Pensare Sponsor Group, Llc - Sep 10, 2021 Form 4 Insider Report for American Virtual Cloud Technologies, Inc. (AVCT)

Role: 10%+ Owner
Signature: /s/ Alan I. Annex, Attorney-in-Fact
Stock symbol: AVCT
Transactions as of: Sep 10, 2021
Transactions value $: $6
Form type: 4
Date filed: 9/14/2021, 08:01 PM
Previous filing: Sep 10, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AVCT	Common Stock	Exercise of in-the-money or at-the-money derivative security	$2.26K	+226K	+3.44%	$0.01^*	6.8M	Sep 10, 2021	Direct
transaction	AVCT	Common Stock	Sale	-$2.25K	-564	-0.01%	$4.00^*	6.8M	Sep 10, 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
transaction	AVCT	Warrants	Exercise of in-the-money or at-the-money derivative security	$0	-226K	-100%	$0.00^*	0	Sep 10, 2021	Common Stock	226K	$0.01	Direct

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

Explanation of Responses:

Id	Content
F1	On September 10, 2021, the reporting person exercised warrants to purchase 226,000 shares of the issuer's common stock for $0.01 per share. The reporting person paid the exercise price on a cashless basis, resulting in the issuer's withholding of 564 of the warrant shares to pay the exercise price and issuing to the reporting person the remaining 225,436 shares.