LSB Funding LLC - Sep 27, 2021 Form 4 Insider Report for LSB INDUSTRIES INC (LXU)

Role: 10%+ Owner
Signature: s/ Todd Boehly, Manager
Stock symbol: LXU
Transactions as of: Sep 27, 2021
Transactions value $: $302,246,591
Form type: 4
Date filed: 9/27/2021, 04:42 PM
Next filing: Oct 12, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LXU	Common Stock	Other	$302M	+49.1M	+1205.75%	$6.16	53.1M	Sep 27, 2021	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On July 19, 2021, the Reporting Person and the Issuer entered into a Securities Exchange Agreement (the "Securities Exchange Agreement"), pursuant to which the Reporting Person and the Issuer agreed to exchange, on the terms and subject to the conditions set forth therein, (a) the 139,768 shares of Series E-1 Cumulative Redeemable Class C Preferred Stock of the Issuer (the "Series E-1 Preferred Stock") held by the Reporting Person for shares of Common Stock and (b) the one (1) share of Series F-1 Preferred Stock held by the Reporting Person for shares of Common Stock (the "Series F-1 Preferred Stock" and, together with the Series E-1 Preferred Stock, the "Preferred Stock"), based on the liquidation preference and redemption price, respectively, of the Preferred Stock and a volume weighted average exchange price of $6.16 per share of Common Stock;
F2	(Continued from footnote 1), provided, that the aggregate number of shares of Common Stock issuable pursuant to clauses (a) and (b) above will be reduced by the number of shares of Common Stock that the Reporting Person will receive in respect of the payment of a dividend on the Common Stock described in the Securities Exchange Agreement (such net number of shares of Common Stock to be issued, the "Issued Shares" and such transactions, the "Exchange"). On September 27, 2021, the Exchange was consummated and the Issuer issued 49,066,005 Issued Shares to the Reporting Person.

Content

On July 19, 2021, the Reporting Person and the Issuer entered into a Securities Exchange Agreement (the "Securities Exchange Agreement"), pursuant to which the Reporting Person and the Issuer agreed to exchange, on the terms and subject to the conditions set forth therein, (a) the 139,768 shares of Series E-1 Cumulative Redeemable Class C Preferred Stock of the Issuer (the "Series E-1 Preferred Stock") held by the Reporting Person for shares of Common Stock and (b) the one (1) share of Series F-1 Preferred Stock held by the Reporting Person for shares of Common Stock (the "Series F-1 Preferred Stock" and, together with the Series E-1 Preferred Stock, the "Preferred Stock"), based on the liquidation preference and redemption price, respectively, of the Preferred Stock and a volume weighted average exchange price of $6.16 per share of Common Stock;

(Continued from footnote 1), provided, that the aggregate number of shares of Common Stock issuable pursuant to clauses (a) and (b) above will be reduced by the number of shares of Common Stock that the Reporting Person will receive in respect of the payment of a dividend on the Common Stock described in the Securities Exchange Agreement (such net number of shares of Common Stock to be issued, the "Issued Shares" and such transactions, the "Exchange"). On September 27, 2021, the Exchange was consummated and the Issuer issued 49,066,005 Issued Shares to the Reporting Person.