Cowen Inc. - Nov 3, 2022 Form 4 Insider Report for Progress Acquisition Corp. (PGRW)

Role
10%+ Owner
Signature
Cowen Inc., By: /s/ Stephen A. Lasota, Chief Financial Officer
Stock symbol
PGRW
Transactions as of
Nov 3, 2022
Transactions value $
-$1,182,107
Form type
4
Date filed
5/15/2023, 05:49 PM
Previous filing
May 15, 2023
Next filing
Apr 25, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PGRW Class A Common Stock Sale -$120K -11.9K -10.32% $10.10 103K Nov 3, 2022 By Cowen and Company, LLC F1, F2, F3, F4
transaction PGRW Class A Common Stock Sale -$33.2K -3.3K -3.19% $10.07 100K Nov 4, 2022 By Cowen and Company, LLC F1, F2, F3, F5
transaction PGRW Class A Common Stock Sale -$778 -75 -0.08% $10.37 99.9K Feb 6, 2023 By Cowen and Company, LLC F1, F2, F3
transaction PGRW Class A Common Stock Sale -$1.04K -100 -0.1% $10.37 99.8K Feb 8, 2023 By Cowen and Company, LLC F1, F2, F3
transaction PGRW Class A Common Stock Sale -$4.14K -400 -0.4% $10.35 99.4K Feb 9, 2023 By Cowen and Company, LLC F1, F2, F3
transaction PGRW Class A Common Stock Sale -$1.04K -100 -0.1% $10.35 99.3K Feb 13, 2023 By Cowen and Company, LLC F1, F2, F3
transaction PGRW Class A Common Stock Sale -$1.03K -100 -0.1% $10.33 99.2K Feb 22, 2023 By Cowen and Company, LLC F1, F2, F3
transaction PGRW Class A Common Stock Sale -$1.04K -100 -0.1% $10.35 99.1K Feb 24, 2023 By Cowen and Company, LLC F1, F2, F3
transaction PGRW Class A Common Stock Sale -$779 -75 -0.08% $10.39 99.1K Mar 3, 2023 By Cowen and Company, LLC F1, F2, F3
transaction PGRW Class A Common Stock Purchase $10K +950 +0.96% $10.55 100K Mar 24, 2023 By Cowen and Company, LLC F1, F2, F3, F6
transaction PGRW Class A Common Stock Other -$1.03M -100K -100% $10.29 0 May 9, 2023 By Cowen and Company, LLC F1, F2, F3, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Cowen Inc. is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 This Form 4 is filed jointly by Cowen Inc., Cowen and Company, LLC ("Cowen and Company"), Cowen Holdings, Inc. ("Cowen Holdings") and RCG LV Pearl LLC ("RCG", and collectively, the "Reporting Persons").
F2 Each of the Reporting Persons declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) of the US Securities Exchange Act of 1934, as amended, or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any group with respect to the Issuer or any securities of the Issuer. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein.
F3 Represents securities owned directly by Cowen and Company. Cowen Holdings is the sole member of Cowen and Company. RCG is the sole owner of Cowen Holdings. Cowen Inc. is the sole member of RCG. In such capacities, each of Cowen Holdings, RCG and Cowen Inc. may be deemed to beneficially own the securities owned directly by Cowen and Company, but disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein.
F4 The transaction was executed in multiple trades in prices ranging from $10.10 to $10.12, inclusive. The price reported in Column 4 above reflects the weighted average sale price. The Reporting Persons hereby undertake to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote.
F5 The transaction was executed in multiple trades in prices ranging from $10.07 to $10.08, inclusive. The price reported in Column 4 above reflects the weighted average sale price. The Reporting Persons hereby undertake to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote.
F6 The transaction was executed in multiple trades in prices ranging from $10.54 to $10.55, inclusive. The price reported in Column 4 above reflects the weighted average purchase price. The Reporting Persons hereby undertake to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares purchased at each respective price within the range set forth in this footnote.
F7 In connection with the dissolution and liquidation of the Issuer and in accordance with its Amended and Restated Certificate of Incorporation, as amended, the Issuer will be redeeming all of the outstanding shares of its Class A Common Stock that were included in the units issued in its initial public offering, including the 100,000 shares held by Cowen and Company. The redemption price is currently being calculated, which the Issuer has estimated to be approximately $10.29 per share. The Reporting Persons will file an amendment to this Form 4 after the final liquidation date to disclose the final redemption price if it is materially different from the estimated redemption price reported herein.