Key facts
- This page summarizes Authentic Equity Sponsor LLC's Form 4 filing for Authentic Equity Acquisition Corp..
- 1 reported transaction and 1 derivative row are listed below.
- Accepted by SEC: 27 Jan 2023, 17:30.
Authentic Equity Sponsor LLC - 25 Jan 2023 Form 4 Insider Report for Authentic Equity Acquisition Corp.
- Reporting relationship
- 10%+ Owner
- Issuer ticker
- N/A
- Reported as of
- 25 Jan 2023
- Net transaction value
- $0
- SEC form
- 4
- Accepted by SEC
- 27 Jan 2023, 17:30:07 UTC
- Prior SEC filing
- 04 Aug 2021
- Source filing
- View source filing
- Reporting owner signature
- /s/ Todd Khoury as attorney-in-fact for Authentic Equity Sponsor LLC
Source evidence
Original filing metadata and source links for verification.
4 source fields
Reporting owner
1 detail
Key filing fact
Authentic Equity Sponsor LLC filed Form 4 for Authentic Equity Acquisition Corp. on 27 Jan 2023.
Change
- Previous filing in this sequence was filed on 04 Aug 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.
AEAC
transaction
Derivative
Class B Ordinary Shares
Other
- Transaction value
- Shares
- -6,924,999
- Change %
- -100%
- Price
- Shares after
- 1
- Date
- 25 Jan 2023
- Ownership
- Direct
- Underlying class
- Class A Ordinary Shares
- Underlying amount
- 6,924,999
- Exercise price
- Footnotes
- F1, F2
* marks a reported price that did not pass the local price check.
Additional SEC filing notes
Filing notes and footnotes
Section 16 status
Authentic Equity Sponsor LLC is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.
Explanation of responses 2 footnotes
Footnote F1
On January 6, 2023, the Issuer announced that it will not consummate an initial business combination within the time period required. Pursuant to the Issuer's Amended and Restated Memorandum and Articles of Association (the "Articles") and in connection with the winding up of the Issuer, the Class B ordinary shares, par value $0.0001, held by the reporting person (the "Sponsor" or the "Reporting Person") were surrendered for no compensation on January 25, 2023.
Footnote F2
This Form 4 is being filed in part by the Sponsor. There are three managers of the Sponsor's board of managers. Each manager has one vote, and the approval of a majority is required to approve an action of the Sponsor. Under the so-called "rule of three", if voting and dispositive decisions regarding an entity's securities are made by three or more individuals, and a voting or dispositive decision requires the approval of a majority of those individuals, then none of the individuals is deemed a beneficial owner of the entity's securities. This is the situation with regard to the Sponsor. Based upon the foregoing analysis, no individual manager of the Sponsor exercises voting or dispositive control over any of the securities held by the Sponsor, even those in which he directly holds a pecuniary interest. Accordingly, none of them will be deemed to have or share beneficial ownership of such shares.
SEC remarks
After giving effect to the Issuer's delisting and deregistration, the Reporting Person will no longer be subject to Section 16 reporting obligations.