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

Role: 10%+ Owner
Signature: /s/ Al Kapoor, Manager of OmniLit Sponsor, LLC
Stock symbol: OLIT
Transactions as of: Nov 8, 2021
Transactions value $: $0
Form type: 3
Date filed: 11/8/2021, 08:45 PM
Next filing: Feb 1, 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		Direct	F1, F2

* 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	The shares of Class B common stock beneficially owned by the reporting person include up to 625,000 shares subject to forfeiture to the extent the underwriter of the initial public offering of the issuer's securities does not exercise in full its over-allotment option as described in the Registration Statement.

Content

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.

The shares of Class B common stock beneficially owned by the reporting person include up to 625,000 shares subject to forfeiture to the extent the underwriter of the initial public offering of the issuer's securities does not exercise in full its over-allotment option as described in the Registration Statement.