Gv 2016 Gp, L.L.C. - Feb 15, 2023 Form 3 Insider Report for Starco Brands, Inc. (STCB)

Role
10%+ Owner
Signature
/s/ Inga Goldbard, General Counsel of GV 2016 GP, L.L.C.
Stock symbol
STCB
Transactions as of
Feb 15, 2023
Transactions value $
$0
Form type
3
Date filed
2/27/2023, 03:43 PM
Previous filing
Apr 12, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding STCB Class A Common Stock 57.5M Feb 15, 2023 By GV 2016, L.P. F1, F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 GV 2016, L.P. (the "2016 Partnership") directly acquired these securities on February 15, 2023, upon completion of, and as consideration for, the sale of shares of the equity of Soylent Nutrition, Inc., a Delaware corporation ("Soylent"), to the Issuer, in connection with the merger (the "Merger") of the Issuer's subsidiary, Starco Merger Sub I, Inc., a Delaware corporation ("Merger Sub") with and into Soylent, pursuant to an Agreement and Plan of Merger (the "Merger Agreement"), dated February 14, 2023, entered into by and among: (i) the Issuer; (ii) Merger Sub; (iii) Soylent; and (iv) Hamilton Start, LLC, solely in its capacity as the representative of the Soylent equityholders.
F2 Pursuant to the terms of the Merger Agreement, as a former preferred stockholder of Soylent, the 2016 Partnership may also be entitled to receive in the future additional shares ("Adjustment Shares") of the Issuer's Class A Common Stock in connection with a post-closing adjustment (the "Post-Closing Adjustment"), subject to the final determination of calculations of Soylent's working capital, cash at closing, indebtedness at closing and certain unpaid Merger transaction expenses in excess of the amount reimbursed by the Issuer.
F3 The 2016 Partnership's right to receive any Adjustment Shares issuable pursuant to the Post Closing Adjustment provision in the Merger Agreement became fixed and irrevocable on February 15, 2023, the effective date of the Merger.
F4 The securities reported in this row are directly held by the 2016 Partnership. The general partner of the 2016 Partnership is GV 2016 GP, L.P. ("2016 GP"). The general partner of 2016 GP is GV 2016 GP, L.L.C. ("2016 LLC"). The sole managing member of 2016 LLC is Alphabet Holdings LLC ("Alphabet Holdings"). The sole managing member of Alphabet Holdings is XXVI Holdings Inc. ("XXVI"). The controlling stockholder of XXVI is Alphabet Inc. Each of 2016 GP, 2016 LLC, Alphabet Holdings, XXVI, and Alphabet Inc. may be deemed to have voting and investment discretion over the securities directly beneficially owned by the 2016 Partnership. Each of the aforementioned parties disclaims beneficial ownership of such securities except to the extent of its pecuniary interest therein.