the Business Combination and other documents filed with the SEC by InterPrivate III, without charge, at the SEC’s website
located at www.sec.gov or from InterPrivate III’s website at https://ipvspac.com/ipvf or by written request to InterPrivate III
at InterPrivate III Financial Partners, 1350 Avenue of the Americas, 2nd Floor, New York,
NY 10019.
Participants in the Solicitation
InterPrivate III, Aspiration
and certain of their respective directors, executive officers and other members of management and employees may, under SEC rules, be deemed
to be participants in the solicitations of proxies from InterPrivate III’s stockholders in connection with the Business Combination.
Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of InterPrivate III’s stockholders
in connection with the Business Combination is forth in InterPrivate III’s proxy statement / prospectus. You can find more information
about InterPrivate III’s directors and executive officers in InterPrivate III’s final prospectus dated March 4, 2021, filed
with the SEC on March 9, 2021. Additional information regarding the participants in the proxy solicitation and a description of their
direct and indirect interests is included in the proxy statement / prospectus and other relevant materials to be filed with the SEC when
they become available. Stockholders, potential investors and other interested persons should read the proxy statement / prospectus carefully
before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above.
Forward-Looking Statements
This Form 8-K includes “forward-looking
statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform
Act of 1995. Forward-looking statements may generally be identified by the use of words such as “estimate,” “plan,”
“project,” “forecast,” “intend,” “will,” “expect,” “anticipate,”
“believe,” “seek,” “target,” “may,” “should,” “predict,” “potential,”
“seem,” “future,” “outlook” or other similar expressions that predict or indicate future events or
trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements
regarding InterPrivate III’s and Aspiration’s expectations with respect to future performance, estimates and forecasts of
other financial and performance metrics, projections of market opportunity and market share and anticipated financial impacts of the Business
Combination, the satisfaction of the closing conditions to the Business Combination and the timing of the completion of the Business Combination.
These statements are based on various assumptions, whether or not identified herein, and on the current expectations of Aspiration’s
and InterPrivate III’s management and are not predictions of actual performance. These forward-looking statements are provided for
illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance,
a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict
and may differ from assumptions, and such differences may be material. Many actual events and circumstances are beyond the control of
Aspiration and InterPrivate III.
These forward-looking statements
are subject to a number of risks and uncertainties, including the inability to complete the Business Combination or, if InterPrivate III
does not complete the Business Combination, any other business combination; the inability to complete the Business Combination due to
the failure to meet the closing conditions to the Business Combination, including the inability to obtain approval of InterPrivate III’s
stockholders, the inability to consummate the contemplated PIPE financing, the failure to achieve the minimum amount of cash available
following any redemptions by InterPrivate III stockholders, the failure to meet the NYSE listing standards in connection with the consummation
of the Business Combination, or the occurrence of any event, change or other circumstances that could give rise to the termination of
the definitive agreement; costs related to the Business Combination; a delay or failure to realize the expected benefits from the Business
Combination; risks related to disruption of management time from ongoing business operations due to the Business Combination; the impact
of the ongoing COVID-19 pandemic; the risk that Aspiration may not be able to execute its growth strategies or achieve and maintain profitability;
the uncertainty of Aspiration’s projected financial information; changes regarding the development of the sustainability industry,
the markets that Aspiration targets, customer demand and the ability of Aspiration to maintain and enhance its brand; changes in the highly
competitive market in which Aspiration competes, including with respect to its competitive landscape, rapid technological change or regulatory
changes; uncertainties surrounding Aspiration’s expansion of products and service offerings; the ability of Aspiration to maintain
strategic relationships and execute on strategic transactions; extensive governmental regulation and scrutiny applicable to Aspiration
and its subsidiaries, including as a result of certain of its subsidiaries being subject to SEC and FINRA rules and net capital requirements;
the ability of Aspiration to adhere to legal requirements with respect to the protection of personal data and privacy laws; cybersecurity
risks, data loss and other breaches of Aspiration’s network security and the disclosure of personal information; the risk of regulatory
lawsuits or proceedings relating to Aspiration’s products or services; the risk that Aspiration is unable to secure or protect its
intellectual property; the limited experience of Aspiration’s management in operating a public company; underlying assumptions and
data with respect to Aspiration’s key performance indicators and other business metrics that may be (or may be perceived to be)
inaccurate; the risk that Aspiration may not be able to develop and maintain effective internal controls; the outcome of any legal proceedings
that may be instituted against InterPrivate III, Aspiration or any of their respective directors or officers following the announcement
of the Business Combination; the failure to realize anticipated pro forma results and underlying assumptions, including with respect to
estimated stockholder redemptions and purchase price and other adjustments and those factors discussed in InterPrivate III’s annual
report on Form 10-K for the year ended December 31, 2022, under the heading “Risk Factors,” and other documents of InterPrivate
III filed, or to be filed, with the SEC. These risks and uncertainties may be amplified by the ongoing COVID-19 pandemic, which has caused
significant economic uncertainty. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially
from the results implied by these forward-looking statements. There may be additional risks that neither Aspiration nor InterPrivate III
presently know or that Aspiration and InterPrivate III currently believe are immaterial that could also cause actual results to differ
from those contained in the forward-looking statements. In addition, forward-looking statements reflect Aspiration’s and InterPrivate
III’s expectations, plans or forecasts of future events and views as of the date of this Form 8-K. Aspiration and InterPrivate III
anticipate that subsequent events and developments will cause Aspiration’s and InterPrivate III’s assessments to change. However,
while Aspiration and InterPrivate III may elect to update these forward-looking statements at some point in the future, Aspiration and
InterPrivate III specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing
Aspiration’s and InterPrivate III’s assessments as of any date subsequent to the date of this Form 8-K. Accordingly, undue
reliance should not be placed upon the forward-looking statements.
No Offer or Solicitation
This Form 8-K shall not constitute
a proxy statement or the solicitation of a proxy, consent or authorization with respect to any securities or in respect of the Business
Combination. This Form 8-K shall also not constitute an offer to sell or the solicitation of an offer to buy or subscribe for any securities
or a solicitation of any vote of approval, nor shall there be any sale, issuance or transfer of securities in any states or jurisdictions
in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such
jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities
Act.
