System1, Inc. — Director's Dealing 2024

Jun 21, 2024

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: System1, Inc. (SST)
CIK: 0001805833
Period of Report: 2024-06-17

Reporting Person: CEE Holdings Trust (10% Owner)

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	8218631	Direct
Class C Common Stock	3415345	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Class B Units	$		Class A Common Stock (3415262)		Direct
Warrants (right to buy)	$		Class A Common Stock (1409345)		Direct

Footnotes

F1: The Class B Common Units are redeemable on a one-for-one basis for shares of Class A common stock, or, at the election of the Company, cash equal to a volume weighted average market price of a share of Class A common stock. The Class B Common Units have no expiration date. One (1) share of Class C Common Stock is issued for each Class B Common Unit outstanding. Upon any redemption of Common Units, one share of Class C common stock is automatically forfeited and cancelled for each Common Unit so redeemed.

F2: Each whole warrant entitles the holder thereof to purchase one share of Class A common stock of at an exercise price of $11.50 per share. The warrants are currently exercisable . The warrants will expire five years after the completion of the Company's Business Combination (which was consummated on January 27, 2022) or earlier upon redemption or liquidation, as described under the heading "Description of System1 Securities-System1 Warrants" in the Company's registration statement on Form S-4 (File No. 333-260714).