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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Warrants | $ 0.4125 | 01/04/2022 | P | 606,060 | 01/04/2022 | 01/04/2025 | Common Stock | 606,060 | $ 0.4125 | 28,758,914 | I | See Remark(1) and Footnotes (1) (2) |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Navy Capital Green Management LLC 28 REICHERT CIRCLE WESTPORT, CT 06880 |
X | |||
Navy Capital Green Management Partners LLC 28 REICHERT CIRCLE WESTPORT, CT 06880 |
X | |||
Navy Capital Green Fund, LP 28 REICHERT CIRCLE WESTPORT, CT 06880 |
X | |||
Navy Capital Green Co-Invest Fund, LLC 28 REICHERT CIRCLE WESTPORT, CT 06880 |
X | |||
Navy Capital Green Co-Invest Partners LLC 28 REICHERT CIRCLE WESTPORT, CT 06880 |
X | |||
Kaden John C/O NAVY CAPITAL GREEN MANAGEMENT LLC 28 REICHERT CIRCLE WESTPORT, CT 06880 |
X | |||
Stiefel Sean C/O NAVY CAPITAL GREEN MANAGEMENT LLC 28 REICHERT CIRCLE WESTPORT, CT 06880 |
X | |||
GULATI CHETAN C/O NAVY CAPITAL GREEN MANAGEMENT LLC 28 REICHERT CIRCLE WESTPORT, CT 06880 |
X |
/s/ John Kaden, Manager of Navy Capital Green Management, LLC | 01/07/2022 | |
**Signature of Reporting Person | Date | |
/s/ Sean Stiefel, Manager of Navy Capital Green Management, LLC | 01/07/2022 | |
**Signature of Reporting Person | Date | |
/s/ Chetan Gulati, Manager of Navy Capital Green Management, LLC | 01/07/2022 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | This amount reflects the amount of derivative securities held by the Fund and the Co-Investment Fund immediately following the transaction requiring the filing of this statement. The transaction was a private placement purchase in which the Fund purchased a $500,000 unsecured, non-convertible promissory note and warrants to purchase 606,060 shares of Common Stock, with an exercise price of $0.4125 per share of Common Stock. No additional consideration was paid for the warrants. In accordance with Instruction 5(b)(iv) of Form 3, the entire amount of the Issuer's derivative securities held by the Fund and Co-Investment Fund is reported herein. |
(2) | Footnote (1) continued: Each of the Investment Manager, NCG, NCGP, John Kaden, Chetan Gulati and Sean Stiefel disclaims, for purposes of Section 16 of the Securities Exchange Act of 1934, beneficial ownership of such securities, except to the extent of his/its indirect pecuniary interest therein, and this report shall not be deemed an admission that either the Investment Manager, NCG, NCGP, John Kaden, Chetan Gulati and Sean Stiefel are the beneficial owner of such securities for purposes of Section 16 or for any other purposes. |
Remarks: Remark (1): This Form 4 is being filed by Navy Capital Green Management, LLC (the " Investment Manager") on behalf of itself and Navy Capital Green Management Partners, LLC ("NCG"), Navy Capital Green Fund, LP (the "Fund"), Navy Capital Green Co-Invest Fund, LLC (the "Co-Investment Fund"), Navy Capital Green Co-Invest Partners, LLC ("NCGP"), John Kaden, Chetan Gulati and Sean Stiefel. John Kaden, Chetan Gulati and Sean Stiefel are the managers of the Investment Manager, NCG, and NCGP. NCG is the general partner of the Fund and NCGP is the manager of the Co-Investment Fund. |