1P Management LLC - Jun 10, 2021 Form 3 Insider Report for Logistics Innovation Technologies Corp. (LITT)

Role
Director, 10%+ Owner
Signature
/s/ Christina Min, Attorney-in-Fact for 1P Management LLC
Stock symbol
LITT
Transactions as of
Jun 10, 2021
Transactions value $
$0
Form type
3
Date filed
6/10/2021, 09:57 PM
Next filing
Jul 26, 2021

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
holding LITT Class B Common Stock Jun 10, 2021 Class A Common Stock 7.4M Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The shares of Class B common stock are convertible for shares of the Issuer's Class A common stock as described under the heading "Description of Securities" in the Issuer's Registration Statement on Form S-1 (File No. 333-253949) (the "Registration Statement") and have no expiration date. The shares of Class B common stock beneficially owned by the Reporting Person include up to 1,009,125 shares of Class B common stock subject to forfeiture to the Issuer depending on the extent to which the underwriters' over-allotment option is exercised in connection with the Issuer's initial public offering of units, as described in the Registration Statement.
F2 1P Management LLC is the record holder of the securities reported herein. Isaac Applbaum is the manager of 1P Management LLC and has voting and investment discretion with respect to the securities held of record by 1P Management LLC. Mr. Applbaum disclaims beneficial ownership of the securities held by 1P Management LLC, except to the extent of any pecuniary interest therein.

Remarks:

See Exhibit 99.1 - Joint Filer Information, which is incorporated herein by reference and describes in further detail the relationships of the Reporting Person to the Issuer. See Exhibits 24.1 and 24.2 - Powers of Attorney.