Mark N. Tompkins - Jul 31, 2023 Form 4 Insider Report for Patricia Acquisition Corp. (NONE)

Role
Former Director
Signature
/s/ Mark N. Tompkins
Stock symbol
NONE
Transactions as of
Jul 31, 2023
Transactions value $
$0
Form type
4
Date filed
8/2/2023, 09:59 PM
Previous filing
Jan 13, 2023
Next filing
Nov 5, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NONE Common Stock Conversion of derivative security +313K +6.58% 5.06M Jul 31, 2023 Direct F1
transaction NONE Common Stock Other $0 -3.38M -66.67% $0.00 1.69M Jul 31, 2023 Direct 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 NONE Warrants (Right to Buy) Award +156K 156K Jul 31, 2023 Common stock 156K $3.20 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Mark N. Tompkins is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Upon closing of the reverse triangular merger of the Issuer's subsidiary (the "Merger") with Serve Robotics Inc. ("Legacy Serve"), $1,000,000 principal amount of Legacy Serve's 10% Senior Subordinated Secured Convertible Notes, purchased by the reporting person under a Securities Purchase Agreement, dated April 21, 2023 (the "Bridge SPA"), with Legacy Serve, converted by their terms into shares of common stock of the Issuer at a conversion price of $3.20 per share.
F2 As a condition under the terms of an Agreement and Plan of Merger and Reorganization, dated as of July 31, 2023, and pursuant to the terms of a stock cancellation agreement, the reporting person voluntarily surrendered and cancelled for no consideration 3,375,000 shares of Issuer's common stock prior to the consummation of the Merger. The reporting person resigned as a director of the Issuer upon consummation of the Merger.
F3 Immediately exercisable. Received upon closing of the Merger in accordance with the terms of the Bridge SPA. Pursuant to the terms of the Bridge SPA, each holder of a Legacy Serve 10% Senior Subordinated Secured Convertible Note was entitled to receive warrants to purchase 50% of the number of shares of common stock into which the 10% Senior Subordinated Secured Convertible Note converted.