Jami Rubin, CM Life Sciences III Inc.'s Chief Financial Officer, recently acquired 2,194,500 shares of the company. The buys took place at $0.00 per share (and therefore, likely the result of option or restricted share grants), on December 17, 2021. Rubin now owns 2,194,500 shares of the company. Rubin operates out of Cambridge, MA. Some additional info was provided as follows:
On December 17, 2021, upon consummation of the transactions (the "Closing" of the "Business Combination") contemplated by the Agreement and Plan of Merger dated August 5, 2021 (the "Merger Agreement") by and among the Issuer (f/k/a CM Life Sciences III Inc.), Clover III Merger Sub Inc. and EQRx International, Inc. (f/k/a EQRx, Inc., "Legacy EQRx"), each share of Legacy EQRx capital stock w
as exchanged, pursuant to the Merger Agreement, for shares of the Issuer's Common Stock.
Upon consummation of the Business Combination, the Reporting Person received the right to acquire an aggregate of 300,618 shares of the Issuer's Common Stock (the "Earn-out Shares"), (i) 210,433 of which will be released from escrow if the value weighted average price ("VWAP") for at least 20 of any 30 consecutive trading days following December 17, 2022 is at least $12.50; and (ii) 90,185 of which will be released from such escrow if the VWAP for at least 20 of any 30 consecutive trading days following December 17, 2022 is at least $16.50. Any Earn-out Shares not eligible to be released on or prior to December 17, 2024 will be forfeited and cancelled, and the maximum number of Earn-out Shares the Reporting Person may be eligible to acquire is subject to adjustment per the terms of the Merger Agreement.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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