Sajan Pillai - Nov 5, 2021 Form 4 Insider Report for McLaren Technology Acquisition Corp. (MLAIU)

Role
Chairman and CEO, Director
Signature
/s/ Sajan Pillai
Stock symbol
MLAIU
Transactions as of
Nov 5, 2021
Transactions value $
$45,033,169,683,000
Form type
4
Date filed
11/9/2021, 07:17 PM
Previous filing
Nov 2, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MLAIU Class B Common Stock Other $16.5T +2.91M $5,687,250.00* 2.91M Nov 5, 2021 See Footnote F1, F2

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 MLAIU Warrants Other $28.5T +5.01M $5,687,250.00* 5.01M Nov 5, 2021 Common Stock 5.01M $11.50 See Footnote F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 As described in the Issuer's registration statement on Form S-1 (File No. 333-259339) (the "Registration Statement") under the heading "Description of Securities," the shares of Class B common stock, par value $0.0001 per share ("Class B Common Stock") of the Issuer, will automatically convert into shares of Class A common stock, par value $0.0001 per share, ("Class A Common Stock") at the time of the issuer's initial business combination, on a one-for-one basis, subject to certain adjustments described therein.
F2 Mr. Pillai has an indirect pecuniary interest in shares of Class B Common Stock and warrants to purchase Class A Common Stock through his ownership of membership interests of McLaren Technology Acquisition Sponsor LLC (the "Sponsor"). Pursuant to a Subscription Agreement entered into on November 5, 2021, by and between the Sponsor and Mr. Pillai, Mr. Pillai made a capital contribution to the Sponsor in the amount of $5,687,250 and the Sponsor allocated 2,906,018 shares of Class B Common Stock and 5,012,250 warrants of the Issuer to Mr. Pillai, which the Sponsor owns. Mr. Pillai, the Chairman and Chief Executive Officer of the Issuer, is the controlling shareholder of McLaren Strategic Ventures Holdings, Inc., the managing member of the Sponsor, and may be deemed to beneficially own all of the Issuer's securities owned by the Sponsor. Mr. Pillai disclaims any such beneficial ownership except to the extent of his pecuniary interest.
F3 Each warrant will become exercisable on the later of 30 days after the completion of the Issuer's initial business combination or November 5, 2022.
F4 Each warrant will expire five years after the completion of the Issuer's initial business combination.