SVAC Sponsor LLC - 14 Jan 2022 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
14 Jan 2022
Net transactions value
$0
Form type
4
Filing time
19 Jan 2022, 19:43:01 UTC
Previous filing
02 Aug 2021
Next filing
22 May 2023
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 +1,781,628 +19% 11,262,341 14 Jan 2022 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 Warrants Options Exercise -6,723,127 -100% 0 14 Jan 2022 Class A Common Stock 6,723,127 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 In connection with the Cyxtera Technologies, Inc. (the "Issuer") determination to redeem its outstanding warrants, the warrants permit the holder to cashlessly exercise the warrants at the stated rate of 0.265 shares of Class A Common Stock per warrant.
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 became exercisable 12 months from the closing of Starboard Value Acquisition Corp.'s ("SVAC") initial public offering, which closed on September 14, 2020. The warrants would have expired five years after the completion of the business combination between SVAC, Mundo Merger Sub 1, Inc., Mundo Merger Sub 2, LLC, the Issuer and Mundo Holdings, Inc. or earlier upon redemption or liquidation. Each whole warrant would have entitled the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share (subject to adjustment).

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.