Black Mountain Sponsor LLC - Apr 10, 2023 Form 4 Insider Report for Black Mountain Acquisition Corp. (BMAC)

Role
10%+ Owner
Signature
/s/ Rhett Bennett, Chief Executive Officer and Sole Manager
Stock symbol
BMAC
Transactions as of
Apr 10, 2023
Transactions value $
$0
Form type
4
Date filed
4/10/2023, 06:28 PM
Previous filing
Oct 13, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BMAC Class A Common Stock Conversion of derivative security +6.81M 6.81M Apr 10, 2023 Direct F1

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 BMAC Class B Common Stock Conversion of derivative security -6.81M -100% 0 Apr 10, 2023 Class A Common Stock 6.81M 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 accordance with the amended and restated certificate of incorporation of Black Mountain Acquisition Corp. ("BMAC"), the Reporting Person elected to convert its shares of Class B Common Stock into shares of Class A Common Stock on a one-for-one basis.
F2 The total shares reported includes 1,150,000 shares of Class B Common Stock issued to the Reporting Person as a result of a stock dividend of the shares of Class B Common Stock by BMAC in connection with BMAC's initial public offering which, as a result of a clerical error, were not previously included on the Reporting Person's Form 3 filed on October 13, 2021.
F3 The shares of Class B Common Stock were (i) convertible into shares of Class A Common Stock at the Reporting Person's election on a one-for-one basis and (ii) automatically convertible into shares of Class A Common Stock at the time of the closing of BMAC's initial business combination on a one-for-one basis, subject to adjustment pursuant to certain anti-dilution rights (which rights were waived by the Reporting Person in connection with BMAC's proposed business combination), and had no expiration date.