Corvina Holdings LTD's Form 4 filing
Grove Collaborative Holdings, Inc. (GROV) · filed Jun 21, 2022
- Accession no.
- 0000950103-22-010959
- Filed
- Jun 21, 2022, 7:48 PM ET
- Trade date
- Jun 16, 2022
- Filing delay
- 5 days
- Rule 10b5-1 plan
- Not on the form (before 2023)
This filing lists 4 non-derivative transactions and 3 derivative transactions. Open-market purchases total $66.7M. It was filed 5 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 |
|---|---|
| Corvina Holdings LTDCIK 0001368872 | 10% Owner |
| Branson Sir RichardCIK 0001368963 | 10% Owner |
| Virgin Group Holdings LTDCIK 0001402303 | 10% Owner |
| Vieco Investments LtdCIK 0001734533 | 10% Owner |
| Virgin Group Acquisition Sponsor II LLCCIK 0001846226 | 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 |
|---|---|---|---|---|---|---|---|---|
| Jun 16, 2022 | Class A Common Stock | CConversionAcquired | +9,972,500 | $0.00F1 | $0 | 9,972,500 | Direct | |
| Jun 16, 2022 | Class A Common Stock | PPurchaseAcquired | +2,750,000 | $0.00F2 | $0 | 12,722,500 | Direct | |
| Jun 16, 2022 | Class A Common Stock | PPurchaseAcquired | +1,671,524 | $10.00 | +$16,715,240 | 14,394,024 | Direct | |
| Jun 16, 2022 | Class A Common Stock | PPurchaseAcquired | +5,000,000 | $10.00 | +$50,000,000 | 19,394,024 | Direct |
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 |
|---|---|---|---|---|---|---|---|---|
| Jun 16, 2022 | Class A Common Stock | CConversionDisposed | −9,972,500 | –F1 | – | 0 | Direct | |
| Jun 16, 2022 | Class A Common Stock | PPurchaseAcquired | +3,875,028 | $0.01 | +$38,750.28 | 3,875,028 | Direct | |
| Jun 16, 2022 | Class A Common Stock | PPurchaseAcquired | +6,700,000 | $1.50 | +$10,050,000 | 6,700,000 | Direct |
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
Represents Class B ordinary shares held by the Reporting Person that automatically converted into shares of Class A Common Stock (the "Shares") in connection with the redomestication of the Issuer from Cayman Islands to Delaware public benefit corporation in connection with the closing of the business combination of Issuer and Grove Collaborative, Inc. on June 16, 2022 (the "Transaction"). Following the initial grant of Class B ordinary shares, but on or prior to the closing of the Transaction, the ratio of Class B ordinary shares to Shares was adjusted to ensure that the Reporting Person received the same ownership percentage in Issuer following the closing of the Transaction.
Referenced by the price of 1 transaction in Table I and 1 transaction in Table II.
- F2
Represents shares in Grove Collaborative Inc. that were exchanged for Shares in connection with the closing of the Transaction.
Referenced by the price of 1 transaction in Table I.