Lynn Stockwell - Jul 18, 2023 Form 4 Insider Report for Bright Green Corp (BGXX)

Signature
/s/ Lynn Stockwell
Stock symbol
BGXX
Transactions as of
Jul 18, 2023
Transactions value $
$3,503,114
Form type
4
Date filed
9/6/2023, 05:17 PM
Previous filing
Jun 15, 2023
Next filing
May 28, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BGXX Common Stock Gift $0 +2.5M +3.84% $0.00 67.6M Jul 18, 2023 Direct F1
transaction BGXX Common Stock Gift $0 -978K -1.45% $0.00 66.6M Aug 22, 2023 Direct F1
transaction BGXX Common Stock Sale -$117K -250K -0.38% $0.47 66.4M Aug 31, 2023 Direct F2
transaction BGXX Common Stock Other $3.25M +2.83M +4.26% $1.15 69.2M Sep 1, 2023 Direct 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
transaction BGXX Warrant (right to buy) Other $368K +2.83M $0.13* 2.83M Sep 1, 2023 Common Stock 2.83M $3.00 Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These transactions involved a bona fide gift of securities by the Reporting Person's child to the Reporting Person and subsequent bona fide gift of securities by the Reporting Person to family members of the Report Person. No consideration was paid by or to the Reporting Person in connection with these transactions.
F2 This transaction involved an open market sale of the Issuer's Common Stock. Reflects the weighted average price of 250,000 shares of common stock of the Issuer sold by the Reporting Person in multiple transactions on August 31, 2023, with sales prices ranging from $0.4549 to $0.4823 per share. The Reporting Person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
F3 In connection with an unsecured line of credit in the form of a note (the "Note") between the Issuer and the Reporting Person, on September 1, 2023, the Issuer and the Reporting Person entered into an agreement pursuant to which the Issuer issued to the Reporting Person (i) 2,827,960 shares (the "Shares") of the Issuer's common stock at a conversion price of $1.15 per share, and (ii) warrants (the "Warrants") to purchase up to 2,827,960 shares of the Issuer's common stock at a conversion price of $0.13 per warrant. The issuance of the Shares and the Warrants was made to settle all amounts of principal interests and other costs under the Note as of August 31, 2023 (the "Repayment Obligation").
F4 The Warrants are exercisable immediately upon issuance at an exercise price of $3.00 per share, and shall expire on the earlier of (i) the date that is 45 days after the closing price of the Common Stock on the Nasdaq Capital Market equals or exceeds $3.00 per share, and (ii) August 31, 2024.