Jason Ader - Feb 25, 2022 Form 4 Insider Report for 26 Capital Acquisition Corp. (ADER)

Role
Chief Executive Officer, Director, 10%+ Owner
Signature
/s/ Jason Ader
Stock symbol
ADER
Transactions as of
Feb 25, 2022
Transactions value $
$727,939
Form type
4
Date filed
3/1/2022, 08:00 PM

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 ADER Warrants Purchase $339K +706K $0.48 706K Feb 25, 2022 Class A Common Stock 706K $11.50 See footnote F1, F2, F3, F4, F5
transaction ADER Warrants Purchase $117K +239K +33.82% $0.49 945K Feb 28, 2022 Class A Common Stock 239K $11.50 See footnote F1, F2, F4, F5, F6
transaction ADER Warrants Purchase $272K +555K +58.75% $0.49 1.5M Mar 1, 2022 Class A Common Stock 555K $11.50 See footnote F1, F2, F4, F5, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These are warrants included in the units sold in the Issuer's initial public offering.
F2 Each whole warrant is exercisable to purchase one share of the Issuer's Class A common stock, par value $0.0001 per share ("Class A Common Stock") at an exercise price of $11.50 during the period commencing on the later of (i) twelve months from the date of the closing of the Issuer's initial public offering or (ii) 30 days following the consummation of the Issuer's initial business combination (the "Business Combination"), and expiring on the fifth anniversary of the consummation of the Business Combination or earlier upon redemption or liquidation.
F3 Represents the weighted average purchase price of the warrants on such date. The warrants were acquired in multiple transactions at prices ranging from $0.38 per warrant to $0.50 per warrant. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the U.S. Securities and Exchange Commission, upon request, full information regarding the number of warrants acquired at each separate price within the ranges set forth in this footnote.
F4 This amount does not include the 7,500,000 private warrants beneficially owned by the reporting person.
F5 SpringOwl Special Opportunities Fund, LP ("SpringOwl") is the record holder of the securities reported herein. Jason Ader is both the General Partner and a Limited Partner of SpringOwl. Mr. Ader has voting and investment discretion with respect to the securities held of record by SpringOwl and as such, may be deemed to have beneficial ownership of such securities. Mr. Ader disclaims any beneficial ownership of the reported securities other than to the extent of any pecuniary interest he may have therein, directly or indirectly.
F6 Represents the weighted average purchase price of the warrants on such date. The warrants were acquired in multiple transactions at prices ranging from $0.46 per warrant to $0.50 per warrant. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the U.S. Securities and Exchange Commission, upon request, full information regarding the number of warrants acquired at each separate price within the ranges set forth in this footnote.
F7 Represents the weighted average purchase price of the warrants on such date. The warrants were acquired in multiple transactions at prices ranging from $0.50 per warrant to $0.52 per warrant. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the U.S. Securities and Exchange Commission, upon request, full information regarding the number of warrants acquired at each separate price within the ranges set forth in this footnote.