SEC Form 4 · accession 0001094891-16-000540
Arowana Inc. · ARWA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kevin Chin
Officer — Chairman and CEO · Director · 10% Owner
Period of report
Jun 30, 2016
Accepted (ET)
Jun 30, 2016 · 7:59 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001622577
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Ordinary SharesF1 | Jun 30, 2016 | P | 408,878 | $0.012 | A | 1,236,857 | I | by The Panaga Group Trust |
| Ordinary SharesF2,F1 | Jun 30, 2016 | P | 56,000 | $10.00 | A | 179,281 | I | by The Panaga Group Trust |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Right to Receive Ordinary ShareF2,F1,F3,F4 | — | Jun 30, 2016 | P | 56,000 | A | — | — | Ordinary Share | 5,600 | 179,281 | I |
| Redeemable WarrantF2,F1,F5,F6,F7 | — | Jun 30, 2016 | P | 56,000 | A | — | — | Ordinary Share | 28,000 | 179,281 | I |
Explanation of responses
- F1Mr. Chin is a beneficiary of The Panaga Group Trust and one of the directors of the corporate trustee of such fund. Accordingly, he may be deemed to have voting and dispositive power over the shares held by this entity. Mr. Chin disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that Mr. Chin is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.
- F2Represents securities underlying units of the Issuer ("Unit"). Each Unit consists of one ordinary share, one right ("Right") to receive one-tenth of one ordinary share upon the consummation of the Issuer's initial business combination and one redeemable warrant ("Warrant") entitling the holder to purchase one-half of one ordinary share.
- F3Each Right entitles the holder to receive one-tenth (1/10) of one ordinary share upon consummation of the Issuer's initial business combination.
- F4If the Issuer fails to consummate an initial business combination within eighteen (18) months from the closing of the Issuer's initial public offering, the Issuer will be dissolved and the Rights will expire worthless.
- F5Each Warrant entitles the holder thereof to purchase one-half of one ordinary share at a price of $12.50 per full share, exercisable in multiples of two.
- F6Each Warrant will become exercisable on the completion of an initial business combination.
- F7Each Warrant will expire five years after the completion of an initial business combination, or earlier upon redemption.