Global Defense & National Security Systems, Inc. 4
4 · Global Defense & National Security Systems, Inc. · Filed Oct 19, 2015
Insider Transaction Report
Form 4
Perl Andrew Damian
Director10% Owner
Transactions
- Purchase
Option to Purchase Common Stock
2015-10-17$10.61/sh+0$0→ 0 total(indirect: See Footnote)Exercise: $10.61→ Common Stock
Footnotes (2)
- [F1]Pursuant to an Amended and Restated Backstop Common Stock Purchase Agreement, dated as of October 17, 2015, which amends the terms to the Backstop Common Stock Purchase Agreement, dated as of October 9, 2015, which was reported on a Form 4 filed on October 13, 2015. The option can only be exercised in connection with the closing of the business combination, and only in the event, and to the extent, the Issuer will not be able to meet the Threshold Cash Amount. The "Threshold Cash Amount" means $20,000,000 in cash available to the Company from (1) the Company's Trust Account (as defined in the Company's Amended and Restated Certificate of Incorporation) at the closing of the business combination between the Issuer and STG Group, Inc. following payment in full to the Company's stockholders who have requested to be redeemed in connection with the closing of the business combination, and (2) the payment of the aggregate purchase price for the option to purchase.
- [F2]The option to purchase is held by Global Defense & National Security Holdings LLC, a limited liability company indirectly controlled by Mr. Perl.