PENSARE SPONSOR GROUP, LLC 4
4 · American Virtual Cloud Technologies, Inc. · Filed Sep 10, 2021
Insider Transaction Report
Form 4
PENSARE SPONSOR GROUP, LLC
10% Owner
Transactions
- Conversion
Common Stock
2021-09-08$3.45/sh+754,133$2,601,759→ 6,573,133 total - Conversion
Series A convertible debentures
2021-09-08→ 0 totalExercise: $3.45→ Common Stock (754,133 underlying)
Footnotes (2)
- [F1]The debentures were immediately exercisable, subject to a conversion cap that applied until the Issuer obtained the requisite stockholder approval to issue the full amount of underlying shares.
- [F2]The expiration date was the date that the principal amount of the applicable debenture (together with all accrued but unpaid interest thereon) was paid in full, subject to mandatory conversion in whole pursuant to the terms thereof, which mandatory conversion occurred effective September 8, 2021. The entire principal sum amount of the Series A-1 and Series A convertible debentures, together with accrued and unpaid interest thereon, was due and payable on the earlier to occur of certain dates specified in the debentures.