3//SEC Filing
Authentic Equity Sponsor LLC 3
Accession 0001213900-21-002322
CIK 0001827392other
Filed
Jan 13, 7:00 PM ET
Accepted
Jan 14, 8:01 PM ET
Size
13.7 KB
Accession
0001213900-21-002322
Insider Transaction Report
Form 3
Authentic Equity Sponsor LLC
10% Owner
Holdings
Class B ordinary shares
→ Class A ordinary shares (6,900,000 underlying)
Footnotes (3)
- [F1]As described in the issuer's registration statement on Form S-1 (File No. 333-251575) under the heading "Description of Securities-Founder Shares", the Class B ordinary shares, par value $0.0001, will automatically convert into Class A ordinary shares, par value $0.0001, of the issuer at the time of the issuer's initial business combination transaction on a one-for-one basis, subject to adjustment for share splits, share capitalizations, reorganizations, recapitalizations and the like, and certain anti-dilution rights and have no expiration date.
- [F2]The Class B ordinary shares owned by the reporting person include up to 750,000 shares that are subject to forfeiture to the extent the underwriters of the initial public offering of the issuer's securities do not exercise in full their over-allotment option as described in the issuer's registration statement.
- [F3]This Form 3 is being filed by Authentic Equity Sponsor LLC, sponsor of the issuer (the "Sponsor"). There are three managers of the Sponsor's board of managers. Each manager has one vote, and the approval of a majority is required to approve an action of the Sponsor. Under the so-called "rule of three", if voting and dispositive decisions regarding an entity's securities are made by three or more individuals, and a voting or dispositive decision requires the approval of a majority of those individuals, then none of the individuals is deemed a beneficial owner of the entity's securities. This is the situation with regard to the Sponsor. Based upon the foregoing analysis, no individual manager of the Sponsor exercises voting or dispositive control over any of the securities held by the Sponsor, even those in which he directly holds a pecuniary interest. Accordingly, none of them will be deemed to have or share beneficial ownership of such shares.
Issuer
Authentic Equity Acquisition Corp.
CIK 0001827392
Entity typeother
IncorporatedDE
Related Parties
1- filerCIK 0001827393
Filing Metadata
- Form type
- 3
- Filed
- Jan 13, 7:00 PM ET
- Accepted
- Jan 14, 8:01 PM ET
- Size
- 13.7 KB