ACE Convergence Acquisition LLC 4
4 · ACE Convergence Acquisition Corp. · Filed Oct 14, 2021
Insider Transaction Report
Form 4
ACE Convergence Acquisition LLC
Director10% Owner
Transactions
- Other
Class B ordinary shares
2021-10-13−1,678,500→ 3,916,500 total→ Class A ordinary shares (1,678,500 underlying)
Footnotes (3)
- [F1]As described in the issuer's Registration Statement on Form S-1, as amended (File No. 333-239716) (the "Form S-1") under the heading "Description of Securities--Founder Shares", the Class B ordinary shares, par value $0.0001 per share, of the issuer ("Class B Ordinary Shares") will automatically convert into Class A ordinary shares, par value $0.0001 per share, of the issuer ("Class A Ordinary Shares") at the time of the issuer's initial business combination, or earlier at the option of the holder, on a one-for-one basis, subject to adjustment for share sub-divisions, share dividends, rights issuances, consolidations, reorganizations, recapitalizations and the like and certain anti-dilution rights, and have no expiration date.
- [F2]On October 13, 2021, the reporting person distributed 1,678,500 Class B Ordinary Shares to one of its members in full redemption of such member's Class A interests in the reporting person.
- [F3]The reporting person, in whose name the securities reported herein are held, is managed by its manager, Behrooz L. Abdi. Mr. Abdi may be deemed to beneficially own shares held by the reporting person by virtue of his control over the reporting person. Mr. Abdi disclaims beneficial ownership of the shares held by the reporting person, except to the extent of his pecuniary interest therein.