Parsec Acquisitions Sponsor, LLC - Dec 14, 2021 Form 4 Insider Report for Parsec Capital Acquisitions Corp. (PCXCU)

Role: 10%+ Owner
Signature: /s/ Parsec Acquisitions Sponsor, LLC, /s/ Patricia Trompeter, Managing Member
Stock symbol: PCXCU
Transactions as of: Dec 14, 2021
Transactions value $: $0
Form type: 4
Date filed: 12/15/2021, 05:28 PM
Previous filing: Oct 25, 2021

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	PCXCU	Warrants	Sale		-3.59M	-82.26%		775K	Dec 14, 2021	Class A common stock, par value $0.0001 per share	3.59M	$11.50	Direct	F1, F2, F3
transaction	PCXCU	Class B common stock, par value $0.0001 per share	Sale		-1.66M	-86.89%		250K	Dec 14, 2021	Class A common stock, par value $0.0001 per share	1.66M		Direct	F1, F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The Reporting Person distributed shares of the Issuer to members of Parsec Acquisitions Sponsor, LLC.
F2	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.
F3	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).
F4	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.