4//SEC Filing
Applbaum Isaac 4
Accession 0001213900-23-049964
CIK 0001848364other
Filed
Jun 19, 8:00 PM ET
Accepted
Jun 20, 2:08 PM ET
Size
13.8 KB
Accession
0001213900-23-049964
Insider Transaction Report
Form 4
1P Management LLC
Director10% Owner
Transactions
- Disposition to Issuer
Class B Common Stock
2023-06-15−7,305,200→ 0 total→ Class A Common Stock (7,305,200 underlying)
Applbaum Isaac
10% Owner
Transactions
- Disposition to Issuer
Class B Common Stock
2023-06-15−7,305,200→ 0 total→ Class A Common Stock (7,305,200 underlying)
Footnotes (3)
- [F1]On May 26, 2023, the Issuer announced that its board of directors had determined to redeem all of its outstanding shares of Class A common stock sold in the Issuer's initial public offering (the "Public Shares"), effective as of June 15, 2023, because the Issuer will not be able to consummate an initial business combination within the time period required by its amended and restated certificate of incorporation. As of the close of business on June 15, 2023, the Public Shares were deemed cancelled and represented only the rights to receive the per-share redemption price. In connection with the redemption of the Public Shares and anticipated dissolution of the Issuer, on June 15, 2023, 1P Management LLC ("1P") forfeited to the Issuer for no consideration 7,305,200 shares of Class B common stock and 5,361,412 warrants.
- [F2]The shares of Class B common stock are convertible for shares of the Issuer's Class A common stock as described under the heading "Description of Securities" in the Issuer's Registration Statement on Form S-1 (File No. 333- 253949) (the "Registration Statement") and have no expiration date.
- [F3]1P is the record holder of the securities reported herein. Isaac Applbaum is the manager of 1P Management, LLC and has voting and investment discretion with respect to the securities held of record by 1P.
Issuer
Logistics Innovation Technologies Corp.
CIK 0001848364
Entity typeother
Related Parties
1- filerCIK 0001376613
Filing Metadata
- Form type
- 4
- Filed
- Jun 19, 8:00 PM ET
- Accepted
- Jun 20, 2:08 PM ET
- Size
- 13.8 KB