OmniLit Sponsor, LLC - Jan 31, 2023 Form 4 Insider Report for OmniLit Acquisition Corp. (OLIT)

Role: 10%+ Owner
Signature: /s/ Al Kapoor Managing Member of OmniLit Sponsor LLC
Stock symbol: OLIT
Transactions as of: Jan 31, 2023
Transactions value $: $0
Form type: 4
Date filed: 2/1/2023, 12:12 PM
Previous filing: Nov 8, 2021
Next filing: Apr 5, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	OLIT	Class A Common Stock	Conversion of derivative security	$0	+1M		$0.00	1M	Jan 31, 2023	by OmniLit Sponsor LLC	F2

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	OLIT	Class B Common Stock	Conversion of derivative security	$0	+1M		$0.00^*	0	Jan 31, 2023	Class A Common Stock	1M	$0.00	by OmniLit Sponsor LLC	F1, F2

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

Explanation of Responses:

Id	Content
F1	Per amendment to the Amended and Restated certificate of incorporation, Class B Common Stock of the Company ("Founder Shares") have the right to convert into Class A Common Stock on a one-for-one basis prior to the closing of a business combination at the election of the holder.
F2	These shares are owned directly by OmniLit Sponsor LLC, a ten percent owner of the issuer, and indirectly by its managing member, Al Kapoor. 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.

Content

Per amendment to the Amended and Restated certificate of incorporation, Class B Common Stock of the Company ("Founder Shares") have the right to convert into Class A Common Stock on a one-for-one basis prior to the closing of a business combination at the election of the holder.

These shares are owned directly by OmniLit Sponsor LLC, a ten percent owner of the issuer, and indirectly by its managing member, Al Kapoor. 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.