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Filing Details

Accession Number:: 0000950103-22-015147
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2022-09-01 18:35:50
Reporting Period:: 2022-08-30

Accepted Time:: 2022-09-01 18:35:50
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1841761	Grove Collaborative Holdings Inc.	GROV	()	4

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1368872	Ltd Holdings Corvina	Craigmuir Chambers Road Town Tortola D8 VG1110	No	No	Yes	No
1368963	Richard Sir Branson	Branson Villa Necker Beach Estate Necker Island D8 VG1150	No	No	Yes	No
1402303	Ltd Holdings Group Virgin	Craigmuir Chambers Road Town Tortola D8 VG1110	No	No	Yes	No
1734533	Ltd Investments Vieco	Craigmuir Chambers Road Town Tortola D8 VG1110	No	No	Yes	No
1846226	Virgin Group Acquisition Sponsor Ii Llc	C/O Virgin Group Acquisition Corp. Ii 65 Bleecker Street, 6Th Floor New York NY 10012	No	No	Yes	No

Reported Non-Derivative Transactions

Show Other Fields >>

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Class A Common Stock	Acquisiton	2022-08-30	3,275,182	$0.00	22,669,206	No	4	P	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Direct

Footnotes

On August 30, 2022, pursuant to the subscription agreement by and between Corvina Holdings Limited ("Corvina") and Grove Collaborative, Inc., a Delaware public benefit corporation ("Old Grove") dated March 31, 2022 ("Backstop Subscription Agreement"), the Issuer issued to Corvina 3,275,182 shares of the Issuer's Class A common stock, par value $0.0001 (the "Common Stock"). The Backstop Subscription Agreement provided, should the volume weighted average price of the Common Stock be less than $10.00 per share during the 10 trading days commencing on the first trading day after the Issuer's first quarterly earnings call for a fiscal quarter that ends following the closing of the business combination (the "Measurement Period VWAP"), that Corvina would be entitled to receive a number of shares of Common Stock equal to the lesser of (i) the product of (x) the sum of
(1) the shares of Class B common stock of the Issuer issued to Corvina at the closing of the business combination pursuant to the Agreement and Plan of Merger (dated December 7, 2021, as amended and restated on March 31, 2022) as consideration for the shares of Old Grove common stock received by Corvina under the Backstop Subscription Agreement and (2) the shares of Old Grove common stock Corvina agreed to subscribe for and purchase under the Backstop Subscription Agreement (collectively, the "Post-Combination Backstop Shares") multiplied by (y) a fraction, (A) the numerator of which is $10.00 (as adjusted for any stock split, reverse stock split or similar adjustment following the closing of the business combination) minus the Measurement Period VWAP and (B) the denominator of which is the Measurement Period VWAP and (ii) the number of Post-Combination Backstop Shares outstanding as of immediately following the closing of the business combination.