Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
transaction | AAQC | Class B common stock | Disposed to Issuer | $0 | -9.85M | -100% | $0.00* | 0 | Dec 23, 2022 | Class A common stock | 9.85M | Direct | F1, F2, F3 |
Accelerate Acquisition Sponsor LLC is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.
Id | Content |
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F1 | As described in the registration statement on Form S-1 (File No. 333-253764) under the heading "Description of Securities--Founder Shares", the shares of Class B common stock, par value $0.0001 per share, of Accelerate Acquisition Corp. (the "Issuer") would have automatically converted into shares of Class A common stock, par value $0.0001 per share, of the Issuer 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 and have no expiration date. |
F2 | This Form 4 reflects the surrender to the Issuer of 9,850,000 Class B Shares for no consideration by the Reporting Person pursuant to the Share Forfeiture Letter, dated December 15, 2022 by and between the Issuer and the Reporting Person. |
F3 | Accelerate Acquisition Sponsor LLC (the "Sponsor") is the record holder of the shares reported herein. The Sponsor is managed by a board of managers consisting of Robert Nardelli, Michael Simoff and Jeffrey Kaplan. Any action by the Sponsor with respect to the Issuer or the shares of Class B common stock, including voting and dispositive decisions, requires a majority vote of the managers of the board of managers. Under the so-called "rule of three," because voting and dispositive decisions are made by a majority of the Sponsor's managers, none of the managers of the Sponsor is deemed to be a beneficial owner of the Sponsor's securities, even those in which such manager holds a pecuniary interest. |