Andrew Scharf - May 12, 2021 Form 4 Insider Report for AF Acquisition Corp. (AFAQ)

Role
President, Director, 10%+ Owner
Signature
/s/ Andrew Scharf
Stock symbol
AFAQ
Transactions as of
May 12, 2021
Transactions value $
$0
Form type
4
Date filed
5/13/2021, 09:37 PM

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 AFAQ Class B Ordinary Shares Other $0 -150K -2.61% $0.00 5.6M May 12, 2021 Class A Ordinary Shares 150K See footnote F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Class B ordinary shares will automatically convert into Class A ordinary shares at the time of the Issuer's initial business combination on a one-for-one basis. The Class B ordinary shares have no expiration date.
F2 As contemplated in connection with the initial public offering of the Issuer, 150,000 Class B ordinary shares of the Issuer were returned by the reporting person to the Issuer for no consideration and cancelled because the underwriters' over-allotment option was not fully exercised in full.
F3 AF Sponsor LLC ("Sponsor") is the record holder of the securities reported herein. Andrew Scharf is one of two managing members of the Sponsor and may be deemed to have beneficial ownership of the securities held of record by Sponsor. Mr. Scharf disclaims any such beneficial ownership except to the extent of her pecuniary interest therein.