Alan Kestenbaum - Dec 17, 2021 Form 4 Insider Report for Sports Ventures Acquisition Corp. (AKICU)

Role: Chief Executive Officer, Director, 10%+ Owner
Signature: /s/ Alan Kestenbaum
Stock symbol: AKICU
Transactions as of: Dec 17, 2021
Transactions value $: $0
Form type: 4
Date filed: 1/25/2022, 08:54 AM

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AKICU	Class A Ordinary Shares	Other	$0	-330K	-50%	$0.00	330K	Dec 17, 2021	Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	These shares have been distributed by AKICV LLC (the "Sponsor") and are underlying units (each unit consisting of one Class A ordinary share and one third of one warrant, each whole warrant exercisable to purchase one Class A ordinary share) which were previously held by the Sponsor and were acquired pursuant to a unit subscription agreement by and between the Sponsor and the issuer. On the disposition date, the Sponsor distributed all of its Class A ordinary shares to its managing members, Alan Kestenbaum, the Chief Executive Officer and a Director of the issuer, Robert Tilliss, the Chief Financial Officer, President and a Director of the issuer and an additional member. Alan Kestenbaum now holds the Class A ordinary shares in his individual capacity. Does not include 5,750,000 Class B ordinary shares held by Sponsor, which shares will automatically convert into Class A ordinary shares at the time of the issuer's initial business combination on a one-for-one basis, subject to adjustment for stock splits, stock dividends, reorganizations, recapitalizations and the like, and certain anti-dilution rights.
F2	Alan Kestenbaum, the Chief Executive Officer and a Director of the issuer, and Robert Tilliss, the Chief Financial Officer, President and a Director of the issuer, are the managing members of the Sponsor and have voting and investment discretion with respect to the securities held by the Sponsor. As such, each of Messrs. Kestenbaum and Tilliss may be deemed to share beneficial ownership of Class B ordinary shares held directly by the Sponsor. Each such person disclaims any beneficial ownership of the reported shares other than to the extent of any pecuniary interest they may have therein, directly or indirectly.

Content

These shares have been distributed by AKICV LLC (the "Sponsor") and are underlying units (each unit consisting of one Class A ordinary share and one third of one warrant, each whole warrant exercisable to purchase one Class A ordinary share) which were previously held by the Sponsor and were acquired pursuant to a unit subscription agreement by and between the Sponsor and the issuer. On the disposition date, the Sponsor distributed all of its Class A ordinary shares to its managing members, Alan Kestenbaum, the Chief Executive Officer and a Director of the issuer, Robert Tilliss, the Chief Financial Officer, President and a Director of the issuer and an additional member. Alan Kestenbaum now holds the Class A ordinary shares in his individual capacity. Does not include 5,750,000 Class B ordinary shares held by Sponsor, which shares will automatically convert into Class A ordinary shares at the time of the issuer's initial business combination on a one-for-one basis, subject to adjustment for stock splits, stock dividends, reorganizations, recapitalizations and the like, and certain anti-dilution rights.

Alan Kestenbaum, the Chief Executive Officer and a Director of the issuer, and Robert Tilliss, the Chief Financial Officer, President and a Director of the issuer, are the managing members of the Sponsor and have voting and investment discretion with respect to the securities held by the Sponsor. As such, each of Messrs. Kestenbaum and Tilliss may be deemed to share beneficial ownership of Class B ordinary shares held directly by the Sponsor. Each such person disclaims any beneficial ownership of the reported shares other than to the extent of any pecuniary interest they may have therein, directly or indirectly.