TLG Acquisition Founder LLC - Jul 31, 2023 Form 4 Insider Report for Electriq Power Holdings, Inc. (ELIQ)

Role
10%+ Owner
Signature
/s/ John Michael Lawrie, as manager
Stock symbol
ELIQ
Transactions as of
Jul 31, 2023
Transactions value $
$0
Form type
4
Date filed
8/2/2023, 09:46 PM
Previous filing
Jan 31, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ELIQ Class A Common Stock Award +757K 757K Jul 31, 2023 Direct F1
transaction ELIQ Class A Common Stock Conversion of derivative security $0 +1.09M +144.09% $0.00 1.85M Jul 31, 2023 Direct F4

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 ELIQ Class F Common Stock Other $0 -3.27M -75% $0.00 1.09M Jul 31, 2023 Class A Common Stock 3.27M Direct F2, F3
transaction ELIQ Class F Common Stock Conversion of derivative security $0 -1.09M -100% $0.00* 0 Jul 31, 2023 Class A Common Stock 1.09M Direct F2, F4
transaction ELIQ Warrants (right to buy) Other $0 -1M -50% $0.00 1M Jul 31, 2023 Class A Common Stock 1M Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

TLG Acquisition Founder LLC is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 On July 31, 2023, TLG Acquisition Founder LLC (the "Sponsor") received 756,635 shares of Class A Common Stock of the Issuer ("Class A Common Stock") upon the conversion of working capital loans in connection with the completion of the Issuer's business combination with Electriq Power, Inc. ("Electriq").
F2 Shares of Class F Common Stock of the Issuer ("Class F Common Stock") were convertible into shares of Class A Common Stock as described under the heading "Description of Securities-Founder Shares" in the Issuer's registration statement on Form S-1 (File No. 333-252032) and the shares of Class F Common Stock had no expiration date.
F3 On July 31, 2023, in connection with the closing of the Issuer's business combination, the Sponsor forfeited and surrendered for no consideration 3,270,652 shares of Class F Common Stock pursuant to the terms of the Sponsor Agreement, dated November 13, 2022 (as amended on June 8, 2023), by and among the Issuer, the Sponsor, TLG Fund I, LP, Electriq and the other parties thereto.
F4 The Issuer consummated its initial Business Combination on July 31, 2023, whereby, among other things, the shares of Class F Common Stock converted into shares of Class A Common Stock.
F5 On July 31, 2023, the Sponsor received 1,000,000 warrants to purchase shares of Class A Common Stock for $6.57 per share upon the conversion of $1,500,000 of working capital loans in connection with the completion of the Business Combination.