Stingray Group Inc. 4
4 · SINGING MACHINE CO INC · Filed May 25, 2022
Insider Transaction Report
Form 4
Stingray Group Inc.
Other
Transactions
- Award
Common Stock, $0.01 par value per share ("Common Shares")
2022-05-24$4.00/sh+100,000$400,000→ 322,223 total
Footnotes (4)
- [F1]On May 24, 2022, Stingray Group Inc., a Canadian corporation ("Stingray"), purchased from the Issuer 100,000 Common Shares at a purchase price of $4.00 per Common Share in connection with the Issuer's registered public offering.
- [F2]In addition to Stingray, this Form 4 is being jointly filed by Eric Boyko, a Canadian citizen ("Boyko"). As of May 1, 2022, Boyko, indirectly, controlled approximately 57.45% of the combined voting power of Stingray's outstanding shares.
- [F3]After giving effect to the transactions reported on this Form 4, Stingray directly beneficially owns 322,223 Common Shares and 222,223 warrants to purchase Common Shares ("Warrants"). Boyko indirectly beneficially owns 322,223 Common Shares (excluding Warrants). The amounts herein reflect a 1-for-30 reverse stock split effected by the Issuer with respect to the Common Shares.
- [F4]Each reporting person states that neither the filing of this statement nor anything herein shall be deemed an admission that such person is, for the purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise, the beneficial owner of any securities covered by this statement. Boyko disclaims beneficial ownership of the securities covered by this statement, except to the extent of the pecuniary interest of such person in such securities.