ExcelFin SPAC LLC - Oct 20, 2021 Form 3/A - Amendment Insider Report for ExcelFin Acquisition Corp. (XFIN)

Role
10%+ Owner
Signature
ExcelFin SPAC LLC, By: Grand Fortune Capital, LLC, its Managing Member, By: Grand Fortune Capital (HK) Company Ltd., its Managing Member, By: Goh Lin Piao, its Director /s/ Goh Lin Piao
Stock symbol
XFIN
Transactions as of
Oct 20, 2021
Transactions value $
$0
Form type
3/A - Amendment
Date filed
11/15/2021, 07:09 PM
Date Of Original Report
Oct 20, 2021
Next filing
Oct 27, 2023

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
holding XFIN Class B common stock Oct 20, 2021 Class A common stock 5.75M Direct F1, F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares of Class B common stock automatically convert into shares of Class A common stock at the time of the Issuer's initial business combination, or earlier at the option of the Reporting Person, on a one-for-one basis, subject to adjustment for share splits, share capitalizations, reorganizations, recapitalizations and the like, and certain anti-dilution rights and have no expiration date.
F2 The shares of Class B common stock reported on this Form 3 include up to 750,000 shares that are subject to forfeiture to the extent the underwriters of the initial public offering of the Issuer's securities do not exercise in full their over-allotment option as described in the Issuer's registration statement on Form S-1 (File No. 333-260038).
F3 Fin VC Constellation, LLC ("FVC") and Grand Fortune Capital, LLC ("GFC") are the managers of the Reporting Person. FVC owns 12.5% of the membership interests in the Reporting Person and GFC owns 87.5% of the membership interests in the Reporting Person. As such, FVC and GFC may be deemed to have beneficial ownership over the number of shares of Class B common stock held directly by the Reporting Person corresponding to their membership interests in the Reporting Person. Each of the Reporting Person, FVC and GFC disclaim any beneficial ownership of the reported shares other than to the extent of any pecuniary interest they may have therein.
F4 Grand Fortune Capital (HK) Company Ltd. ("GFCHK") controls GFC and is managed by a board of managers ("GFCHK Board") consisting of three managers. Any action by GFC with respect to shares of Class B common stock held directly by the Reporting Person, including voting and dispositive decisions, requires at least a majority vote of the managers of the GFCHK Board. Each manager of the GFCHK Board disclaims beneficial ownership of the shares held by GFC.