Form 4: Amprius Technologies Director Justin Mirro Reports Changes in Beneficial Ownership Following Warrant Exchange
SEC Form 4 Filing
Director Justin Mirro reports acquisition and disposal of Amprius Technologies securities following an exchange of private warrants for common stock.
Summary
- On July 23, 2024, Justin Mirro, a director of Amprius Technologies, Inc., reported changes in his beneficial ownership of the company's securities.
- Mirro acquired 925,900 shares of common stock in exchange for 4,700,000 private warrants.
- He also reported direct ownership of 142,895 shares of common stock, including 125,000 restricted stock units.
- Additionally, Mirro indirectly owns 2,393,042 shares through Kensington Capital Partners, LLC, where he is the managing member, and 1,585,000 shares through the Kensington Capital Trust, where his spouse is the trustee.
- He disclaims beneficial ownership of the shares held by Kensington Capital Partners, LLC and the Kensington Capital Trust, except to the extent of his pecuniary interest.
- The warrant exchange was conducted under the terms of an offer made by Amprius Technologies to holders of its outstanding private warrants, offering 0.197 shares of common stock for each warrant.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing reflects a routine transaction (warrant exchange) and doesn't inherently indicate positive or negative sentiment about the company's prospects.
Positives
- The warrant exchange simplifies the capital structure of Amprius Technologies.
- The increased common stock ownership by a director could be seen as a sign of confidence in the company's future.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. Warrant exchange programs are often used to streamline a company's capital structure.
Stakeholder Impact
- The warrant exchange could have a minor dilutive effect on existing shareholders.
- The simplification of the capital structure could be viewed positively by investors.
Key Dates
| Date | Description |
|---|---|
| 06/27/20 | Date of the Kensington Capital Trust. |
| 10/14/2022 | Original date of warrants. |
| 06/24/2024 | Date of Issuer's Schedule TO filing with the SEC regarding the warrant exchange offer. |
| 07/23/2024 | Date of the transaction involving the exchange of warrants for common stock. |
| 07/25/2024 | Date of signature of the Form 4 filing. |
| 09/14/2027 | Expiration date of warrants. |
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