Form 4: Director David Briones Disposes of Series A Convertible Preferred Stock in Unique Logistics International Merger

David Briones, a director of Unique Logistics International, reports the disposition of Series A Convertible Preferred Stock due to the merger with DP World Logistics US Holdings, Inc.

Summary

• David Briones, a director of Unique Logistics International, Inc. (UNQL), filed a Form 4 indicating changes in beneficial ownership.
• The report details the disposition of 20,000 shares of Series A Convertible Preferred Stock on May 14, 2025, at a price of $35.8055 per share.
• This disposition is a result of the merger between Unique Logistics International, Inc. and Unique Merger Co., a subsidiary of DP World Logistics US Holdings, Inc.
• Upon the merger's effective time, each share of Series A Convertible Preferred Stock was converted into the right to receive a cash payment.
• The cash payment is calculated as $0.0037 per share of Common Stock, multiplied by 9,677.1581, which is the number of Common Stock shares issuable upon conversion of each Series A share.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it reports a standard transaction related to a merger. There are no indications of positive or negative performance, just the execution of a pre-defined agreement.

Future Outlook

The document does not contain any specific forward-looking statements beyond the completion of the merger.

Industry Context

This announcement reflects a merger and acquisition activity within the logistics sector, indicating consolidation and potential strategic realignment of companies.

Stakeholder Impact

• Shareholders of Unique Logistics International received cash payments for their Series A Convertible Preferred Stock as part of the merger agreement.

Key Dates

Keywords

Form 4, beneficial ownership, Series A Convertible Preferred Stock, merger, Unique Logistics International, UNQL, David Briones, DP World Logistics