InCube Labs, L.L.C. - Jul 29, 2021 Form 3/A - Amendment Insider Report for Rani Therapeutics Holdings, Inc. (RANI)

Role: 10%+ Owner
Signature: /s/ Josh Seidenfeld, Attorney-in-Fact for Mir Imran, President of InCube Labs, LLC
Stock symbol: RANI
Transactions as of: Jul 29, 2021
Transactions value $: $0
Form type: 3/A - Amendment
Date filed: 8/2/2021, 08:14 PM
Date Of Original Report: Jul 29, 2021
Next filing: Feb 7, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	RANI	Class B Common Stock						22.4M	Jul 29, 2021	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	RANI	Class A Common LLC Units							Jul 29, 2021	Class A Common Stock	22.4M		Direct	F1, F2, F3

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

Explanation of Responses:

Id	Content
F1	This amendment is being filed to correctly reflect the shares held.
F2	Represents Common LLC Units of Rani Therapeutics, LLC, a direct subsidiary of the Issuer. The Common LLC Units are redeemable at the election of the Reporting Person at any time for newly-issued Class A Common Stock of the Issuer ("Class A Shares") on a one-for-one basis or, if mutually agreed with the Issuer, a cash payment equal to the volume weighted average market price of one Class A Share for each Common LLC Unit redeemed (subject to customary adjustments, including for stock splits, stock dividends and reclassifications). However, the Issuer may elect to effect a direct exchange of such Class A Shares (or such cash, if mutually agreed) for such Common LLC Units.
F3	Upon the redemption or exchange by the Reporting Person of any Class A Common LLC Units, a number of Class B Common Stock of the Issuer ("Class B Shares") held by the Reporting Person equal to the number of Common LLC Units that are redeemed or exchanged will be automatically cancelled by the Issuer for no consideration.