NAVIGATION CAPITAL PARTNERS, INC. - 10 Sep 2021 Form 4 Insider Report for American Virtual Cloud Technologies, Inc.

Reporting relationship: 10%+ Owner
Issuer ticker: N/A
Reported as of: 10 Sep 2021
Net transaction value: -$20.39
SEC form: 4
Accepted by SEC: 04 Oct 2021, 21:01:54 UTC
Prior SEC filing: 04 Oct 2021
Source filing: View source filing
Reporting owner signature: Navigation Capital Partners, Inc. By: /s/ Lawrence E. Mock, Managing Partner

Key filing fact

NAVIGATION CAPITAL PARTNERS, INC. filed Form 4 for American Virtual Cloud Technologies, Inc. on 04 Oct 2021.

Key facts

This page summarizes NAVIGATION CAPITAL PARTNERS, INC.'s Form 4 filing for American Virtual Cloud Technologies, Inc..
3 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 04 Oct 2021, 21:01.

Change

Previous filing in this sequence was filed on 04 Oct 2021.
Current net transaction value: -$20.39.

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

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

AVCT transaction

Common Stock

Exercise of in-the-money or at-the-money derivative security

Transaction value: $24,296
Shares: +2,429,561
Change %: +32%
Price: $0.0100^*
Shares after: 10,045,803
Date: 10 Sep 2021
Ownership: Please see footnotes
Footnotes: F1, F2, F3

AVCT transaction

Common Stock

Sale

Transaction value: $24,316
Shares: -6,079
Change %: -0.06%
Price: $4.00^*
Shares after: 10,039,724
Date: 10 Sep 2021
Ownership: Please see footnotes
Footnotes: F1, F2, F3

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

AVCT transaction Derivative

Warrants

Exercise of in-the-money or at-the-money derivative security

Transaction value: $0
Shares: -2,429,561
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 10 Sep 2021
Ownership: Please see footnotes
Underlying class: Common Stock
Underlying amount: 2,429,561
Exercise price: $0.0100
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 September 10, 2021, Navigation Capital Partners SOF I, LLC ("Investment Sub") elected to exercise each of its 24,295 warrants (each such warrant entitling the holder thereof to purchase 100 shares of the Issuer's common stock, par value $0.001 per share (the "Common Stock") at a price of $0.01 per share), and paid the exercise price on a cashless basis, resulting in the Issuer's withholding of 6,079 of the warrant shares to pay the exercise price and issuing to Investment Sub the remaining 2,423,482 shares of Common Stock. Each of the warrants were immediately exercisable and had expiration dates five years from the date of issuance (December 1, 2025, for 10,000 warrants and 79,900 warrants issued on December 1, 2020, and April 7, 2025, for 6,305 warrants issued on April 7, 2020.

Footnote F2

(continued from footnote (1)) 6,305 of the warrants were previously held by SPAC Opportunity Partners, LLC prior to being transferred to Investment Sub, and no Form 4 was filed for such transfer due to administrative error. This Form 4 is being filed late due to administrative error.

Footnote F3

The reported securities are directly held by Investment Sub, a direct wholly-owned subsidiary of SPAC Opportunity Fund I, L.P. ("SPAC Opps"), an entity controlled by Navigation Capital Partners, Inc. ("Navigation Capital" and together with SPAC Opps, the "Reporting Persons"). As a result, the Reporting Persons may be deemed to indirectly beneficially own the reported securities. The Reporting Persons each disclaim beneficial ownership of such securities except to the extent of their pecuniary interest therein.