ACE Convergence Acquisition LLC - 26 Jan 2022 Form 4 Insider Report for ACE Convergence Acquisition Corp.

Role
Director, 10%+ Owner
Signature
/s/ Behrooz Abdi, as Manager
Issuer symbol
N/A
Transactions as of
26 Jan 2022
Net transactions value
$0
Form type
4
Filing time
28 Jan 2022, 16:01:02 UTC
Previous filing
14 Oct 2021
Next filing
25 Nov 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 TMPO Class B ordinary shares Other -755,930 -19% 3,160,570 26 Jan 2022 Class A ordinary shares 755,930 Direct 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 the issuer's Registration Statement on Form S-1, as amended (File No. 333-239716) (the "Form S-1") under the heading "Description of Securities--Founder Shares", the Class B ordinary shares, par value $0.0001 per share, of the issuer ("Class B Ordinary Shares") will automatically convert into Class A ordinary shares, par value $0.0001 per share, of the issuer ("Class A Ordinary Shares") at the time of the issuer's initial business combination, or earlier at the option of the holder, on a one-for-one basis, subject to adjustment for share sub-divisions, share dividends, rights issuances, consolidations, reorganizations, recapitalizations and the like and certain anti-dilution rights, and have no expiration date.
F2 On January 26, 2022, the reporting person distributed 755,930 Class B Ordinary Shares to one of its members in partial redemption of such member's Class A interests in the reporting person.
F3 The reporting person, in whose name the securities reported herein are held, is managed by its manager, Behrooz L. Abdi. Mr. Abdi may be deemed to beneficially own shares held by the reporting person by virtue of his control over the reporting person. Mr. Abdi disclaims beneficial ownership of the shares held by the reporting person, except to the extent of his pecuniary interest therein.

Remarks:

Mr. Abdi, the sole manager of the reporting person, serves on the board of directors of the issuer. For the purposes of Section 16 of the Securities Exchange Act of 1934, as amended, the reporting person may be deemed a director by deputization with respect to the issuer on the basis of the service of Mr. Abdi on the issuer's board of directors.