4//SEC Filing
RIGAUD EDWIN 4
Accession 0001213900-24-016228
CIK 0001698113other
Filed
Feb 21, 7:00 PM ET
Accepted
Feb 22, 5:28 PM ET
Size
17.6 KB
Accession
0001213900-24-016228
Insider Transaction Report
Form 4
RIGAUD EDWIN
DirectorChairman and CEO10% Owner
Transactions
- Other
Convertible Notes
2024-02-22$250000.00/sh→ 0 total→ Class A Common Stock - Other
Convertible Notes
2024-02-22$400000.00/sh→ 0 total→ Class A Common Stock - Disposition to Issuer
Class A Common Stock
2024-02-22−277,605→ 0 total - Disposition to Issuer
Class A Common Stock
2024-02-22−914,143→ 0 total(indirect: By Sponsor) - Disposition to Issuer
Warrant (Right to Purchase)
2024-02-22−595,238→ 0 totalExercise: $0.42→ Class A Common Stock (595,238 underlying) - Disposition to Issuer
Warrant (Right to Purchase)
2024-02-22−80,000→ 0 totalExercise: $0.50→ Class A Common Stock (80,000 underlying)
Footnotes (4)
- [F1]On December 26, 2023, PARTS iD, Inc. (the "Issuer") and certain subsidiary PARTS iD, LLC (collectively, with the Issuer, the "Debtors"), filed voluntary petitions in the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court") seeking relief under the provisions of Chapter 11 of Title 11 of the United States Bankruptcy Code. On February 5, 2024, the Bankruptcy Court entered an order confirming the Debtors' Second Amended Joint Prepackaged Chapter 11 Plan of Reorganization (as amended, modified or supplemented from time to time, the "Plan"), and on February 22, 2024 (the "Effective Date"), the Plan became effective pursuant to its terms and the Debtors emerged from bankruptcy.
- [F2]On the Effective Date, all of the Company's previously outstanding shares of Class A common stock, including options, warrants, rights, restricted stock units or other securities or agreements to acquire such common stock, were cancelled and extinguished in accordance with the Plan approved by the Bankruptcy Court.
- [F3]Such shares of Class A common stock were held by Legacy Acquisition Sponsor I LLC of which Mr. Rigaud was the managing member and may be deemed to have beneficial ownership of such shares; however, Mr. Rigaud disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
- [F4]In accordance with the Plan approved by the Bankruptcy Court, as a holder of Subordinated Secured Note Claims (as defined in the Plan), Mr. Rigaud will be entitled to receive two (2) of the following, provided, however, that no holder of a Subordinated Secured Note Claim will receive, in the aggregate, more than 100% of amount of such holder's Subordinated Secured Note Claim: (A) payment in cash of 55% of such Subordinated Secured Note Claim, (B) such holder's pro rata share from the net recoveries (after payments of fees, litigation financing and taxes) from the Litigation Proceeds (as defined in the Plan) and (C) payment in cash upon the achievement of an EBITDA target to be agreed between the Plan Sponsor (as defined in the Plan) and the Debtors.
Documents
Issuer
PARTS iD, Inc.
CIK 0001698113
Entity typeother
Related Parties
1- filerCIK 0001179761
Filing Metadata
- Form type
- 4
- Filed
- Feb 21, 7:00 PM ET
- Accepted
- Feb 22, 5:28 PM ET
- Size
- 17.6 KB