Brass Ring Trust bought FBYD
November 6, 2023 · Form 4 insider transaction
Brass Ring Trust bought 31,818 shares of Falcon's Beyond Global, Inc., a transaction worth N/A. The trade was recorded as conversion of a derivative and disclosed on an SEC Form 4, filed 99 days after the transaction.
Footnotes
On November 3, 2023, the audit committee of the board of directors of Falcon's Beyond Global, Inc. (the "Issuer") determined that the volume weighted average closing price of the Issuer's Class A common stock, par value $0.0001 per share ("Class A Common Stock"), exceeded $14.30 for 20 trading days during a period of 30 consecutive trading days. Accordingly, on November 6, 2023, pursuant to the terms of the Certificate of Designation of Series A Preferred Stock ("Certificate of Designation"), all 8% Series A Cumulative Convertible Preferred Stock ("Series A Preferred Stock") held by the Reporting Persons were automatically converted into shares of Class A Common Stock at a conversion rate of 0.90909 shares of Class A Common Stock for each share of Series A Preferred Stock in accordance with the Certificate of Designation. Cash was paid in lieu of fractional shares in accordance with the terms of the Series A Preferred Stock.; Represents securities held directly by Judith E. Demerau.