Lee Aerospace, Inc. - Aug 5, 2022 Form 4 Insider Report for Alfi, Inc. (ALFIQ)

Role
10%+ Owner
Signature
/s/ James Lee, President of Lee Aerospace, Inc.
Stock symbol
ALFIQ
Transactions as of
Aug 5, 2022
Transactions value $
$500,000
Form type
4
Date filed
8/9/2022, 06:43 PM
Previous filing
May 13, 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
transaction ALFIQ Warrant (right to buy) Award $0 +375K $0.00 375K Aug 5, 2022 Common Stock 375K $1.51 Direct F1, F2
transaction ALFIQ Convertible Note Award $500K $500K Aug 5, 2022 Common Stock 306K $1.64 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Warrant and Convertible Note were issued to Lee Aerospace, Inc. pursuant to, and in connection with, Amendment No. 2 to Credit and Security Agreement between Alfi, Inc. (as borrower) and Lee Aerospace, Inc. (as lender), dated August 5, 2022.
F2 The Warrant and Convertible Note were issued to, and are held directly by, Lee Aerospace, Inc. James Lee, a director of Alfi, Inc., may be deemed to beneficially own securities held by Lee Aerospace, Inc. by virtue of his control over Lee Aerospace, Inc. Mr. Lee disclaims beneficial ownership of the Alfi, Inc. securities held by Lee Aerospace, Inc. other than to the extent of his pecuniary interest in such securities.
F3 Reflects the number of shares of the Issuer's common stock issuable upon conversion of the $500,000 principal amount of the Convertible Note. Interest on the unpaid principal amount of the Convertible Note accrues at an annual rate of 6% through October 12, 2022 and an annual rate of 9% thereafter, except that in event of default additional penalty interest at an annual rate of 3% will accrue on borrowings through October 12, 2022. Unpaid interest accrued on the Convertible Note is also convertible into shares of the Issuer's common stock.