TENOR CAPITAL MANAGEMENT Co., L.P. - Jul 27, 2023 Form 4 Insider Report for Revelstone Capital Acquisition Corp. (RCAC)

Role: 10%+ Owner
Signature: Tenor Capital Management Company, L.P., By: /s/ Robin Shah, Managing Member of its general partner, Tenor Management GP, LLC
Stock symbol: RCAC
Transactions as of: Jul 27, 2023
Transactions value $: $0
Form type: 4
Date filed: 8/24/2023, 04:06 PM
Previous filing: Aug 24, 2023
Next filing: Dec 11, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	RCAC	Class A Common Stock, par value $0.0001 per share	Conversion of derivative security		+101K	+7.5%		1.45M	Jul 27, 2023	See footnote	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	RCAC	Class B Common Stock, par value $0.0001 per share	Conversion of derivative security		+101K			0	Jul 27, 2023	Class A Common Stock	101K		See footnote	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On July 27, 2023, the shares of Class B Common Stock held by the Master Fund (as defined below) were converted into shares of Class A Common Stock on a one-for-one basis pursuant to their terms.
F2	The securities reported herein are held by Tenor Opportunity Master Fund, Ltd. (the "Master Fund"). Tenor Capital Management Company, L.P. ("Tenor Capital") serves as the investment manager to the Master Fund. Robin Shah serves as the managing member of Tenor Management GP, LLC, the general partner of Tenor Capital. Each of the Reporting Persons disclaims beneficial ownership of the shares reported herein except to the extent of its or his pecuniary interest therein, if any, and the filing of this Form 4 shall not be construed as an admission that any Reporting Persons is the beneficial owner of any such shares for purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or for any other purpose.

Content

On July 27, 2023, the shares of Class B Common Stock held by the Master Fund (as defined below) were converted into shares of Class A Common Stock on a one-for-one basis pursuant to their terms.

The securities reported herein are held by Tenor Opportunity Master Fund, Ltd. (the "Master Fund"). Tenor Capital Management Company, L.P. ("Tenor Capital") serves as the investment manager to the Master Fund. Robin Shah serves as the managing member of Tenor Management GP, LLC, the general partner of Tenor Capital. Each of the Reporting Persons disclaims beneficial ownership of the shares reported herein except to the extent of its or his pecuniary interest therein, if any, and the filing of this Form 4 shall not be construed as an admission that any Reporting Persons is the beneficial owner of any such shares for purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or for any other purpose.