Pearl Holdings Sponsor LLC - 13 Jan 2022 Form 4 Insider Report for Pearl Holdings Acquisition Corp

Role: 10%+ Owner
Signature: /s/ Craig E. Barnett
Issuer symbol: N/A
Transactions as of: 13 Jan 2022
Net transactions value: $0
Form type: 4
Filing time: 18 Jan 2022, 07:40:25 UTC
Previous filing: 14 Dec 2021
SEC: View on sec.gov

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	PRLH	Class B Ordinary Shares	Other		-31,250	-0.62%		5,000,000	13 Jan 2022	Class A Ordinary Shares	31,250		Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	As described in the issuer's registration statement on Form S-1 (File No. 333-261319) under the heading "Description of Securities-Founder Shares", Class B ordinary shares, par value $0.0001 ("Class B Ordinary Shares"), of the issuer will automatically convert into Class A ordinary shares, par value $0.0001, 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 certain adjustment, and have no expiration date.
F2	On December 20, 2021, the underwriters partially exercised the over-allotment option and purchased an additional 2,500,000 units from the issuer and forfeited the remainder of the option. Because the underwriters did not fully exercise the over-allotment option, Pearl Holdings Sponsor LLC (the "Sponsor") forfeited 31,250 Class B Ordinary Shares for no consideration.

Content

As described in the issuer's registration statement on Form S-1 (File No. 333-261319) under the heading "Description of Securities-Founder Shares", Class B ordinary shares, par value $0.0001 ("Class B Ordinary Shares"), of the issuer will automatically convert into Class A ordinary shares, par value $0.0001, 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 certain adjustment, and have no expiration date.

On December 20, 2021, the underwriters partially exercised the over-allotment option and purchased an additional 2,500,000 units from the issuer and forfeited the remainder of the option. Because the underwriters did not fully exercise the over-allotment option, Pearl Holdings Sponsor LLC (the "Sponsor") forfeited 31,250 Class B Ordinary Shares for no consideration.