Marblegate Acquisition LLC - 15 Nov 2021 Form 4 Insider Report for Marblegate Acquisition Corp. (GATE)

Role
10%+ Owner
Signature
Marblegate Acquisition LLC, By: /s/ Andrew Milgram, a managing partner of Marblegate Asset Management, LLC, the managing member of Marblegate Acquisition LLC
Issuer symbol
GATE
Transactions as of
15 Nov 2021
Net transactions value
-$3,015
Form type
4
Filing time
17 Nov 2021, 09:19:26 UTC
Previous filing
07 Oct 2021
SEC
View on sec.gov

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 GATE Class B Common Stock Other $3,015 -1,507,500 -16% $0.002000* 7,829,469 15 Nov 2021 Class A Common Stock 1,507,500 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 As described in the registrant's registration statement on Form S-1 (File No. 333-259422) 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 registrant'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 registrant, 1,507,500 shares of Class B common stock of the registrant were returned by the reporting persons to the registrant for no consideration and cancelled, because the underwriters' over-allotment option was not exercised.
F3 Marblegate Acquisition LLC (the "Sponsor") is the record holder of the securities reported herein. Marblegate Asset Management, LLC ("MAM") is the managing member of the Sponsor and each of Andrew Milgram and Paul Arrouet are managing partners of MAM. Messrs. Milgram and Arrouet may be deemed to have shared beneficial ownership of the shares held by the Sponsor by virtue of their control over the Sponsor, as managing partners of the Sponsor's managing member. Messrs. Milgram and Arrouet each disclaims beneficial ownership of the common stock held by the Sponsor other than to the extent of his pecuniary interest in such shares.