Clay Whitehead - Jan 13, 2022 Form 3 Insider Report for Papaya Growth Opportunity Corp. I (PPYA)

Role
Chief Executive Officer, Director, 10%+ Owner
Signature
/s/ Clay Whitehead
Stock symbol
PPYA
Transactions as of
Jan 13, 2022
Transactions value $
$0
Form type
3
Date filed
1/13/2022, 07:02 PM
Next filing
Jan 19, 2022

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 PPYA Class B Common Stock, par value $0.0001 Jan 13, 2022 Class A Common Stock 7.53M footnote F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 As described in Papaya Growth Opportunity Corp. I's registration statement on Form S-1 (File No. 333-261317), as amended (the "Registration Statement") and as described in the section entitled "Description of Securities," the Class B common stock will automatically convert into shares of Class A common stock upon the consummation of our initial business combination on a one-for-one basis, subject to adjustment, and have no expiration date.
F2 These shares represent the Class B common stock held by Papaya Growth Opportunity I Sponsor, LLC (the "Sponsor"), acquired pursuant to a subscription agreement by and between the Sponsor and the Issuer. The Class B common stock owned by the Sponsor includes up to 956,250 shares that are subject to forfeiture in the event the underwriters of the initial public offering of the Issuer's securities do not exercise their over-allotment option in full as described in the Issuer's registration statement.
F3 The reporting person is the managing member of the Sponsor. As such, the reporting person has voting and investment discretion with respect to the common stock held of record by the Sponsor and may be deemed to have shared beneficial ownership of the common stock held directly by the Sponsor and disclaims any beneficial ownership of the reported common stock other than to the extent of any pecuniary interest he may have therein, directly or indirectly.