AR CAPITAL ACQUISITION 4
4 · AR CAPITAL ACQUISITION · Filed Oct 12, 2016
Insider Transaction Report
Form 4
Axelrod Andrew
DirectorCEO and Executive Chairman10% Owner
Transactions
- Purchase
Common Stock
2016-10-07+5,947,827→ 7,297,827 total(indirect: See footnote) - Purchase
Private Placement Warrants (right to buy)
2016-10-07+6,550,000→ 6,550,000 total(indirect: See footnote)Exercise: $12.50→ Common Stock (6,550,000 underlying)
Footnotes (4)
- [F1]Pursuant to the terms of the Agreement, dated September 16, 2016 (as amended on September 27, 2016), by and among Axar Master Fund, Ltd., AR Capital, LLC and the Issuer, Axar Master Fund, Ltd. purchased such shares of Common Stock and Private Placement Warrants from AR Capital, LLC for (i) $10.00 in cash and (ii) upon the closing of a business combination by the Issuer, an additional $1,000,000 in cash.
- [F2]The reported securities are held directly by Axar Master Fund, Ltd. Axar Capital Management, LP serves as investment manager to Axar Master Fund, Ltd. Axar GP, LLC is the sole general partner of Axar Capital Management, LP. Mr. Axelrod is the sole member of Axar GP, LLC and is the managing partner, portfolio manager and majority control person of Axar Capital Management, LP. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
- [F3]The warrants will become exercisable 30 days after the completion of the Issuer's initial business combination.
- [F4]The warrants will expire five years after the date on which they first became exercisable, at 5:00 p.m., New York time, or earlier upon redemption or liquidation.