Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
holding | DWAC | Class B Common Stock | Sep 2, 2021 | Class A Common | 7.14M | See Footnote | F1, F2 |
Id | Content |
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F1 | As described in the registrant's registration statement on Form S-1 (File No. 333- 256472) under the heading "Description of Securities--Founder Shares", the shares of Class B common stock will automatically convert into shares of Class A common stock at the time of the registrant's initial business combination on a one-for-one basis subject to certain adjustments and have no expiration date. |
F2 | These shares represent the Class B common stock held by ARC Global Investments II LLC (the "Sponsor"), acquired pursuant to a subscription agreement by and between the Sponsor and the registrant. The Class B common stock owned by the Sponsor includes up to 937,500 shares that are subject to forfeiture in the event the underwriters of the initial public offering of the registrant's securities do not exercise their over-allotment option in full as described in the registrant's registration statement. The reporting person is the managing member of the Sponsor, and may be deemed to have beneficial ownership of the founder shares held by the Sponsor. The reporting person disclaims beneficial ownership over any securities other than to the extent of any pecuniary interest he may have therein, directly or indirectly. |
This amendment is being filed to correct an error in the number of shares reported on the Form 3 filed by the Reporting Person on September 2, 2021.