SEC Form 4 · accession 0000930413-16-008158
Garnero Group Acquisition Co · GGAC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Marilyn Rubenstein
10% Owner
Period of report
Jul 26, 2016
Accepted (ET)
Sep 9, 2016 · 5:07 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001603969
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Ordinary SharesF1,F2,F3 | Jul 26, 2016 | J | 150,000 | $10.05 | D | 0 | I | By Spouse |
| Ordinary SharesF1,F3,F4 | Jul 26, 2016 | J | 100,000 | $10.05 | D | 0 | I | By Woodland Partners |
| Ordinary SharesF1,F3,F5 | Jul 26, 2016 | J | 200,000 | $10.05 | D | 0 | I | By Woodland Venture Fund |
| Ordinary SharesF1,F3,F6 | Jul 26, 2016 | J | 200,000 | $10.05 | D | 0 | I | By Seneca Ventures |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WarrantsF1,F7,F3,F4 | $11.50 | holding | — | — | — | — | — | Ordinary Shares | 13,400 | 0 | I |
Explanation of responses
- F1In the Issuer's Form 8-K filed with the Securities and Exchange Commission on July 22, 2016, the Issuer advised that (i) its corporate existence will terminate as of July 22, 2016 except for purposes of winding up its affairs and liquidating, (ii) its share transfer books will be closed as of July 23, 2016, and (iii) as soon as practicable, it will liquidate and distribute approximately $10.05 per share to the holders of Ordinary Shares issued in the Issuer's initial public offering.
- F2Held by the Barry Rubenstein Rollover IRA account.
- F3The reporting person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein.
- F4Held by Woodland Partners. Mrs. Rubenstein is a general partner of Woodland Partners.
- F5Held by Woodland Venture Fund. Mrs. Rubenstein is an officer of Woodland Services Corp., a general partner of Woodland Venture Fund.
- F6Held by Seneca Ventures. Mrs. Rubenstein is an officer of Woodland Services Corp., a general partner of Seneca Ventures.
- F7The Warrants expire at zero value upon liquidation of the Issuer. Each Warrant entitled the holder to purchase one-half of an Ordinary Share.