Form 4: Inspirato Inc: Revolution Management and Affiliates Exchange Common Units for Class A Common Stock
SEC Form 4
Revolution Management Co LLC and its affiliates, including Revolution Portico Holdings LLC and Exclusive Resorts, LLC, exchanged Common Units of Inspirato LLC for Class A Common Stock and cancelled an equivalent number of Class V Common Stock shares on September 30, 2024.
Summary
- On September 30, 2024, Revolution Management Co LLC and its affiliates engaged in a mandatory exchange of Common Units of Inspirato LLC for Class A Common Stock of Inspirato Inc.
- This exchange also involved the cancellation of an equivalent number of Class V Common Stock shares.
- Revolution Portico Holdings LLC acquired 838,423 shares of Class A Common Stock and disposed of 838,423 shares of Class V Common Stock.
- Exclusive Resorts, LLC acquired 56,250 shares of Class A Common Stock and disposed of 56,250 shares of Class V Common Stock.
- These transactions were conducted in connection with a 'Continuing Member COC' as defined in Inspirato's Limited Liability Agreement.
- The reporting persons disclaim beneficial ownership of these shares except to the extent of their respective pecuniary interest therein.
- Alps Investment Holdings LLC holds 19,973 shares of Class A Common Stock.
- The filing reflects a 1-for-20 reverse stock split that occurred on October 16, 2023.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing reflecting changes in ownership structure. It doesn't inherently indicate positive or negative sentiment, but rather a procedural update.
Industry Context
Form 4 filings are standard disclosures required by the SEC when insiders or significant shareholders (10% owners) of a publicly traded company buy or sell shares, or have a change in their beneficial ownership. This filing indicates changes in the holdings of Revolution Management and its affiliates within Inspirato.
Stakeholder Impact
- The exchange of Common Units for Class A Common Stock may have a minor impact on shareholders due to the change in the company's capital structure.
- The cancellation of Class V Common Stock could affect voting rights and control within the company.
Key Dates
| Date | Description |
|---|---|
| October 16, 2023 | Issuer effected a 1-for-20 reverse stock split of its Class A common stock and Class V common stock and Inspirato effected a corresponding 1-for-20 reverse split of the Common Units |
| September 30, 2024 | Date of the mandatory exchange of Common Units for Class A Common Stock and cancellation of Class V Common Stock. |
| October 28, 2024 | Date of filing. |
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