John J. Tough - Aug 26, 2021 Form 4/A - Amendment Insider Report for Volta Inc. (VLTA)

Role
Director
Signature
/s/ James DeGraw, as Attorney-in-Fact
Stock symbol
VLTA
Transactions as of
Aug 26, 2021
Transactions value $
$0
Form type
4/A - Amendment
Date filed
10/19/2021, 06:17 PM
Date Of Original Report
Aug 30, 2021
Next filing
Mar 10, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VLTA Class A Common Stock Award +1.64M 1.64M Aug 26, 2021 By Energize Growth Fund I LP F1, F2
transaction VLTA Class A Common Stock Award +8.41M 8.41M Aug 26, 2021 By Energize Ventures Fund LP F3, F4
transaction VLTA Class A Common Stock Award +1.85M 1.85M Aug 26, 2021 By EV Volta SPV LLC F5, F6

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 VLTA Warrant Award +663K 663K Aug 26, 2021 Class A Common Stock 663K $11.50 By By Energize Ventures Fund LP F4, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On August 26, 2021, pursuant to that certain Business Combination Agreement and Plan of Reorganization, dated as of February 7, 2021 (the " Business Combination Agreement"), by and among Tortoise Acquisition Corp. II (the "Issuer"), Volta Industries, Inc., a Delaware corporation ("Legacy Volta") and the other parties thereto, the Issuer completed its initial business combination (the "Business Combination"). As a result of the Business Combination, the Issuer changed its name to Volta Industries, Inc. In connection with the Business Combination and in accordance with the Business Combination Agreement, 1,354,847 shares of Class B Common Stock of Legacy Volta held by Energize Growth Fund I LP ("EGF") were converted into 1,644,107 shares of Class A Common Stock of the Issuer. The issuance of the shares was approved by the Issuer's board of directors pursuant to Rule 16b-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act").
F2 Energize Growth I GP LLC ("Growth GP") is the general partner of EGF. The Reporting Person is the Managing Partner of Growth GP and has sole voting and investment power over the shares held by EGF. As such, the Reporting Person may be deemed to be the beneficial owner of such shares and disclaims any beneficial ownership of such shares.
F3 In connection with the Business Combination and in accordance with the Business Combination Agreement, 6,934,129 shares of Class B Common Stock of Legacy Volta held by Energize Ventures Fund LP ("EVF") were converted into 8,414,566 shares of Class A Common Stock of the Issuer. The issuance of the shares was approved by the Issuer's board of directors pursuant to Rule 16b-3 under the Exchange Act.
F4 The Reporting Person is the Managing Partner of EVF and has sole voting and investment power over the shares held by EVF. As such, the Reporting Person may be deemed to be the beneficial owner of such shares and disclaims any beneficial ownership of such shares.
F5 In connection with the Business Combination and in accordance with the Business Combination Agreement, 1,523,285 shares of Class B Common Stock of Legacy Volta held by EV Volta SPV LLC ("Volta SPV") were converted into 1,848,507 shares of Class A Common Stock of the Issuer. The issuance of the shares was approved by the Issuer's board of directors pursuant to Rule 16b-3 under the Exchange Act.
F6 Energize Ventures GP LLC ("Ventures GP") is the manager of Volta SPV. The Reporting Person is the Managing Partner of Ventures GP and has sole voting and investment power over the shares held by Volta SPV. As such, the Reporting Person may be deemed to be the beneficial owner of such shares and disclaims any beneficial ownership of such shares.
F7 In connection with the Business Combination and in accordance with the Business Combination Agreement, (i) a warrant to purchase 165,000 shares of Class A Common Stock of Legacy Volta and (ii) a warrant to purchase 381,679 shares Class B Common Stock of Legacy Volta held by EVF were converted into a warrant to purchase 663,394 shares of Class A Common Stock of the Issuer. The issuance of the option was approved by the Issuer's board of directors pursuant to Rule 16b-3 under the Exchange Act.

Remarks:

The Form 4 filed by the Reporting Person with the U.S. Securities and Exchange Commission on August 30, 2021 inadvertently excluded securities held by Energize Growth Fund I LP, Energize Ventures Fund LP and EV Volta SPV LLC that may be deemed to be beneficially owned by the Reporting Person. This amendment is being filed to include such securities.