4//SEC Filing
ANGELO GORDON & CO., L.P. 4
Accession 0000899243-22-016156
CIK 0001670349other
Filed
May 1, 8:00 PM ET
Accepted
May 2, 6:27 PM ET
Size
24.1 KB
Accession
0000899243-22-016156
Insider Transaction Report
Form 4
ANGELO GORDON & CO LP/NY
10% Owner
Transactions
- Sale
Series A Redeemable Convertible Preferred Stock
2022-04-29$1245.66/sh−5,198$6,474,941→ 0 total(indirect: See Footnote)Exercise: $23.34From: 2020-05-24→ Class A Common Stock (317,004 underlying) - Sale
Convertible Senior Secured (Third Lien) PIK Note
2022-04-29$21523327.20/sh−21,454,672.2$461,775,929,729,344→ 0 total(indirect: See Footnote)Exercise: $7.00From: 2021-09-13Exp: 2026-06-05→ Class A Common Stock (3,064,953 underlying) - Sale
Convertible Senior Secured (Third Lien) PIK Note
2022-04-29$21523327.20/sh−21,454,672.2$461,775,929,729,344→ 0 total(indirect: See Footnote)Exercise: $4.38From: 2021-09-13Exp: 2026-06-05→ Class A Common Stock (4,903,925 underlying) - Sale
Warrants for Class A Common Stock (Right to Buy)
2022-04-29−2,666,669→ 0 total(indirect: See Footnote)Exercise: $26.81From: 2019-11-24Exp: 2025-05-24→ Class A Common Stock (761,905 underlying)
Baumgarten Joshua
10% Owner
Transactions
- Sale
Series A Redeemable Convertible Preferred Stock
2022-04-29$1245.66/sh−5,198$6,474,941→ 0 total(indirect: See Footnote)Exercise: $23.34From: 2020-05-24→ Class A Common Stock (317,004 underlying) - Sale
Convertible Senior Secured (Third Lien) PIK Note
2022-04-29$21523327.20/sh−21,454,672.2$461,775,929,729,344→ 0 total(indirect: See Footnote)Exercise: $7.00From: 2021-09-13Exp: 2026-06-05→ Class A Common Stock (3,064,953 underlying) - Sale
Convertible Senior Secured (Third Lien) PIK Note
2022-04-29$21523327.20/sh−21,454,672.2$461,775,929,729,344→ 0 total(indirect: See Footnote)Exercise: $4.38From: 2021-09-13Exp: 2026-06-05→ Class A Common Stock (4,903,925 underlying) - Sale
Warrants for Class A Common Stock (Right to Buy)
2022-04-29−2,666,669→ 0 total(indirect: See Footnote)Exercise: $26.81From: 2019-11-24Exp: 2025-05-24→ Class A Common Stock (761,905 underlying)
SCHWARTZ ADAM R
10% Owner
Transactions
- Sale
Series A Redeemable Convertible Preferred Stock
2022-04-29$1245.66/sh−5,198$6,474,941→ 0 total(indirect: See Footnote)Exercise: $23.34From: 2020-05-24→ Class A Common Stock (317,004 underlying) - Sale
Convertible Senior Secured (Third Lien) PIK Note
2022-04-29$21523327.20/sh−21,454,672.2$461,775,929,729,344→ 0 total(indirect: See Footnote)Exercise: $7.00From: 2021-09-13Exp: 2026-06-05→ Class A Common Stock (3,064,953 underlying) - Sale
Warrants for Class A Common Stock (Right to Buy)
2022-04-29−2,666,669→ 0 total(indirect: See Footnote)Exercise: $26.81From: 2019-11-24Exp: 2025-05-24→ Class A Common Stock (761,905 underlying) - Sale
Convertible Senior Secured (Third Lien) PIK Note
2022-04-29$21523327.20/sh−21,454,672.2$461,775,929,729,344→ 0 total(indirect: See Footnote)Exercise: $4.38From: 2021-09-13Exp: 2026-06-05→ Class A Common Stock (4,903,925 underlying)
AG Energy Funding, LLC
10% Owner
Transactions
- Sale
Convertible Senior Secured (Third Lien) PIK Note
2022-04-29$21523327.20/sh−21,454,672.2$461,775,929,729,344→ 0 total(indirect: See Footnote)Exercise: $7.00From: 2021-09-13Exp: 2026-06-05→ Class A Common Stock (3,064,953 underlying) - Sale
Convertible Senior Secured (Third Lien) PIK Note
2022-04-29$21523327.20/sh−21,454,672.2$461,775,929,729,344→ 0 total(indirect: See Footnote)Exercise: $4.38From: 2021-09-13Exp: 2026-06-05→ Class A Common Stock (4,903,925 underlying) - Sale
Series A Redeemable Convertible Preferred Stock
2022-04-29$1245.66/sh−5,198$6,474,941→ 0 total(indirect: See Footnote)Exercise: $23.34From: 2020-05-24→ Class A Common Stock (317,004 underlying) - Sale
Warrants for Class A Common Stock (Right to Buy)
2022-04-29−2,666,669→ 0 total(indirect: See Footnote)Exercise: $26.81From: 2019-11-24Exp: 2025-05-24→ Class A Common Stock (761,905 underlying)
AG PARTNERS LP
10% Owner
Transactions
- Sale
Series A Redeemable Convertible Preferred Stock
2022-04-29$1245.66/sh−5,198$6,474,941→ 0 total(indirect: See Footnote)Exercise: $23.34From: 2020-05-24→ Class A Common Stock (317,004 underlying) - Sale
Convertible Senior Secured (Third Lien) PIK Note
2022-04-29$21523327.20/sh−21,454,672.2$461,775,929,729,344→ 0 total(indirect: See Footnote)Exercise: $7.00From: 2021-09-13Exp: 2026-06-05→ Class A Common Stock (3,064,953 underlying) - Sale
Warrants for Class A Common Stock (Right to Buy)
2022-04-29−2,666,669→ 0 total(indirect: See Footnote)Exercise: $26.81From: 2019-11-24Exp: 2025-05-24→ Class A Common Stock (761,905 underlying) - Sale
Convertible Senior Secured (Third Lien) PIK Note
2022-04-29$21523327.20/sh−21,454,672.2$461,775,929,729,344→ 0 total(indirect: See Footnote)Exercise: $4.38From: 2021-09-13Exp: 2026-06-05→ Class A Common Stock (4,903,925 underlying)
Footnotes (5)
- [F1]These securities were held directly by AG Energy Funding, LLC ("AG Energy Funding") for which Angelo, Gordon & Co, L.P. ("Angelo Gordon") is the manager. Josh Baumgarten and Adam Schwartz are the managing members of AG GP LLC ("AG GP"), which is the sole general partner of Angelo Gordon. Each of Messrs. Baumgarten and Schwartz, and AG GP may be deemed to control Angelo Gordon. Each of Angelo Gordon, AG GP and Messrs. Baumgarten and Schwartz disclaim beneficial ownership of the securities reported herein except to the extent of its or his pecuniary interest therein and this report shall not be deemed to be an admission that any of Angelo Gordon, AG GP, Mr. Baumgarten or Mr. Schwartz is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
- [F2]AG Energy Funding may have converted the convertible note during its term into a number of shares of Class A Common Stock of U.S. Well Services, Inc. (the "Common Stock") equal to the outstanding principal and accrued but unpaid interest divided by a conversion price of $7, subject to adjustment. If the convertible note is outstanding as of maturity, the convertible note will automatically be converted into shares of Common Stock using the volume weighted average price. The convertible note was not able to be converted unless the Issuer filed a listing application with the Nasdaq Capital Market and that application had been approved. The convertible note may not be converted if the conversion would result in violations of Nasdaq Capital Market's change of control or certain other Nasdaq rules.
- [F3]The price includes the payment for partially accrued in-kind interest or dividends.
- [F4]AG Energy Funding may convert the convertible note during its term into a number of shares of Class A Common Stock of Common Stock equal to the outstanding principal and accrued but unpaid interest divided by a conversion price of $4.38, subject to adjustment. If the convertible note is outstanding as of maturity, the convertible note will automatically be converted into shares of Common Stock using the volume weighted average price. The convertible note may not be converted if the conversion would result in violations of Nasdaq Capital Market's change of control or shareholder approval limitations.
- [F5]The Series A Redeemable Convertible Preferred Stock has no expiration date.
Issuer
U.S. WELL SERVICES, INC.
CIK 0001670349
Entity typeother
IncorporatedDE
Related Parties
1- filerCIK 0000860662
Filing Metadata
- Form type
- 4
- Filed
- May 1, 8:00 PM ET
- Accepted
- May 2, 6:27 PM ET
- Size
- 24.1 KB