Oxus Capital PTE. LTD. - 07 Feb 2024 Form 4 Insider Report for Oxus Acquisition Corp. (BRLS)

Role
10%+ Owner
Signature
/s/ Yuta N. Delarck, Attorney-in-Fact
Issuer symbol
BRLS
Transactions as of
07 Feb 2024
Net transactions value
$0
Form type
4
Filing time
09 Feb 2024, 17:19:29 UTC
Previous filing
02 Sep 2021
Next filing
11 Oct 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BRLS Class A Common Shares Conversion of derivative security $0 +1,912,500 +128% $0.000000 3,412,500 07 Feb 2024 Direct F2
transaction BRLS Class A Common Shares Conversion of derivative security $0 +2,189,977 +64% $0.000000 5,602,477 07 Feb 2024 Direct F3
transaction BRLS Class A Common Shares Other -200,000 -3.6% 5,402,477 07 Feb 2024 Direct F4
transaction BRLS Class A Common Shares Other -50,000 -0.93% 5,352,477 07 Feb 2024 Direct F5

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 BRLS Class B ordinary shares Disposed to Issuer $0 -750,000 -28% $0.000000 1,912,500 07 Feb 2024 Class A Common Shares 750,000 Direct F1
transaction BRLS Class B ordinary shares Conversion of derivative security $0 -1,912,500 -100% $0.000000* 0 07 Feb 2024 Class A Common Shares 1,912,500 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Oxus Capital PTE. LTD. is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 In connection with the business combination (the "Business Combination") by and among Oxus Acquisition Corp. ("Oxus"), Borealis Foods Inc. ("Borealis") and 1000397116 Ontario Inc. on February 7, 2024 (the "Closing"), immediately prior to the Closing, the Reporting Person forfeited 750,000 Class B ordinary shares of Oxus for no consideration pursuant the Sponsor Support Agreement, dated February 23, 2023, by and among the Reporting Person, Oxus and Borealis.
F2 Upon the Closing, all Class B ordinary shares of Oxus were automatically converted into Class A common shares of the Issuer on a one-for-one basis.
F3 At the Closing, the convertible notes issued by Borealis to the Reporting Person pursuant to the Note Purchase Agreement between Borealis and the Reporting Person dated as of October 21, 2022 and the Note Purchase Agreement between Borealis and the Reporting Person dated as of November 14, 2022, automatically converted into 2,189,977 Class A common shares of the Issuer.
F4 Represents securities transferred from the Reporting Person to Kanat Mynzhanov upon consummation of the Business Combination, pursuant to an incentive agreement, dated as of September 22, 2023, by and between Kanat Mynzhanov and the Reporting Person. Kanat Mynzhanov owns a membership interest in the Reporting Person, which directly owns shares of the Issuer's Class A Common Shares.
F5 Represents securities transferred from the Reporting Person to Askar Mametov upon consummation of the Business Combination, pursuant to an incentive agreement, dated as of September 22, 2023, by and between Askar Mametov and the Reporting Person.

Remarks:

See Exhibit 24.1 - Power of Attorney