Finnovate Sponsor L.P. - May 8, 2023 Form 3/A - Amendment Insider Report for Finnovate Acquisition Corp. (FNVT)

Role
10%+ Owner
Signature
Sunorange Limited, By: /s/ Calvin Kung, Director
Stock symbol
FNVT
Transactions as of
May 8, 2023
Transactions value $
$0
Form type
3/A - Amendment
Date filed
6/8/2023, 09:20 PM
Date Of Original Report
Nov 3, 2021
Previous filing
Nov 3, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding FNVT Class A Ordinary Share 4.24M May 8, 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 May 8, 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.