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Filing Details

Accession Number:: 0001013762-21-000174
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2021-10-04 21:01:54
Reporting Period:: 2021-09-10

Accepted Time:: 2021-10-04 21:01:54
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1704760	American Virtual Cloud Technologies Inc.	AVCT	Services-Computer Integrated Systems Design (7373)	000000000

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1809677	Navigation Capital Partners, Inc.	2870 Peachtree Rd. Nw, Unit 509 Atlanta GA 30305		No	No	Yes	No
1883907	Spac Opportunity Fund I, L.p.	2870 Peachtree Road Nw Suite 509 Atlanta GA 30305		No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2021-09-10	2,429,561	$0.01	10,045,803	No	4	X	Indirect	Please see footnotes
Common Stock	Disposition	2021-09-10	6,079	$4.00	10,039,724	No	4	S	Indirect	Please see footnotes

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	X	Indirect	Please see footnotes
No	4	S	Indirect	Please see footnotes

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Warrants	Disposition	2021-09-10	2,429,561	$0.00	2,429,561	$0.01

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0			No	4	X	Indirect

Footnotes

On September 10, 2021, Navigation Capital Partners SOF I, LLC ("Investment Sub") elected to exercise each of its 24,295 warrants (each such warrant entitling the holder thereof to purchase 100 shares of the Issuer's common stock, par value $0.001 per share (the "Common Stock") at a price of $0.01 per share), and paid the exercise price on a cashless basis, resulting in the Issuer's withholding of 6,079 of the warrant shares to pay the exercise price and issuing to Investment Sub the remaining 2,423,482 shares of Common Stock. Each of the warrants were immediately exercisable and had expiration dates five years from the date of issuance (December 1, 2025, for 10,000 warrants and 79,900 warrants issued on December 1, 2020, and April 7, 2025, for 6,305 warrants issued on April 7, 2020.
(continued from footnote (1)) 6,305 of the warrants were previously held by SPAC Opportunity Partners, LLC prior to being transferred to Investment Sub, and no Form 4 was filed for such transfer due to administrative error. This Form 4 is being filed late due to administrative error.
The reported securities are directly held by Investment Sub, a direct wholly-owned subsidiary of SPAC Opportunity Fund I, L.P. ("SPAC Opps"), an entity controlled by Navigation Capital Partners, Inc. ("Navigation Capital" and together with SPAC Opps, the "Reporting Persons"). As a result, the Reporting Persons may be deemed to indirectly beneficially own the reported securities. The Reporting Persons each disclaim beneficial ownership of such securities except to the extent of their pecuniary interest therein.