4//SEC Filing
PENSARE SPONSOR GROUP, LLC 4
Accession 0001104659-20-045305
CIK 0001704760other
Filed
Apr 8, 8:00 PM ET
Accepted
Apr 9, 9:33 PM ET
Size
9.2 KB
Accession
0001104659-20-045305
Insider Transaction Report
Form 4
PENSARE SPONSOR GROUP, LLC
10% Owner
Transactions
- Purchase
Series A convertible debentures
2020-04-07Exercise: $3.45From: 2020-04-07→ Common Stock (2,559,586 underlying) - Purchase
Warrant
2020-04-07+883,057→ 883,057 totalExercise: $0.01From: 2020-04-07Exp: 2025-04-07→ Common Stock (883,057 underlying)
Footnotes (2)
- [F1]The reported securities are included within 8,830.57 units of securities (the "Units") purchased by the reporting person from the Issuer for $1,000 per Unit. Each Unit consists of (i) $1,000 in principal amount of the Company's Series A convertible debentures and (ii) one warrant to purchase 100 shares of the Company's Common Stock, par value $0.001 per share, at an exercise price of $0.01 per whole share. The securities are held directly by Pensare Sponsor Group, LLC and indirectly by Darrell J. Mays, who is the managing member of Pensare Sponsor Group, LLC. Lawrence E. Mock, Jr., Dr. Robert Willis and John Foley hold economic interests in Pensare Sponsor Group, LLC and pecuniary interests in the securities held by Pensare Sponsor Group, LLC. Each of Messrs. Mays, Mock and Foley and Dr. Willis disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.
- [F2]The expiration date is the date that the principal amount of the Series A convertible debenture (together with all accrued but unpaid interest thereon) is paid in full, subject to mandatory conversion in whole pursuant to the terms thereof. The entire principal sum amount of the Series A convertible debenture, together with accrued and unpaid interest thereon, is due and payable on the earlier to occur of (i) such date, commencing on or after October 7, 2022, as the holder, at its sole option, upon not less than 30 days' prior written notice to the Issuer, demands payment thereof and (ii) the occurrence of a Change in Control (as defined therein).
Documents
Issuer
American Virtual Cloud Technologies, Inc.
CIK 0001704760
Entity typeother
IncorporatedDE
Related Parties
1- filerCIK 0001713062
Filing Metadata
- Form type
- 4
- Filed
- Apr 8, 8:00 PM ET
- Accepted
- Apr 9, 9:33 PM ET
- Size
- 9.2 KB