James C. Pappas - Jul 17, 2024 Form 4 Insider Report for INNOVATIVE FOOD HOLDINGS INC (IVFH)

Signature
/s/ James C. Pappas
Stock symbol
IVFH
Transactions as of
Jul 17, 2024
Transactions value $
$1,500,000
Form type
4
Date filed
7/19/2024, 08:09 PM
Previous filing
Dec 22, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction IVFH Common Stock, $0.0001 par value Purchase $1.5M +1.25M +339.22% $1.20 1.62M Jul 17, 2024 By: Managed Accounts of JCP Investment Management, LLC F1, F2, F3
holding IVFH Common Stock, $0.0001 par value 8.13M Jul 17, 2024 By: JCP Investment Partnership, LP F1, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This Form 4 is filed jointly by JCP Investment Partnership, LP ("JCP Partnership"), JCP Investment Partners, LP ("JCP Partners"), JCP Investment Holdings, LLC ("JCP Holdings"), JCP Investment Management, LLC ("JCP Management") and James C. Pappas (collectively, the "Reporting Persons"). Each of the Reporting Persons may be deemed to be a member of a Section 13(d) group that collectively beneficially owns more than 10% of the Issuer's outstanding shares of Common Stock. Mr. Pappas is also a director of the Issuer. Each of the Reporting Persons disclaims beneficial ownership of the shares of Common Stock reported herein except to the extent of his or its pecuniary interest therein.
F2 On July 17, 2024, JCP Management, on behalf of the JCP Accounts (as defined below), entered into a stock purchase agreement (the "Stock Purchase Agreement") with SV Asset Management, LLC ("SV Asset Management"). Pursuant to the Stock Purchase Agreement, JCP Management agreed to purchase 1,250,000 shares from SV Asset Management at a price of $1.20 per share. The transaction is expected to close in the near future.
F3 Represents shares of Common Stock held in certain accounts managed by JCP Management (the "JCP Accounts"). JCP Management, as the investment manager of the JCP Accounts, may be deemed to beneficially own the shares of Common Stock held in the JCP Accounts. Mr. Pappas, as the managing member of JCP Management, may be deemed to beneficially own the shares of Common Stock held in the JCP Accounts.
F4 Represents shares of Common Stock owned directly by JCP Partnership. JCP Partners, as the general partner of JCP Partnership, may be deemed to beneficially own the shares of Common Stock owned directly by JCP Partnership. JCP Holdings, as the general partner of JCP Partners, may be deemed to beneficially own the shares of Common Stock owned directly by JCP Partnership. JCP Management, as the investment manager of JCP Partnership, may be deemed to beneficially own the shares of Common Stock owned directly by JCP Partnership. Mr. Pappas, as the managing member of JCP Management and the sole member of JCP Holdings, may be deemed to beneficially own the shares of Common Stock owned directly by JCP Partnership.