Pensare Sponsor Group, Llc - Sep 10, 2021 Form 4 Insider Report for American Virtual Cloud Technologies, Inc. (AVCT)

Role
10%+ Owner
Signature
/s/ Alan I. Annex, Attorney-in-Fact
Stock symbol
AVCT
Transactions as of
Sep 10, 2021
Transactions value $
$6
Form type
4
Date filed
9/14/2021, 08:02 PM
Previous filing
Sep 10, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AVCT Common Stock Exercise of in-the-money or at-the-money derivative security $2.26K +226K +3.44% $0.01* 6.8M Sep 10, 2021 Direct
transaction AVCT Common Stock Sale -$2.25K -564 -0.01% $4.00* 6.8M Sep 10, 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 Warrants Exercise of in-the-money or at-the-money derivative security $0 -226K -100% $0.00* 0 Sep 10, 2021 Common Stock 226K $0.01 Direct
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On September 10, 2021, the reporting person exercised warrants to purchase 226,000 shares of the issuer's common stock for $0.01 per share. The reporting person paid the exercise price on a cashless basis, resulting in the issuer's withholding of 564 of the warrant shares to pay the exercise price and issuing to the reporting person the remaining 225,436 shares.