3//SEC Filing
Progress Capital I, LLC 3
Accession 0001213900-21-007577
CIK 0001833213other
Filed
Feb 7, 7:00 PM ET
Accepted
Feb 8, 9:52 PM ET
Size
10.5 KB
Accession
0001213900-21-007577
Insider Transaction Report
Form 3
Arslanian David J
President10% Owner
Holdings
- (indirect: See footnote)
Class B Common Stock,
→ Class A Common Stock (3,593,750 underlying)
Schlichting Warren
DirectorChief Executive Officer10% Owner
Holdings
- (indirect: See footnote)
Class B Common Stock,
→ Class A Common Stock (3,593,750 underlying)
Gallagher Richard F
Chief Financial Officer10% Owner
Holdings
- (indirect: See footnote)
Class B Common Stock,
→ Class A Common Stock (3,593,750 underlying)
Progress Capital I, LLC
10% Owner
Holdings
- (indirect: See footnote)
Class B Common Stock,
→ Class A Common Stock (3,593,750 underlying)
Footnotes (3)
- [F1]As described in the issuer's registration statement on Form S-1 (File No. 333-252084) (the "Registration Statement") under the heading "Description of Securities - Founder Shares", Class B common stock will automatically convert into Class A common stock at the time of the issuer's initial business combination, on a one-for-one basis, subject to certain adjustments described therein, and have no expiration date.
- [F2]The shares of Class B common stock held directly by Progress Capital I LLC (the "Sponsor") were acquired pursuant to a subscription agreement by and between the Sponsor and the issuer. The Class B ordinary shares owned by the Sponsor include up to 468,750 shares that are subject to forfeiture in the event the underwriters of the issuer's initial public offering do not exercise in full their over-allotment option, as described in the Registration Statement.
- [F3]Warren Schlichting, Chief Executive Officer and Director of the issuer, Richard Gallagher, Chief Financial Officer of the issuer, and David Arslanian, President of the issuer, are the managing members of the Sponsor and share voting and investment discretion with respect to the securities held directly by the Sponsor. As such, Messrs. Schlichting, Gallagher and Arslanian may be deemed to have indirect beneficial ownership of Class B ordinary shares held directly by the Sponsor. Messrs. Schlichting, Gallagher and Arslanian disclaim any beneficial ownership of the reported shares other than to the extent of any pecuniary interest they may have therein.
Documents
Issuer
Progress Acquisition Corp.
CIK 0001833213
Entity typeother
IncorporatedDE
Related Parties
1- filerCIK 0001833212
Filing Metadata
- Form type
- 3
- Filed
- Feb 7, 7:00 PM ET
- Accepted
- Feb 8, 9:52 PM ET
- Size
- 10.5 KB