SEC Form 4 · accession 0001144204-17-004827
Axar Acquisition Corp. · AXAR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Yoav Wiegenfeld
Officer — Chief Acquisitions Officer
Period of report
Jan 26, 2017
Accepted (ET)
Jan 30, 2017 · 7:13 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001615892
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jan 26, 2017 | P$0 | 1,189,565 | — | A | 1,189,565 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Private Placement Warrants (Right to Buy)F1,F2,F3 | $12.50 | Jan 26, 2017 | P | 1,310,000 | A | — | — | Common Stock | 1,310,000 | 1,310,000 | D |
Explanation of responses
- F1Pursuant to the terms of the Securities Purchase Agreement, dated as of January 26, 2017, by and between the Reporting Person and Axar Master Fund Ltd. ("Axar"), the Reporting Person purchased such shares of Common Stock and Private Placement Warrants from Axar for an aggregate of $2.00 and, upon the closing of the Issuer's initial business combination, will pay to Axar an additional $200,000.00.
- F2The Private Placement Warrants will become exercisable 30 days after the completion of the Issuer's initial business combination.
- F3The Private Placement Warrants will expire five years after the date on which they first become exercisable, at 5:00 p.m., New York time, or earlier upon redemption or liquidation.