Lawrie John M's Form 4 filing
Electriq Power Holdings, Inc. (ELIQ) · filed Aug 2, 2023
- Accession no.
- 0000899243-23-017742
- Filed
- Aug 2, 2023
- Trade date
- Jul 31, 2023
- Filing delay
- 2 days
- Rule 10b5-1 plan
- Not checked
This filing lists 5 non-derivative transactions and 4 derivative transactions. Open-market purchases total $15.6M. It was filed 2 days after the trade.
Reporting owners
A Form 4 can have several reporting owners, such as a person and a fund they control. Trade tables show the first one.
| Owner | Relationship to the company |
|---|---|
| Lawrie John MCIK 0001180454 | Director, 10% Owner |
Non-derivative securities (Table I)
Acquisitions and disposals of common stock and similar shares, one row per line on the filing.
| Trade date | Security | Transaction | Shares | Price | Value | Shares after | Ownership | Flags |
|---|---|---|---|---|---|---|---|---|
| Jul 31, 2023 | Class A Common Stock | AGrant or awardAcquired | +1,250,000 | –F1 | – | 1,250,000 | Indirect | |
| Jul 31, 2023 | Class A Common Stock | AGrant or awardAcquired | +756,635 | –F3 | – | 756,635 | Indirect | |
| Jul 31, 2023 | Class A Common Stock | PPurchaseAcquired | +1,562,500 | $10.00F5 | +$15,625,000 | 1,562,500 | Direct | |
| Jul 31, 2023 | Class A Common Stock | CConversionAcquired | +1,090,217 | $0.00F10 | $0 | 1,846,852 | Indirect | |
| Jul 31, 2023 | Class A Common Stock | CConversionAcquired | +500,000 | $0.00F10 | $0 | 500,000 | Indirect |
Derivative securities (Table II)
Options, warrants, restricted stock units and similar. Shares are the underlying shares; price and value are for the derivative itself, and the holding after is in derivative units.
| Trade date | Security | Transaction | Underlying shares | Unit price | Value | Held after | Ownership | Flags |
|---|---|---|---|---|---|---|---|---|
| Jul 31, 2023 | Class A Common Stock | JOtherDisposed | −3,270,652 | $0.00F8 | $0 | 1,090,217 | Indirect | Duplicate filing |
| Jul 31, 2023 | Class A Common Stock | CConversionDisposed | −1,090,217 | $0.00F8 | $0 | 0 | Indirect | |
| Jul 31, 2023 | Class A Common Stock | CConversionDisposed | −500,000 | $0.00F8 | $0 | 0 | Indirect | |
| Jul 31, 2023 | Class A Common Stock | JOtherDisposed | −1,000,000 | $0.00F11 | $0 | 1,000,000 | Indirect | Duplicate filing |
Footnotes and remarks
Livermore keeps the footnotes that transaction prices refer to, all footnotes of amendments (Form 4/A) and the filing's remarks. Other footnotes, such as how indirect holdings are held or the details of a trading plan, are only in the original on SEC EDGAR.
- F1
On July 31, 2023, JMLElectric LLC ("JML") received 1,250,000 shares of the Issuer's Class A Common Stock ("Class A Common Stock") in connection with the completion of the Issuer's business combination (the "Business Combination") with Electriq Power, Inc. ("Electriq").
Referenced by the price of 1 transaction in Table I.
- F3
On July 31, 2023, TLG Acquisition Founder LLC (the "Sponsor") received 756,635 shares of Class A Common Stock upon the conversion of working capital loans in connection with the completion of the Business Combination.
Referenced by the price of 1 transaction in Table I.
- F5
On July 31, 2023, the reporting person purchased 500,000 shares of Class A Common Stock from the Issuer pursuant to a private placement in exchange for $5.0 million. In connection with such investment, the reporting person received 250,000 shares of the Issuer's Series A Cumulative Redeemable Preferred Stock as an incentive.
Referenced by the price of 1 transaction in Table I.
- F8
Shares of Class F Common Stock of the Issuer ("Class F Common Stock") were convertible into shares of Class A Common Stock as described under the heading "Description of Securities-Founder Shares" in the Issuer's registration statement on Form S-1 (File No. 333-252032) and the shares of Class F Common Stock had no expiration date.
Referenced by the price of 3 transactions in Table II.
- F10
The Issuer consummated its initial Business Combination on July 31, 2023, whereby, among other things, the shares of Class F Common Stock converted into shares of Class A Common Stock.
Referenced by the price of 2 transactions in Table I.
- F11
On July 31, 2023, the Sponsor received 1,000,000 warrants to purchase shares of Class A Common Stock for $6.57 per share upon the conversion of $1,500,000 of working capital loans in connection with the completion of the Business Combination.
Referenced by the price of 1 transaction in Table II.