Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
transaction | PRPC | Class B ordinary shares | Disposed to Issuer | $0 | -15.1M | -100% | $0.00 | 1 | Nov 21, 2023 | Class A ordinary shares | 15.1M | Direct | F1, F2, F3 |
CC Neuberger Principal Holdings III Sponsor LLC is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.
Id | Content |
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F1 | As described in the Issuer's registration statement on Form S-1 (File No. 333-252104) under the heading "Description of Securities-Founder Shares", Class B ordinary shares, par value $0.001 per share of the Issuer ("Class B ordinary shares"), would have automatically converted into Class A ordinary shares, par value $0.0001 per share, 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 stock splits, stock dividends, reorganizations, recapitalizations and the like, and certain anti-dilution rights and had no expiration date. |
F2 | In connection with the liquidation and dissolution of the Issuer, each of J. Joel Hackney, Jr, Keith Abell, and Matthew Mannelly surrendered to the Issuer, for no consideration, 40,000 Class B ordinary shares directly held by such reporting person. CC Neuberger Principal Holdings III Sponsor LLC (the "Sponsor") and Matthew Skurbe surrendered to the Issuer, for no consideration, 14,942,499 Class B ordinary shares directly held by the Sponsor. Upon effectiveness of the Issuer's delisting and deregistration in connection with the Company's liquidation, the reporting person's Section filing obligations will cease. |
F3 | Solely with regard to the Sponsor, there are four managers of Sponsor's board of managers. Each manager has one vote, and the approval of a majority is required to approve an action of Sponsor. Under the so-called "rule of three", if voting and dispositive decisions regarding an entity's securities are made by three or more individuals, and a voting or dispositive decision requires the approval of a majority of those individuals, then none of the individuals is deemed a beneficial owner of the entity's securities. This is the situation with regards to Sponsor. Based upon the foregoing analysis, no individual manager of Sponsor exercises voting or dispositive control over any of the securities held by Sponsor, even those in which he or she directly holds a pecuniary interest. Accordingly, none of them will be deemed to have or share beneficial ownership of such securities. |