Navigation Capital Partners SOF I, LLC - 08 Sep 2021 Form 4 Insider Report for American Virtual Cloud Technologies, Inc.

Role: 10%+ Owner
Signature: Navigation Capital Partners SOF I, LLC: By: /s/ Lawrence E. Mock, Manager
Issuer symbol: N/A
Transactions as of: 08 Sep 2021
Net transactions value: -$24,295,608
Form type: 4
Filing time: 10 Sep 2021, 17:23:11 UTC
Previous filing: 01 Jun 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AVCT	Common Stock	Conversion of derivative security		+2,104,097			2,104,097	08 Sep 2021	Direct	F1
transaction	AVCT	Common Stock	Conversion of derivative security		+5,512,145	+262%		7,616,242	08 Sep 2021	Direct	F1

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	AVCT	Series A Convertible Debentures	Conversion of derivative security	$6,305,608				0	08 Sep 2021	Common Stock	2,104,097		Direct	F1
transaction	AVCT	Series A-1 Convertible Debentures	Conversion of derivative security	$17,990,000				0	08 Sep 2021	Common Stock	5,512,145		Direct	F1

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

Explanation of Responses:

Id	Content
F1	On September 8, 2020, the unpaid principal amount (together with all accrued but unpaid interest thereon) of the Series A Convertible Debentures and Series A-1 Convertible Debentures (the "Debentures") automatically converted into shares of the Issuer's common stock, par value $0.001 per share (the "Common Stock") at a conversion price of $3.45 (the "Mandatory Conversions"). The Mandatory Conversions were triggered by the closing price of the Common Stock on the Nasdaq Capital Market exceeding $6.00 for 40 trading days within a consecutive 60 trading day-period.

Content

On September 8, 2020, the unpaid principal amount (together with all accrued but unpaid interest thereon) of the Series A Convertible Debentures and Series A-1 Convertible Debentures (the "Debentures") automatically converted into shares of the Issuer's common stock, par value $0.001 per share (the "Common Stock") at a conversion price of $3.45 (the "Mandatory Conversions"). The Mandatory Conversions were triggered by the closing price of the Common Stock on the Nasdaq Capital Market exceeding $6.00 for 40 trading days within a consecutive 60 trading day-period.