Patricia Trompeter - Oct 8, 2021 Form 3 Insider Report for Parsec Capital Acquisitions Corp. (PCXCU)

Role
Chief Executive Officer, Director
Signature
/s/ Patricia Trompeter
Stock symbol
PCXCU
Transactions as of
Oct 8, 2021
Transactions value $
$0
Form type
3
Date filed
10/25/2021, 10:01 AM
Next filing
Jan 3, 2023

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
holding PCXCU Class B common stock, par value $0.0001 per share Oct 8, 2021 Class A common stock, par value $0.0001 per share 60K Direct F1
holding PCXCU Warrants Oct 8, 2021 Class A common stock, par value $0.0001 per share 36K $11.50 Direct F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 As described in the issuer's registration statement on Form S-1 (File No. 333-257766) under the heading "Founder Shares", the shares of Class B common stock will automatically convert into shares of Class A common stock at the time of the Issuer's initial business combination on a one-for-one basis, subject to certain adjustments described therein and have no expiration.
F2 Pursuant to a private placement, Parsec Capital Acquisitions Sponsor, LLC (the "Sponsor") agreed to purchase 4,518,750 placement warrants at a price of $1.00 per warrant for an aggregate purchase price of $4,518,750. The Sponsor transferred 36,000 placement warrants to the Reporting Person.
F3 The warrants will become exercisable on the later of (i) October 5, 2022, which is one year after the date that the registration statement was declared effective by the SEC; and (ii) the 30 days after the consummation by the Issuer of a business combination.
F4 The warrants expire at 5:00 p.m., New York City time on the earlier to occur of: (x) the date that is five (5) years after the date on which the Issuer completes its business combination, (y) the liquidation of the Issuer in accordance with the Issuer's amended and restated certificate of incorporation, as amended and/or restated from time to time, if the Issuer fails to complete a business combination, or (z) the redemption date (as defined the Private Placement Warrant Purchase Agreement).