Christopher B. Ehrlich - 05 Oct 2021 Form 3 Insider Report for PHOENIX BIOTECH ACQUISITION CORP. (CERO)

Role: CEO and and Secretary, Director, 10%+ Owner
Signature: /s/ Chris Ehrlich
Issuer symbol: CERO
Transactions as of: 05 Oct 2021
Net transactions value: $0
Form type: 3
Filing time: 05 Oct 2021, 18:54:39 UTC
Previous filing: 27 Aug 2021
Next filing: 08 Oct 2021
SEC: View on sec.gov

Key filing fact

Christopher B. Ehrlich filed Form 3 for PHOENIX BIOTECH ACQUISITION CORP. (CERO) on 05 Oct 2021.

Key facts

This page summarizes Christopher B. Ehrlich's Form 3 filing for PHOENIX BIOTECH ACQUISITION CORP. (CERO).
0 reported transactions and 2 derivative rows are listed below.
Filing timestamp: 05 Oct 2021, 18:54.

Change

Previous filing in this sequence was filed on 27 Aug 2021.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Official SEC Source

Ownership activity is grounded in SEC Form 3 disclosures.

See Original Filing

Reported transactions

PBAX holding

Class A common stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 663,263
Date: 05 Oct 2021
Ownership: By Phoenix Biotech Sponsor, LLC
Footnotes: F1, F2

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

PBAX holding Derivative

Class B common stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
Date: 05 Oct 2021
Ownership: By Phoenix Biotech Sponsor, LLC
Underlying class: Class A common stock
Underlying amount: 4,679,125
Exercise price
Footnotes: F2, F3, F4

PBAX holding Derivative

Warrants

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
Date: 05 Oct 2021
Ownership: By Phoenix Biotech Sponsor, LLC
Underlying class: Class A common stock
Underlying amount: 331,632
Exercise price: $11.50
Footnotes: F5, F6, F7

An asterisk next to the price means the reported price is likely invalid.

Explanation of Responses:

Id	Content
F1	These shares are held directly by the issuer's sponsor, Phoenix Biotech Sponsor, LLC (the "Sponsor") and underlie 663,263 units of the issuer that this entity irrevocably committed to purchase.
F2	These shares are held directly by the Sponsor, which managed by the reporting person. As a result, all of the shares may be deemed to be beneficially held by the reporting person. The reporting person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for any other purpose.
F3	The Class B shares will automatically convert into Class A shares at the time of the issuer's initial business combination on a one-for-one basis, subject to certain adjustments described in the issuer's charter documents and have no expiration date.
F4	The shares of Class B common stock include up to 592,875 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.
F5	The warrants will become exercisable at the later of 30 days after the consummation of the issuer's initial business combination or 12 months from the completion of the issuer's initial public offering.
F6	The warrants will expire five years after the consummation of the issuer's initial business combination or earlier upon redemption of all of the issuer's outstanding Class A common shares or the issuer's liquidation.
F7	These warrants are held directly by Phoenix Biotech Sponsor, LLC and underlie 663,263 units of the issuer that this entity irrevocably committed to purchase.

Remarks:

Exhibit 24 - Power of Attorney