SEC Form 4 · accession 0001615774-18-007157
Greenland Acquisition Corp. · GTEC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owners
Greenland Asset Management Corp
10% Owner
Liu Yanming
Officer — CEO · Director · 10% Owner
Period of report
Jul 27, 2018
Accepted (ET)
Jul 31, 2018 · 6:17 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001735041
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Ordinary SharesF1,F2 | Jul 27, 2018 | P | 260,000 | $10.00 | A | 1,410,000 | D | |
| Ordinary SharesF2 | Jul 27, 2018 | J | 50,000 | $0.00 | D | 1,360,000 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1These shares are underlying units (each unit consisting of one ordinary share, one right entitling the holder thereof to receive one-tenth (1/10) of one share upon the consummation of an initial business combination and one warrant, each warrant exercisable to purchase one-half of one share) held by Greenland Asset Management Corporation (the "Sponsor"), acquired pursuant to a unit subscription agreement by and between the Sponsor and the issuer.
- F2The shares held by the Sponsor are beneficially owned by Yanming Liu, the issuer's Chief Executive Officer and the managing member of the Sponsor, who has sole voting and dispositive power over the shares held by the Sponsor. Mr. Liu beneficial ownership over any securities owned by the Sponsor in which he does not have any pecuniary interest.
- F3As contemplated in connection with the initial public offering of the issuer, 50,000 ordinary shares of the issuer were returned by the Sponsor to the issuer for no consideration and cancelled because the underwriters' over-allotment option was not exercised in full.