Healthwell Acquisition Corp. I Sponsor LLC - 21 Jul 2023 Form 4 Insider Report for Healthwell Acquisition Corp. I

Role: 10%+ Owner
Signature: Healthwell Acquisition Corp. I Sponsor LLC By: /s/ Alyssa J. Rapp, Manager By: /s/ John L. MacCarthy, Manager
Issuer symbol: N/A
Transactions as of: 21 Jul 2023
Net transactions value: $0
Form type: 4
Filing time: 25 Jul 2023, 17:45:02 UTC
Previous filing: 20 Sep 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	HWEL	Class A Common Stock	Conversion of derivative security		+6,249,999			6,249,999	21 Jul 2023	Direct	F1, F2

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	HWEL	Class B Common Stock	Conversion of derivative security		-6,249,999	-100%		1	21 Jul 2023	Class A Common Stock	6,249,999		Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	The shares of Class B common stock, par value $0.0001 per share, of the Issuer ("Class B Common Stock") are convertible into an equal number of shares of Class A common stock, par value $0.0001 per share, of the Issuer ("Class A Common Stock"). On July 21, 2023, Healthwell Acquisition Corp. I Sponsor LLC (the "Sponsor") elected to convert 6,249,999 shares of their Class B Common Stock into an equal number of shares of Class A Common Stock.
F2	The securities are held directly by the Sponsor and indirectly by Alyssa Rapp, who serves as the Chief Executive Officer and a director of the Issuer, and John L. MacCarthy, who serves as a director of the Issuer, and who directly control the Sponsor. Certain of the Issuer's other directors and officers hold economic interests in the Sponsor and pecuniary interests in certain of the securities held by the Sponsor. Each of Ms. Rapp and Mr. MacCarthy and such other directors and officers disclaims beneficial ownership of such securities except to the extent of his or her pecuniary interest therein.

Content

The shares of Class B common stock, par value $0.0001 per share, of the Issuer ("Class B Common Stock") are convertible into an equal number of shares of Class A common stock, par value $0.0001 per share, of the Issuer ("Class A Common Stock"). On July 21, 2023, Healthwell Acquisition Corp. I Sponsor LLC (the "Sponsor") elected to convert 6,249,999 shares of their Class B Common Stock into an equal number of shares of Class A Common Stock.

The securities are held directly by the Sponsor and indirectly by Alyssa Rapp, who serves as the Chief Executive Officer and a director of the Issuer, and John L. MacCarthy, who serves as a director of the Issuer, and who directly control the Sponsor. Certain of the Issuer's other directors and officers hold economic interests in the Sponsor and pecuniary interests in certain of the securities held by the Sponsor. Each of Ms. Rapp and Mr. MacCarthy and such other directors and officers disclaims beneficial ownership of such securities except to the extent of his or her pecuniary interest therein.