4//SEC Filing
Kumar Venu Raman 4
Accession 0001829126-24-001986
CIK 0001853044other
Filed
Mar 27, 8:00 PM ET
Accepted
Mar 28, 4:05 PM ET
Size
9.7 KB
Accession
0001829126-24-001986
Insider Transaction Report
Form 4
Kumar Venu Raman
Director10% Owner
Transactions
- Award
AARK Shares Put Exchange Right
2024-03-26+10,000→ 10,000 total→ Class A Ordinary Shares (22,460,395 underlying) - Disposition to Issuer
AARK Shares Call Exchange Right
2024-03-26+10,000→ 10,000 total→ Class A Ordinary Shares (22,460,395 underlying)
Footnotes (2)
- [F1]Pursuant to the terms and subject to the restrictions set forth in that certain Exchange Agreement, dated as of November 6, 2023 (the "Exchange Agreement"), by and among Aeries Technology, Inc. (the "Issuer"), Aark Singapore Pte. Ltd. ("AARK"), and Venu Raman Kumar, the reporting person has a put exchange right, subject to certain exercise conditions, to exchange the reporting person's ordinary shares of AARK, par value SGD1.00 per share (the "AARK Shares"), for Class A ordinary shares, par value $0.0001 per share ("Class A Ordinary Shares") of the Issuer, at an exchange rate of approximately 2,246 Class A Ordinary Shares for each AARK Share. The Issuer also has a call exchange right under the Exchange Agreement, subject to the exercise conditions, to require the reporting person to exchange up to all of the reporting person's AARK Shares for Class A Ordinary Shares or a cash exchange payment.
- [F2](Continued from footnote 1) The Issuer determined that the exercise conditions to the exchange rights were satisfied on March 26, 2024. As of the date of this Form 4, the reporting person has the right to exchange up to 20% of the AARK Shares and, on and after April 1, 2024, the reporting person has the right to exchange 100% of the AARK Shares. In addition, subject to certain conditions, either the call exchange or put exchange may be settled with a cash exchange payment calculated as the arithmetic average of the volume-weighted average price of Class A Ordinary Shares for the five (5) consecutive trading days ending on the date that is two (2) business days after the reporting person delivers notice of the exercise of the put exchange.
Documents
Issuer
Aeries Technology, Inc.
CIK 0001853044
Entity typeother
Related Parties
1- filerCIK 0001441841
Filing Metadata
- Form type
- 4
- Filed
- Mar 27, 8:00 PM ET
- Accepted
- Mar 28, 4:05 PM ET
- Size
- 9.7 KB