Atlantic Avenue Partners GP LLC 4
4 · Atlantic Avenue Acquisition Corp · Filed Nov 17, 2020
Insider Transaction Report
Form 4
Nayyar Ashok
DirectorChief Executive Officer10% Owner
Transactions
- Disposition to Issuer
Class B Common Stock, par value $0.0001 per share
2020-11-16−750,000→ 3,815,000 total(indirect: Footnotes)→ Class A common stock, par value $0.0001 (750,000 underlying)
Footnotes (5)
- [F1]This form is being filed by the following reporting persons: Ashok Nayyar, Atlantic Avenue Partners LLC (the "Sponsor") and Atlantic Avenue Partners GP LLC (the "GP" and, together with the Sponsor and Ashok Nayyar, the "Reporting Persons"). Because of the relationships among the Reporting Persons, the Reporting Persons may be deemed to beneficially own the securities reported herein to the extent of their respective pecuniary interests. Each Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Person's pecuniary interest therein, if any.
- [F2]The shares of Class B Common Stock, par value $0.0001 (the "Class B Shares"), of Atlantic Avenue Acquisition Corp (the "Issuer") have no expiration date and are convertible into shares of Class A Common Stock, par value $0.0001 per share, of the Issuer, as described under the heading "Description of Securities-Founder Shares" in the Issuer's registration statement on Form S-1 (File No. 333-248782).
- [F3]The Sponsor forfeited 750,000 Class B Shares to the Issuer for no consideration, which was exempted pursuant to Rule 16b-3(e) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), in connection with the underwriters' election not to exercise the over-allotment option.
- [F4]The managing member of the Sponsor is the GP, and Mr. Nayyar is the sole and managing member of the GP.
- [F5]Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), this filing shall not be deemed an admission that the Reporting Persons are, for purposes of Section 16 of the Exchange Act or otherwise, the beneficial owners of any equity securities in excess of their respective pecuniary interests..