APSC Holdco II, L.P. - 09 Nov 2021 Form 4 Insider Report for TEAM INC (TISI)

Role
10%+ Owner
Signature
APSC Holdco II, L.P., By: /s/ George Fan, as attorney-in-fact
Issuer symbol
TISI
Transactions as of
09 Nov 2021
Net transactions value
$0
Form type
4
Filing time
12 Nov 2021, 20:00:09 UTC
Next filing
14 Feb 2022
SEC
View on sec.gov

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 TISI Warrants Other -3,267,746 -100% 0 09 Nov 2021 Common Stock 3,267,746 $7.75 Direct F1, F2, F3
transaction TISI Warrants Other +3,267,746 3,267,746 09 Nov 2021 Common Stock 3,267,746 $1.50 Direct F1, F2, F3
transaction TISI Warrants Purchase +500,000 +14% 4,082,949 09 Nov 2021 Common Stock 500,000 $1.50 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents warrants to purchase 3,582,949 shares of common stock ("Shares") of Team, Inc. (the "Issuer") that have been re-struck at $1.50 per share and an additional 500,000 warrants that were acquired, in each case, based on the same deemed valuation or price.
F2 Exercisable at any time at the sole discretion of the holder.
F3 APSC Holdco II, L.P. ("APSC Holdco II") directly holds warrants to purchase Shares of the Issuer. Atlantic Park Strategic Capital Parallel Master Fund, L.P. ("Atlantic Park") is the sole beneficial owner of APSC Holdco II. Pursuant to an Investment Management Agreement, dated July 6, 2020, Atlantic Park and certain of its affiliates have delegated their voting and dispositive power over their direct and indirect investments (including the Shares) to Iron Park Capital Partners, LP and GASC APF, L.P. and appointed each of them to jointly act as investment advisers.