Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
transaction | SIER | Class B common stock | Disposed to Issuer | $0 | -1.13M | -13.04% | $0.00 | 7.5M | Oct 29, 2021 | Class A common stock | 1.13M | Direct | F1, F2 |
Id | Content |
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F1 | As described in the Issuer's registration statement on Form S-1 (File No. 333-253479) under the heading "Description of Securities - Founder Shares", the shares of Class B common stock will automatically convert into shares of Class A common stock at the time of the Issuer's initial business combination, on a one-for-one basis, subject to certain adjustments described therein and have no expiration date. |
F2 | As contemplated in connection with the initial public offering of the Issuer, 1,125,000 shares of Class B common stock of the Issuer were forfeited by Sierra Lake Sponsor LLC (the "Sponsor") to the Issuer for no consideration and cancelled because the underwriters of the Issuer's initial public offering did not exercise their over-allotment option as described in the Issuer's registration statement. |