Key facts
- This page summarizes 1P Management LLC's Form 4 filing for Logistics Innovation Technologies Corp..
- 1 reported transaction and 1 derivative row are listed below.
- Accepted by SEC: 20 Jun 2023, 14:08.
1P Management LLC - 15 Jun 2023 Form 4 Insider Report for Logistics Innovation Technologies Corp.
- Reporting relationship
- Director, 10%+ Owner
- Issuer ticker
- N/A
- Reported as of
- 15 Jun 2023
- Net transaction value
- $0
- SEC form
- 4
- Accepted by SEC
- 20 Jun 2023, 14:08:54 UTC
- Prior SEC filing
- 26 Jul 2021
- Source filing
- View source filing
- Reporting owner signature
- /s/ Christina Min, Attorney-in-Fact for 1P Management LLC
Source evidence
Original filing metadata and source links for verification.
4 source fields
Reporting owner
1 detail
Key filing fact
1P Management LLC filed Form 4 for Logistics Innovation Technologies Corp. on 20 Jun 2023.
Change
- Previous filing in this sequence was filed on 26 Jul 2021.
- Current net transaction value: $0.
Research use
- This tells you what this filing adds before you inspect full transaction and derivative tables.
- You can trace every row back to the original SEC filing document.
Evidence
Filed on Form 4
View source filing
Ownership activity is grounded in SEC Form 4 disclosures.
Reported derivative securities
Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.
LITT
transaction
Derivative
Class B Common Stock
Disposed to Issuer
- Transaction value
- $0
- Shares
- -7,305,200
- Change %
- -100%
- Price
- $0.000000*
- Shares after
- 0
- Date
- 15 Jun 2023
- Ownership
- Direct
- Underlying class
- Class A Common Stock
- Underlying amount
- 7,305,200
- Exercise price
- Footnotes
- F1, F2, F3
* marks a reported price that did not pass the local price check.
Additional SEC filing notes
Filing notes and footnotes
Explanation of responses 3 footnotes
Footnote F1
On May 26, 2023, the Issuer announced that its board of directors had determined to redeem all of its outstanding shares of Class A common stock sold in the Issuer's initial public offering (the "Public Shares"), effective as of June 15, 2023, because the Issuer will not be able to consummate an initial business combination within the time period required by its amended and restated certificate of incorporation. As of the close of business on June 15, 2023, the Public Shares were deemed cancelled and represented only the rights to receive the per-share redemption price. In connection with the redemption of the Public Shares and anticipated dissolution of the Issuer, on June 15, 2023, 1P Management LLC ("1P") forfeited to the Issuer for no consideration 7,305,200 shares of Class B common stock and 5,361,412 warrants.
Footnote F2
The shares of Class B common stock are convertible for shares of the Issuer's Class A common stock as described under the heading "Description of Securities" in the Issuer's Registration Statement on Form S-1 (File No. 333- 253949) (the "Registration Statement") and have no expiration date.
Footnote F3
1P is the record holder of the securities reported herein. Isaac Applbaum is the manager of 1P Management, LLC and has voting and investment discretion with respect to the securities held of record by 1P.
SEC remarks
See Exhibit 99.1 - Joint Filer Information, which is incorporated herein by reference and describes in further detail the relationships of the Reporting Persons to the Issuer.