Level Field Capital, LLC - Jun 13, 2022 Form 4 Insider Report for Landsea Homes Corp (LSEA)

Role
10%+ Owner
Signature
/s/ Elias Farhat, Member, Level Field Capital, LLC
Stock symbol
LSEA
Transactions as of
Jun 13, 2022
Transactions value $
$8,338,800
Form type
4
Date filed
6/16/2022, 01:37 PM

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 LSEA Warrants to Purchase Common Stock Sale $8.34M +2.78M $3.00 0 Jun 13, 2022 Common Stock 2.78M $11.50 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Level Field Capital, LLC is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 These warrants were issued to Level Field Capital, LLC in a private placement in connection with the initial public offering of the Issuer on June 22, 2018 (the "Private Placement Warrants"). Level Field Capital, LLC acquired beneficial ownership of the warrants in connection with the consummation of the Business Combination on January 7, 2020. Each warrant becomes exercisable 30 days after the completion of the business combination and expires five years after the completion of the business combination or earlier upon redemption or liquidation. Each warrant is exercisable for one share of Class A common stock at an exercise price of $11.50 per share, subject to adjustment.
F2 Level Field Capital, LLC sold 2,779,600 warrants to Landsea Homes Corp (the "Issuer").