Eric Chen - Jan 18, 2022 Form 3 Insider Report for AIB Acquisition Corp (AIB)

Role
Chief Executive Officer, Director, 10%+ Owner
Signature
/s/ Eric Chen
Stock symbol
AIB
Transactions as of
Jan 18, 2022
Transactions value $
$0
Form type
3
Date filed
1/18/2022, 08:14 PM
Next filing
Jan 24, 2022

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 AIB Class B Ordinary Shares Jan 18, 2022 Class A Ordinary Shares 2.16M By AIB LLC F1, F2, F3
* 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. 333-260594) (the "Registration Statement") under the heading "Description of Securities--Founder Shares and Private Shares," the shares of Class B ordinary shares, par value $0.0001 per share, will automatically be converted into shares of Class A ordinary shares, par value $0.0001 per share, on the first business day following the completion of the issuer's initial business combination, on a one-for-one basis, subject to certain adjustments described therein and have no expiration date.
F2 These shares represent Class B ordinary shares held by AIB LLC (the "Sponsor") acquired pursuant to a subscription agreement by and between the Sponsor and the issuer. The Class B ordinary shares owned by the Sponsor includes up to 281,250 shares that are subject to forfeiture in the event the underwriters of the issuer's initial public offering do not exercise in full their over-allotment option as described in the issuer's Registration Statement.
F3 Eric Chen has voting and dispositive control over the securities held by the Sponsor. As such, Mr. Chen may be deemed to beneficially own of the shares of Class B ordinary shares held directly by the Sponsor.