Lionheart Equities, LLC 4
4 · BurgerFi International, Inc. · Filed Dec 23, 2020
Insider Transaction Report
Form 4
Lionheart Equities, LLC
10% Owner
Transactions
- Purchase
Common Stock, par value $0.0001 per share underlying Units
2020-12-16$10.00/sh+1,000,000$10,000,000→ 1,000,000 total - Other
Common Stock, par value $0.0001 per share
2020-12-16−1,000,000→ 0 total - Purchase
Warrant underlying Units
2020-12-16+1,000,000→ 1,000,000 totalExercise: $11.50From: 2021-01-16Exp: 2025-12-16→ Common Stock (1,000,000 underlying)
Footnotes (2)
- [F1]Pursuant to the terms of the Amended and Restated Forward Purchase Contract, dated December 16, 2020, between the Reporting Person and the Issuer, the Reporting Person purchased 1,000,000 forward purchase units (the "Units") at $10.00 per unit, in a private placement, for an aggregate purchase price of $10,000,000, in connection with the consummation of the business combination with BurgerFi International, LLC. Each Unit consists of one share of Common Stock, par value $0.0001 per share (the "Shares") and one warrant exercisable to purchase one share of Common Stock at an exercise price of $11.50 per share (the "Warrants"). Mr. Sternberg, as manager of Lionheart Equities has sole voting and dispositive control over the Shares and Warrants.
- [F2]2. Reflects the distribution of the Shares to the Reporting Person's investors who funded the purchase of the Units from the Issuer. No consideration was paid for the distribution.