Benjamin Kao - Jan 30, 2023 Form 4 Insider Report for Thrive Acquisition Corp (THAC)

Role
President, Director, 10%+ Owner
Signature
/s/ Benjamin Kao
Stock symbol
THAC
Transactions as of
Jan 30, 2023
Transactions value $
$0
Form type
4
Date filed
3/2/2023, 12:07 PM
Previous filing
Oct 20, 2021

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 THAC Class B Ordinary Shares Other -3.15M -100% 1 Jan 30, 2023 Class A Ordinary Shares 3.15M See Footnote F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Benjamin Kao is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 On January 18, 2023, the Issuer announced that it will not consummate an initial business combination within the time period required. Pursuant to the Issuer's Amended and Restated Memorandum and Articles of Association and in connection with the winding up of the Issuer, the 3,154,667 Class B ordinary shares, par value $0.0001, held by the Thrive Acquisition Sponsor LLC (the "Sponsor") were surrendered for no compensation on January 30, 2023.
F2 The Sponsor is the record holder of the reported securities. The Reporting Person shares control of the Sponsor. As a result, the Reporting Person may be deemed to share beneficial ownership of the shares held by the Sponsor. The Reporting Person disclaims any beneficial ownership of the securities held by the Sponsor other than to the extent of his pecuniary interest therein.

Remarks:

After giving effect to the Issuer's delisting and deregistration, the Reporting Person is no longer subject to Section 16 reporting obligations.