Finnovate Sponsor L.P. - 08 May 2023 Form 3/A - Amendment Insider Report for Finnovate Acquisition Corp. (FNVTF)

Role: 10%+ Owner
Signature: Sunorange Limited, By: /s/ Calvin Kung, Director
Issuer symbol: FNVTF
Transactions as of: 08 May 2023
Net transactions value: $0
Form type: 3/A - Amendment
Filing time: 08 Jun 2023, 21:20:21 UTC
Date Of Original Report: 03 Nov 2021
Previous filing: 03 Nov 2021
Next filing: 08 Jan 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	FNVT	Class A Ordinary Share						4,237,499	08 May 2023	See footnote	F1, F3

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	FNVT	Class B Ordinary Share							08 May 2023	Class A Ordinary Share	1		See footnote	F2, F3

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

Explanation of Responses:

Id	Content
F1	These shares represent the Class A ordinary shares held by Finnovate Sponsor, LP (the "Sponsor"). The Sponsor acquired these shares pursuant to a subscription agreement dated March 21, 2021 by and between the Sponsor and the Issuer. Such shares were converted from Class B ordinary shares to Class A ordinary shares.
F2	The Class B ordinary share is convertible into Class A ordinary share on a one-for-one basis, subject to certain adjustment, automatically upon the Issuer's initial business combination, or earlier at the election of the holder, and has no expiration date.
F3	The Ordinary Shares reported herein are held by the Sponsor. Sunorange Limited ("Sunorange") is the general partner of the Sponsor pursuant to that certain investment agreement dated April 27, 2023, by and among the Issuer, the Sponsor and Sunorange. Messrs. Calvin Kung and Wang Chiu Wong serve as directors of Sunorange. The Reporting Persons have voting and investment discretion with respect to the securities held by the Sponsor. As such, the Reporting Persons may be deemed to share beneficial ownership of the Ordinary Shares held directly by the Sponsor. The Reporting Persons disclaim any beneficial ownership of the reported shares other than to the extent of any pecuniary interest he may have therein, directly or indirectly.

Remarks:

This amendment to the Form 3 is being filed solely to add Sunorange as a Reporting Person and to disclose the Investment Agreement and the conversion of Class B ordinary shares to Class A ordinary shares.