SEC Form 3 · accession 0001094891-18-000160
Long Blockchain Corp. · LBCC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Andrew Stranberg
10% Owner
Period of report
Jul 26, 2018
Accepted (ET)
Aug 6, 2018 · 4:13 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001629261
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | holding | — | — | — | 1,718,799 | D | ||
| Common StockF1,F2 | holding | — | — | — | 2,500,000 | I | By Stran & Company, Inc. |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Warrant | $2.40 | holding | — | — | — | Oct 4, 2017 | Oct 4, 2018 | Common Stock | 70,000 | — | D |
| Warrant | $0.50 | holding | — | — | — | Jul 26, 2018 | Jul 26, 2021 | Common Stock | 450,000 | — | D |
| Option (right to buy)F3 | $0.40 | holding | — | — | — | Jul 26, 2018 | Jul 31, 2019 | Common Stock | — | — | D |
| Option (right to buy)F3 | — | holding | — | — | — | Jul 26, 2018 | Jul 31, 2019 | Warrants | — | — | D |
Explanation of responses
- F1Includes up to 2,500,000 shares of common stock that are subject to forfeiture if the net revenue of the Issuer's subsidiary, Stran Loyalty Group Inc., for the 12 months ending July 31, 2019 is less than a certain threshold.
- F2The reporting person is the sole shareholder of Stran & Company, Inc., and holds sole voting and dispositve power over the shares held by Stran & Company, Inc.
- F3The reporting person has the right to purchase up to 1,500,000 shares of the issuer's common stock at a price of $0.40 per share and, if such right is exercised, will receive a warrant to purchase at a price of $0.50 per share such additional number of shares of common stock equal to 30% of the number of shares of common stock purchased pursuant to the option.