SVAC Sponsor LLC - 29 Jul 2021 Form 4 Insider Report for Cyxtera Technologies, Inc.

Role
Director, 10%+ Owner
Signature
/s/ Kenneth R. Marlin, as authorized signatory
Issuer symbol
N/A
Transactions as of
29 Jul 2021
Net transactions value
-$10,084,690
Form type
4
Filing time
02 Aug 2021, 21:34:28 UTC
Next filing
19 Jan 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CYXTQ Class A Common Stock Options Exercise +9,480,713 9,480,713 29 Jul 2021 Direct F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction CYXTQ Class B Common Stock Options Exercise $0 -9,480,713 -100% $0.000000* 0 29 Jul 2021 Class A Common Stock 9,480,713 Direct F1, F2
transaction CYXTQ Warrants Award $10,084,690 -6,723,127 -50% $1.50* 6,723,127 29 Jul 2021 Class A Common Stock 6,723,127 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares of Class B common stock that converted into shares of Class A common stock of Cyxtera Technologies, Inc. (f/k/a Starboard Value Acquisition Corp.) (the "Issuer") in connection with the business combination between the Issuer, Mundo Merger Sub 1, Inc., Mundo Merger Sub 2, LLC, Cyxtera Technologies, Inc., and Mundo Holdings, Inc. (the "Business Combination").
F2 SVAC Sponsor LLC is the direct owner of the securities on this Form 4. SVAC Manager LLC, a Delaware limited liability company, is the Manager of SVAC Sponsor LLC.
F3 The warrants will become exercisable 12 months from the closing of Starboard Value Acquisition Corp.'s initial public offering, which closed on September 14, 2020. The warrants will expire five years after the completion of the Business Combination or earlier upon redemption or liquidation. Each whole warrant will entitle the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share (subject to adjustment). These warrants are being reported as acquired on July 29, 2021 due to the satisfaction of a condition precedent through the closing of the initial business combination.

Remarks:

Starboard Value and Opportunity Master Fund Ltd, Starboard Value and Opportunity S LLC, a managed account of Starboard Value LP, Starboard Value and Opportunity C LP, Starboard Value and Opportunity Master Fund L LP and Starboard X Master Fund Ltd also own a partial pecuniary interest in SVAC Sponsor LLC. Jeffrey C. Smith is a Managing Member, Chief Executive Officer and Chief Investment Officer of Starboard Value LP and is a director of the Issuer. By virtue of his service on the Board of Directors of the Issuer as a representative of Starboard Value LP, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, the reporting person may be deemed to be a director by deputization of the Issuer.