BoltRock-linked director outlines CitroTech (CITR) note, preferred and warrants
Filing Impact
Filing Sentiment
Form Type
3
Rhea-AI Filing Summary
CitroTech Inc. director and 10% owner Craig A. Huff reported indirect holdings in the company through BoltRock Holdings LLC. BoltRock holds 95,674 shares of Series C Convertible Preferred Stock, 2,416,667 shares of common stock, 302,526 shares of Series A Preferred Stock, a convertible note representing 833,334 shares of common stock, and warrants for 416,667 and 44,445 shares. Huff is BoltRock’s managing member and disclaims beneficial ownership beyond his pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
6 transactions reported
Mixed
6 txns
Insider
HUFF CRAIG A
Role
Director, 10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Series C Convertible Preferred Stock, par value $0.0001 | -- | -- | -- |
| holding | Convertible Note | -- | -- | -- |
| holding | Warrant | -- | -- | -- |
| holding | Warrant | -- | -- | -- |
| holding | Common Stock, par value $0.0001 | -- | -- | -- |
| holding | Series A Preferred Stock | -- | -- | -- |
Holdings After Transaction:
Series C Convertible Preferred Stock, par value $0.0001 — 95,674 shares (Indirect, By BoltRock Holdings LLC);
Convertible Note — 833,334 shares (Indirect, By BoltRock Holdings LLC);
Warrant — 416,667 shares (Indirect, By BoltRock Holdings LLC);
Common Stock, par value $0.0001 — 2,416,667 shares (Indirect, By BoltRock Holdings LLC);
Series A Preferred Stock — 302,526 shares (Indirect, By BoltRock Holdings LLC)
Footnotes (1)
- The securities are held directly by BoltRock Holdings LLC ("BoltRock"). The reporting person is the managing member of BoltRock. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein. Each share of Series C Convertible Preferred Stock is convertible at any time and from time to time at the option of the holder into 3.3333 shares of common stock, par value $0.0001 per share, of the Issuer. The Series C Convertible Preferred Stock has no expiration date. At any time while the Convertible Note remains outstanding, the Convertible Note is convertible at the whole, but not part of, outstanding principal plus all accrued and unpaid interest into shares of Common Stock at the conversion rate of $0.4 per share at BoltRock's election or automatically upon certain occurrences relating to the price of Common Stock. The reported amount includes shares of Common Stock issuable upon the conversion of interest that accrues at a rate of 10% per annum, payable in kind. The Warrant is exercisable at any time by BoltRock prior to its expiration.
FAQ
What role does Craig A. Huff have at CitroTech (CITR)?
Craig A. Huff is a director and a 10% owner of CitroTech Inc. His reported positions reflect indirect holdings through BoltRock Holdings LLC, where he is managing member and disclaims beneficial ownership except to the extent of his pecuniary interest.
What preferred stock interests in CitroTech does BoltRock Holdings report?
BoltRock reports 95,674 shares of Series C Convertible Preferred Stock and 302,526 shares of Series A Preferred Stock of CitroTech. The Series C shares are convertible into common stock, and Huff’s interest is indirect through BoltRock, subject to his pecuniary interest only.
What are the key terms of CitroTech’s Series C Convertible Preferred Stock?
Each share of Series C Convertible Preferred Stock is convertible at any time, at the holder’s option, into 3.3333 shares of CitroTech common stock. The Series C Preferred Stock has no expiration date, allowing ongoing conversion flexibility for the holder.
How is the CitroTech convertible note held by BoltRock structured?
The convertible note held by BoltRock is convertible into CitroTech common stock at a conversion rate of $0.4 per share, covering 833,334 shares. The amount includes shares from interest accruing at 10% per annum, payable in kind, while outstanding.
What CitroTech warrants are indirectly held through BoltRock Holdings LLC?
BoltRock holds CitroTech warrants for 416,667 shares and an additional warrant for 44,445 shares. Each warrant is exercisable by BoltRock at any time prior to its expiration, providing potential additional common share exposure linked to Craig A. Huff through his BoltRock role.
Does Craig A. Huff claim full beneficial ownership of BoltRock’s CitroTech securities?
Craig A. Huff disclaims beneficial ownership of CitroTech securities held by BoltRock, except to the extent of his pecuniary interest. The securities are held directly by BoltRock Holdings LLC, where Huff serves as managing member overseeing these indirect interests.