LEONARD M. TANNENBAUM - 28 Apr 2022 Form 4 Insider Report for AFC BDC Inc. (NONE)

Role
Chief Executive Officer
Signature
/s/ Gabriel A. Katz, attorney-in-fact for Leonard M. Tannenbaum
Issuer symbol
NONE
Transactions as of
28 Apr 2022
Net transactions value
+$8,350,000
Form type
4
Filing time
02 May 2022, 21:54:27 UTC
Previous filing
06 Apr 2022
Next filing
13 May 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NONE Common Stock Other $7,350,000 +367,500 $20.00* 367,500 28 Apr 2022 Direct F1
transaction NONE Common Stock Other $1,000,000 +50,000 $20.00* 50,000 28 Apr 2022 By the Tannenbaum Family 2012 Trust F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These shares of Common Stock were acquired pursuant to an Agreement and Plan of Merger, by and among the AFC BDC Warehouse LLC and AFC BDC Inc., under which each share of AFC BDC Warehouse LLC converted automatically into a pro rata share (based on each member's percentage interest in AFC BDC Warehouse LLC, adjusted downward for fractional shares) of AFC BDC Inc., effective as of 12:01 p.m. on April 28, 2022.
F2 Reflects shares held by the Tannenbaum Family 2012 Trust. Mr. Tannenbaum disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission for purposes of Section 16 or any other purpose.

Remarks:

Gabriel A. Katz is signing on behalf of Mr. Tannenbaum pursuant to the power of attorney dated April 4, 2022, which was previously filed with the Securities and Exchange Commission as an exhibit to the Form 3 Mr. Tannenbaum filed on April 6, 2022.