4//SEC Filing
Granite Peak Resources, LLC 4
Accession 0001213900-23-068155
CIK 0000773717other
Filed
Aug 15, 8:00 PM ET
Accepted
Aug 16, 3:17 PM ET
Size
10.1 KB
Accession
0001213900-23-068155
Insider Transaction Report
Form 4
Granite Peak Resources, LLC
10% Owner
Transactions
- SaleSwap
Common Stock
2023-08-15$5.00/sh+82,659$413,295→ 11,731,991 total - Exercise of In-Money
Convertible Line of Credit
2023-08-15$1.05/sh−5,244,230$5,506,442→ 0 totalExercise: $1.05→ Common Stock (5,244,230 underlying) - Conversion
Common Stock
2023-08-15$1.05/sh+5,244,230$5,506,442→ 11,649,332 total
Footnotes (4)
- [F1]Granite Peak Resources, LLC ("GPR") received the shares in an exchange for a pro-rata equity interest in GPR. The shares are valued at the time of exchange on 8/15/23 as the fair market value ("FMV") as the closing price on the previous date ($5.00) and such equity interest in Granite Peak Resources LLC is valued as the FMV of the American Clean Resources, Inc. (the "Company") shares
- [F2]Granite Peak Resources, LLC ("GPR") is the Issuer's largest shareholder and secured debtholder. The terms of the Line of Credit ("LOC"), as amended, are disclosed in the Issuer's quarter and annual statements filed with the SEC. This conversion is being effected to reduce the amount of the Issuer's debt in preparation for the disclosed merger with the SMS Group (See the Form 8-K filed with the SEC on June 12, 2023.
- [F3]The LOC was originally issued on March 16, 2020, the outstanding balance is convertible at any time after its issuance
- [F4]There is no expiration date per se but the balance of the LOC is due on March 16, 2027
Documents
Issuer
American Clean Resources Group, Inc.
CIK 0000773717
Entity typeother
IncorporatedWY
Related Parties
1- filerCIK 0001770890
Filing Metadata
- Form type
- 4
- Filed
- Aug 15, 8:00 PM ET
- Accepted
- Aug 16, 3:17 PM ET
- Size
- 10.1 KB