SEC Form 4 · accession 0001615774-17-004130
PENSARE ACQUISITION Corp · WRLS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
PENSARE SPONSOR GROUP, LLC
10% Owner
Period of report
Aug 4, 2017
Accepted (ET)
Aug 7, 2017 · 9:49 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001704760
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | holding | — | — | — | 5,818,500 | 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 WarrantsF2,F3,F1 | $11.50 | Aug 4, 2017 | P | 867,290 | A | — | — | Common Stock | 867,290 | 7,017,290 | D |
Explanation of responses
- F1The securities are held directly by Pensare Sponsor Group, LLC and indirectly by Darrell J. Mays, who is the managing member of Pensare Sponsor Group, LLC. Lawrence E. Mock, Jr., Dr. Robert Willis and John Foley hold economic interests in Pensare Sponsor Group, LLC and pecuniary interests in the securities held by Pensare Sponsor Group, LLC. Each of Messrs. Mays, Mock and Foley and Dr. Willis disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.
- F2Each warrant will become exercisable on the later of 30 days after the completion of the Issuer's initial business combination or twelve months from the date on which the Issuer's initial public offering closed.
- F3Each warrant will expire on the fifth anniversary of the Issuer's completion of an initial business combination, or earlier upon redemption or liquidation.