February 9, 2024 · Form 4 insider transaction
Infinite Acquisitions Partners LLC sold 336,025 shares of FBYD at $0.00 per share, a transaction worth N/A. The trade was recorded as conversion of a derivative and disclosed on an SEC Form 4, filed 4 days after the transaction.
Represents an obligation of Infinite Acquisitions to deliver shares of Class A Common Stock pursuant to obligations underlying certain redemption agreements entered into with former equityholders of Infinite Acquisitions prior to the Business Combination described in the Registration Statement. The arrangement obligates Infinite Acquisitions to deliver up to 13,441,004 shares of Class A Common Stock and up to an additional 22,466,547 shares of Class A Common Stock, which may be acquired upon redemption by Infinite Acquisitions of an equal number of Common Units subject to satisfaction of certain milestones described in the Registration Statement, at certain redemption dates over a nine-year period beginning following the closing of the Business Combination. The number of shares of Class A Common Stock to be delivered at each payment date is to be reduced by up to 20% of the amount deliverable, subject to an implied minimum share price of $10.00 per share.; On February 9, 2024, Infinite Acquisitions initiated the delivery of shares of Class A Common Stock to satisfy an obligation of Infinite Acquisitions to deliver shares of Class A Common Stock pursuant to obligations underlying certain redemption agreements entered into with former equityholders of Infinite Acquisitions prior to the Business Combination described in the Registration Statement described further in footnote (10) below.; Represents securities held by Infinite Acquisitions. Infinite Acquisitions is controlled by its manager, Erudite Cria, Inc. ("Infinite Manager"). Investment and voting decisions at Infinite Manager with respect to the securities held by Infinite Acquisitions are made by the board of directors of Infinite Manager. Each director has one vote on all matters presented to the board of Infinite Manager, except that the chairman of the board of directors, Lucas Demerau, has two votes on all matters presented to the board of Infinite Manager. Therefore, no individual director of Infinite Manager is the beneficial owner, for purposes of Rule 13d-3 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), of the securities held by Infinite Acquisitions. Each of Infinite Manager and the directors of Infinite Manager disclaim beneficial ownership over such securities except to the extent of their individual pecuniary interest therein.