NAVIGATION CAPITAL PARTNERS, INC. 4
4 · American Virtual Cloud Technologies, Inc. · Filed Oct 4, 2021
Insider Transaction Report
Form 4
NAVIGATION CAPITAL PARTNERS, INC.
10% Owner
Transactions
- Conversion
Common Stock
2021-09-08+2,104,097→ 2,104,097 total(indirect: Please see footnotes) - Conversion
Series A Convertible Debentures
2021-09-08→ 0 total(indirect: Please see footnotes)→ Common Stock (2,104,097 underlying) - Conversion
Series A-1 Convertible Debentures
2021-09-08→ 0 total(indirect: Please see footnotes)→ Common Stock (5,512,145 underlying) - Conversion
Common Stock
2021-09-08+5,512,145→ 7,616,242 total(indirect: Please see footnotes)
Footnotes (2)
- [F1]On September 8, 2021, the unpaid principal amount (together with all accrued but unpaid interest thereon) of the Series A Convertible Debentures and Series A-1 Convertible Debentures (the "Debentures") automatically converted into shares of the Issuer's common stock, par value $0.001 per share (the "Common Stock") at a conversion price of $3.45 (the "Mandatory Conversions"). The Mandatory Conversions were triggered by the closing price of the Common Stock on the Nasdaq Capital Market exceeding $6.00 for 40 trading days within a consecutive 60 trading day-period. This Form 4 is being filed late due to administrative error.
- [F2]The reported securities are directly held by Navigation Capital Partners SOF I, LLC, a direct wholly-owned subsidiary of SPAC Opportunity Fund I, L.P. ("SPAC Opps"), an entity controlled by Navigation Capital Partners, Inc. ("Navigation Capital" and, together with SPAC Opps, the "Reporting Persons"). As a result, the Reporting Persons may be deemed to indirectly beneficially own the reported securities. The Reporting Persons each disclaim beneficial ownership of such securities except to the extent of their pecuniary interest therein.