Rick Matthew Gerson - 16 Mar 2023 Form 4 Insider Report for Frontier Acquisition Corp.

Role
Director, Other*, 10%+ Owner
Signature
Rick Gerson: By: /s/ Scott Carpenter, Attorney-in-Fact
Issuer symbol
N/A
Transactions as of
16 Mar 2023
Net transactions value
-$24,480,000
Form type
4
Filing time
20 Mar 2023, 16:53:07 UTC
Previous filing
19 Jan 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FRONU Class A ordinary shares Disposed to Issuer $0 -660,000 -100% $0.000000* 0 16 Mar 2023 Direct F1
transaction FRONU Class A ordinary shares Disposed to Issuer $24,480,000 -2,400,000 -100% $10.20 0 16 Mar 2023 By Alpha Wave Ventures, LP F2

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 FRONU Class B ordinary shares Disposed to Issuer $0 -120,000 -100% $0.000000* 0 16 Mar 2023 Class A ordinary shares 120,000 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Rick Matthew Gerson is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 In connection with the liquidation and dissolution of the Issuer, Frontier Acquisition Sponsor LLC ("Sponsor") surrendered to the Issuer, for no consideration, 660,000 of the Issuer's Private Placement Units (which include the reported Class A ordinary shares) directly held by Sponsor. Sponsor is controlled by Rick Gerson.
F2 The reported securities were redeemed by the Issuer pursuant to a redemption of all Class A ordinary shares in connection with the Issuer's liquidation. The reported securities were directly held by Alpha Wave Ventures, LP, an investment entity managed by Alpha Wave Global, LP ("Alpha Wave"). Rick Gerson is the Chairman and Chief Investment Officer of Alpha Wave.
F3 As described in the Issuer's registration statement on Form S-1 (File No. 333-253264) under the heading "Description of Securities--Founder Shares", the Class B ordinary shares would have automatically converted into Class A ordinary shares of the Issuer 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 splits, share capitalizations, reorganizations, recapitalizations and the like, and certain anti-dilution rights and have no expiration date. In connection with the liquidation and dissolution of the Issuer, each of Jonathan Christodoro, Peter Attia, and David A. Sinclair surrendered to the Issuer, for no consideration, 40,000 Class B ordinary shares directly held by such reporting persons.

Remarks:

After giving effect to the Issuer's delisting and deregistration, the Reporting Persons will no longer be subject to Section 16 reporting obligations.