4//SEC Filing
Pillai Sajan 4
Accession 0001213900-21-057861
CIK 0001851625other
Filed
Nov 8, 7:00 PM ET
Accepted
Nov 9, 8:17 PM ET
Size
9.0 KB
Accession
0001213900-21-057861
Insider Transaction Report
Form 4
Pillai Sajan
DirectorChairman and CEO
Transactions
- Other
Class B Common Stock
2021-11-05$5687250.00/sh+2,906,018$16,527,250,870,500→ 2,906,018 total(indirect: See Footnote) - Other
Warrants
2021-11-05$5687250.00/sh+5,012,250$28,505,918,812,500→ 5,012,250 total(indirect: See Footnote)Exercise: $11.50→ Common Stock (5,012,250 underlying)
Footnotes (4)
- [F1]As described in the Issuer's registration statement on Form S-1 (File No. 333-259339) (the "Registration Statement") under the heading "Description of Securities," the shares of Class B common stock, par value $0.0001 per share ("Class B Common Stock") of the Issuer, will automatically convert into shares of Class A common stock, par value $0.0001 per share, ("Class A Common Stock") at the time of the issuer's initial business combination, on a one-for-one basis, subject to certain adjustments described therein.
- [F2]Mr. Pillai has an indirect pecuniary interest in shares of Class B Common Stock and warrants to purchase Class A Common Stock through his ownership of membership interests of McLaren Technology Acquisition Sponsor LLC (the "Sponsor"). Pursuant to a Subscription Agreement entered into on November 5, 2021, by and between the Sponsor and Mr. Pillai, Mr. Pillai made a capital contribution to the Sponsor in the amount of $5,687,250 and the Sponsor allocated 2,906,018 shares of Class B Common Stock and 5,012,250 warrants of the Issuer to Mr. Pillai, which the Sponsor owns. Mr. Pillai, the Chairman and Chief Executive Officer of the Issuer, is the controlling shareholder of McLaren Strategic Ventures Holdings, Inc., the managing member of the Sponsor, and may be deemed to beneficially own all of the Issuer's securities owned by the Sponsor. Mr. Pillai disclaims any such beneficial ownership except to the extent of his pecuniary interest.
- [F3]Each warrant will become exercisable on the later of 30 days after the completion of the Issuer's initial business combination or November 5, 2022.
- [F4]Each warrant will expire five years after the completion of the Issuer's initial business combination.
Documents
Issuer
McLaren Technology Acquisition Corp.
CIK 0001851625
Entity typeother
Related Parties
1- filerCIK 0001861669
Filing Metadata
- Form type
- 4
- Filed
- Nov 8, 7:00 PM ET
- Accepted
- Nov 9, 8:17 PM ET
- Size
- 9.0 KB