Leonard M. Tannenbaum - Apr 28, 2022 Form 4 Insider Report for AFC BDC Inc. (NONE)

Role
Chief Executive Officer
Signature
/s/ Gabriel A. Katz, attorney-in-fact for Leonard M. Tannenbaum
Stock symbol
NONE
Transactions as of
Apr 28, 2022
Transactions value $
$8,350,000
Form type
4
Date filed
5/2/2022, 09:54 PM
Previous filing
Apr 6, 2022
Next filing
May 13, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NONE Common Stock Other $7.35M +368K $20.00* 368K Apr 28, 2022 Direct F1
transaction NONE Common Stock Other $1M +50K $20.00* 50K Apr 28, 2022 By the Tannenbaum Family 2012 Trust F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These shares of Common Stock were acquired pursuant to an Agreement and Plan of Merger, by and among the AFC BDC Warehouse LLC and AFC BDC Inc., under which each share of AFC BDC Warehouse LLC converted automatically into a pro rata share (based on each member's percentage interest in AFC BDC Warehouse LLC, adjusted downward for fractional shares) of AFC BDC Inc., effective as of 12:01 p.m. on April 28, 2022.
F2 Reflects shares held by the Tannenbaum Family 2012 Trust. Mr. Tannenbaum disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission for purposes of Section 16 or any other purpose.

Remarks:

Gabriel A. Katz is signing on behalf of Mr. Tannenbaum pursuant to the power of attorney dated April 4, 2022, which was previously filed with the Securities and Exchange Commission as an exhibit to the Form 3 Mr. Tannenbaum filed on April 6, 2022.