Zhengqi International Holding Ltd 4

4 · Borqs Technologies, Inc. · Filed Aug 22, 2017

Form 4

Period: 2015-10-20

10% Owner

Transactions

Conversion
Ordinary Shares
2017-08-18+49,767→ 2,511,074 total
Other
Ordinary Shares
2017-08-18+2,278,776→ 4,789,850 total
Purchase
Warrant
2015-10-20$10.00/sh+497,671$4,976,710→ 497,671 total
Exercise: $12.00From: 2017-08-18Exp: 2022-08-18→ Ordinary Shares (248,836 underlying)
Purchase
Right to receive Ordinary Shares
2015-10-20$10.00/sh+497,671$4,976,710→ 497,671 total
→ Ordinary Shares (49,767 underlying)
Purchase
Ordinary Shares
2017-08-18$10.40/sh+966,136$10,047,814→ 2,461,307 total
Conversion
Right to receive Ordinary Shares
2017-08-18−497,671→ 0 total
→ Ordinary Shares (49,767 underlying)

Footnotes (4)

[F1]Represents ordinary shares purchased in a private placement in connection with the Business Combination.
[F2]On October 20, 2015, the Reporting Person acquired an aggregate of 497,671 units in a private placement consummated simultaneously with the consummation of the Issuer's initial public offering (the "IPO"), at a price of $10.00 per unit. Each unit consisted of one ordinary share, one right to receive one-tenth of one ordinary share upon consummation of the Issuer's initial business combination, and one warrant to purchase one-half of one ordinary share at an exercise price of $12.00 per full share. The warrants did not become exercisable until the consummation of the Business Combination. None of such warrants have been exercised as of the date of this filing.
[F3]Upon the closing of the Business Combination, 497,671 units purchased by the Reporting Person in a private placement consummated simultaneously with the Issuer's IPO automatically separated into their component ordinary shares, warrants to purchase one-half of one ordinary share, and rights to receive one-tenth of an ordinary share. The resulting 497,671 rights were converted into 49,767 ordinary shares.
[F4]In connection with the Business Combination, the Reporting Person received 2,278,776 ordinary shares, which shares are currently being held in escrow and subject to forfeiture in the event that the Issuer meets certain earn-out conditions during the period of July 1, 2017 to June 30, 2018.

Documents

1 file