Tiramani Paolo 4
4 · Boxabl Inc. · Filed Nov 14, 2023
Insider Transaction Report
Form 4
Boxabl Inc.BOX
Tiramani Paolo
DirectorCo-Chief Executive Officer10% Owner
Transactions
- Gift
Series A-2 Preferred Stock, par value $0.00001
2023-11-10+37,500,000→ 37,500,000 total(indirect: By Trust)→ Common Stock, par value $0.00001 (37,500,000 underlying)
Footnotes (3)
- [F1]Each share of Series A-2 Preferred Stock automatically converts into the Company's Common Stock on a one-for-one basis upon the closing of the sale of the Company's Common Stock to the public in a firm commitment underwritten public offering that meets certain criteria or an offering of the Company's Common Stock in reliance on Regulation A of the Securities Act of 1933, as amended.
- [F2]Shares were gifted to Dechomai Asset Trust without consideration. The price per share of the Company's Series A-2 Preferred stock based on the valuation of the merger transaction between the Company and Build IP, an affiliate entity owned by Mr. Tiramani prior to the merger, was valued at $30,000,000 or $0.80 per share.
- [F3]Shares of Series A-2 Preferred Stock owned directly by Dechomai Asset Trust. The reporting person is deemed to have voting and investment power of the shares held by Dechomai Asset Trust.