Alok Kapoor - Nov 8, 2021 Form 3 Insider Report for OmniLit Acquisition Corp. (OLIT)

Role
Chairman and CEO, Director, 10%+ Owner
Signature
/s/ Al Kapoor
Stock symbol
OLIT
Transactions as of
Nov 8, 2021
Transactions value $
$0
Form type
3
Date filed
11/8/2021, 08:43 PM
Next filing
Nov 17, 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 OLIT Class B Common Stock Nov 8, 2021 Class A Common Stock 4.79M See Footnotes F1, F2, F3
* 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. 333-260090), as amended, under the heading "Description of Securities-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, or at any time prior thereto at the option of the holder, on a one-for-one basis, subject to certain adjustments described therein and have no expiration date.
F2 OmniLit Sponsor LLC is the record holder of the shares reported herein. Al Kapoor is the Chief Executive Officer of OmniLit Sponsor LLC. Accordingly, Al Kapoor has voting and investment discretion with respect to the shares held by OmniLit Sponsor LLC, and as such, he may be deemed to have beneficial ownership of the Class B common stock held directly by OmniLit Sponsor LLC. Al Kapoor disclaims any beneficial ownership of the reported shares other than to the extent of any pecuniary interest he may have therein, directly or indirectly.
F3 Includes up to 625,000 shares that will be surrendered for no consideration by OmniLit Sponsor, LLC depending on the extent to which the underwriters' over-allotment option is exercised.