Lovesac Co — Director's Dealing 2020

Dec 16, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Lovesac Co (LOVE)
CIK: 0001701758
Period of Report: 2020-12-11

Reporting Person: Satori Capital, LLC (Director, Affiliate of reporting person)
Reporting Person: Grafer John Richard (Director)
Reporting Person: SCGPM, LLC (Affiliate of reporting person)
Reporting Person: Satori Capital Strategic Opportunities GP, LLC (Affiliate of reporting person)
Reporting Person: Satori Capital III GP, LLC (Affiliate of reporting person)
Reporting Person: Satori Capital Strategic Opportunities, LP (Affiliate of reporting person)
Reporting Person: Satori Capital III, LP (Affiliate of reporting person)
Reporting Person: VANDERBECK SUNNY (Affiliate of reporting person)
Reporting Person: Eisenman Randy (Affiliate of reporting person)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-12-11	Common Stock	D	243775	$16	Acquired	1310585	Indirect
2020-12-11	Common Stock	S	97052	$40.1887	Disposed	1213533	Indirect
2020-12-11	Common Stock	D	106225	$16	Acquired	1213533	Indirect
2020-12-11	Common Stock	S	42290	$40.1887	Disposed	1171243	Indirect
2020-12-11	Common Stock	D	97510	$16	Acquired	1171243	Indirect
2020-12-11	Common Stock	S	38820	$40.1887	Disposed	1132423	Indirect
2020-12-11	Common Stock	D	42490	$16	Acquired	1132423	Indirect
2020-12-11	Common Stock	S	16916	$40.1887	Disposed	1115507	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-12-11	Common Stock Warrants (right to buy)	$16	D	243775	Disposed	2021-06-29	Common Stock (243775)	Indirect
2020-12-11	Common Stock Warrants (right to buy)	$16	D	106225	Disposed	2021-06-29	Common Stock (106225)	Indirect
2020-12-11	Common Stock Warrants (right to buy)	$16	D	97510	Disposed	2021-06-29	Common Stock (97510)	Indirect
2020-12-11	Common Stock Warrants (right to buy)	$16	D	42490	Disposed	2021-06-29	Common Stock (42490)	Indirect

Footnotes

F1: On December 11, 2020, Satori Capital Strategic Opportunities, LP ("Satori CSO") exercised warrants to purchase 243,775 shares of Lovesac common stock for $16 per share. Satori CSO paid the exercise price on a cashless basis, resulting in Lovesac's withholding of 97,052 of the warrant shares to pay the exercise price and issuing to Satori CSO the remaining 146,723 shares.

F2: On December 11, 2020, Satori Capital III, LP ("SCIII") exercised warrants to purchase 106,225 shares of Lovesac common stock for $16 per share. SCIII paid the exercise price on a cashless basis, resulting in Lovesac's withholding of 42,290 of the warrant shares to pay the exercise price and issuing to SCIII the remaining 63,935 shares.

F3: On December 11, 2020, Satori CSO exercised warrants to purchase 97,510 shares of Lovesac common stock for $16 per share. Satori CSO paid the exercise price on a cashless basis, resulting in Lovesac's withholding of 38,820 of the warrant shares to pay the exercise price and issuing to Satori CSO the remaining 58,690 shares.

F4: On December 11, 2020, SCIII exercised warrants to purchase 42,490 shares of Lovesac common stock for $16 per share. SCIII paid the exercise price on a cashless basis, resulting in Lovesac's withholding of 16,916 of the warrant shares to pay the exercise price and issuing to SCIII the remaining 25,574 shares.

F5: Satori Capital Strategic Opportunities GP, LLC ("Satori CSOGP"), is the general partner of Satori CSO and Satori Capital III GP, LLC ("SCIIIGP"), is the general partner of SCIII. SCGPM, LLC ("SCGPM") is the manager of Satori CSOGP and SCIII and may be deemed to share voting and dispositive power with respect to the shares held by Satori CSO and SCIII. SCGPM is wholly owned and controlled by Satori Capital, LLC ("Satori Capital"), which is indirectly owned and controlled by Sunny Vanderbeck and Randy Eisenman through entities that Sunny Vanderbeck or Randy Eisenman own or control. By reason of the provisions of Rule 16a-1 of the Exchange Act, Mr. Grafer may be deemed to have beneficial ownership of certain of the securities that are beneficially owned by Satori CSO and SCIII. Mr. Grafer disclaims beneficial ownership of the securities owned by Satori CSO and SCIII, and the filing of this Form 4 shall not be deemed an admission that Mr. Grafer is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.