Tenzing LLC 4
4 · REVIVA PHARMACEUTICALS HOLDINGS, INC. · Filed Dec 28, 2020
Insider Transaction Report
Form 4
Tenzing LLC
10% Owner
Transactions
- Other
Warrants
2020-12-15−540,500→ 0 totalExercise: $11.50From: 2020-12-14Exp: 2025-12-14→ Common Stock (540,500 underlying)
Footnotes (2)
- [F1]In connection with the consummation of the issuer's initial business combination on December 14, 2020 (the "Business Combination"), Tenzing LLC (the "Reporting Person" or the "Sponsor") agreed to transfer 540,500 warrants to acquire shares of common stock of the issuer to a certain shareholder of the issuer in exchange for such shareholder's agreement to waive and not to exercise any right to redeem or convert shares of the issuer in connection with the Business Combination. Each warrant is exercisable to purchase one share of common stock, subject to adjustment pursuant to the terms of the warrants. The warrants became exercisable on December 14, 2020 and expire at 5:00 p.m., New York City time, on December 14, 2025, or earlier upon their redemption or the liquidation of the issuer pursuant to the terms of the warrants.
- [F2]These securities held by the Sponsor are beneficially owned by Rahul Nayar and Parag Saxena, the issuer's Chairman, and the managing members of the Sponsor, who have joint voting and dispositive power over the securities held by the Sponsor. Mr. Nayar and Mr. Saxena disclaim beneficial ownership over any securities owned by the Sponsor in which they do not have any pecuniary interest.