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LoRicco Ronald Joseph Sr. – ‘4’ for 2/12/21 re: Basanite, Inc.

On:  Wednesday, 2/17/21, at 4:05pm ET   ·   For:  2/12/21   ·   Accession #:  1553350-21-138   ·   File #:  0-53574

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/17/21  LoRicco Ronald Joseph Sr.         4                      1:11K  Basanite, Inc.                    Edgar Filing LLC/FA

Statement of Changes in Beneficial Ownership of Securities by an Insider   —   Form 4   —   SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 4           Statement of Changes in Beneficial Ownership of     HTML      3K 
                Securities by an Insider -- ownership.xml/3.6


        

This ‘4’ Document is an XML Data File that may be rendered in various formats:

  Form 4    –   Plain Text   –  SEC Website  –  EDGAR System  –    XML Data    –  <?xml?> File
 
 
Plain Text rendering:  Statement of Changes in Beneficial Ownership of Securities by an Insider
 
                                                                                                                                                                                
Ownership Document
 
Schema Version:  X0306
Document Type:  4
Period of Report:  2/12/21
Not Subject to Section 16:  0
Issuer:
Issuer CIK:  1448705
Issuer Name:  BASANITE, INC.
Issuer Trading Symbol:  BASA
Reporting Owner:
Reporting Owner ID:
Owner CIK:  1699571
Owner Name:  LoRicco Ronald Joseph Sr.
Reporting Owner Address:
Owner Street 1:  216 CROWN STREET
Owner Street 2:  SUITE 502
Owner City:  NEW HAVEN
Owner State:  CT
Owner ZIP Code:  06510
Owner State Description:
Reporting Owner Relationship:
Is Director?  Yes
Is Officer?  No
Is Ten Percent Owner?  Yes
Is Other?  No
Officer Title:
Other Text:
Non-Derivative Table:
Non-Derivative Holding:
Security Title:
Value:  Common Stock
Post-Transaction Amounts:
Shares Owned Following Transaction:
Value:  31,646,367
Ownership Nature:
Direct or Indirect Ownership:
Value:  I
Nature of Ownership:
Value:  See footnote
Footnote ID:  F1
Non-Derivative Holding:
Security Title:
Value:  Common Stock
Post-Transaction Amounts:
Shares Owned Following Transaction:
Value:  4,397,269
Ownership Nature:
Direct or Indirect Ownership:
Value:  I
Nature of Ownership:
Value:  See footnote
Footnote ID:  F2
Non-Derivative Holding:
Security Title:
Value:  Common Stock
Post-Transaction Amounts:
Shares Owned Following Transaction:
Value:  1,566,667
Ownership Nature:
Direct or Indirect Ownership:
Value:  I
Nature of Ownership:
Value:  See footnote
Footnote ID:  F3
Non-Derivative Holding:
Security Title:
Value:  Common Stock
Post-Transaction Amounts:
Shares Owned Following Transaction:
Value:  1,566,667
Ownership Nature:
Direct or Indirect Ownership:
Value:  I
Nature of Ownership:
Value:  See footnote
Footnote ID:  F4
Non-Derivative Holding:
Security Title:
Value:  Common Stock
Post-Transaction Amounts:
Shares Owned Following Transaction:
Value:  500,000
Ownership Nature:
Direct or Indirect Ownership:
Value:  I
Nature of Ownership:
Value:  See footnote
Footnote ID:  F5
Derivative Table:
Derivative Transaction:
Security Title:
Value:  Convertible Promissory Note
Conversion or Exercise Price:
Footnote ID:  F6
Transaction Date:
Value:  2/12/21
Deemed Execution Date:
Transaction Coding:
Transaction Form Type:  4
Transaction Code:  J
Equity Swap Involved?  No
Footnote ID:  F6
Transaction Timeliness:
Transaction Amounts:
Transaction Total Value:
Value:  1,207,504
Transaction Price Per Share:
Value:  1,207,504
Transaction Acquired-Disposed Code:
Value:  A
Exercise Date:
Value:  2/12/21
Expiration Date:
Footnote ID:  F6
Underlying Security:
Underlying Security Title:
Value:  Common Stock
Underlying Security Shares:
Footnote ID:  F6
Post-Transaction Amounts:
Shares Owned Following Transaction:
Value:  0
Ownership Nature:
Direct or Indirect Ownership:
Value:  I
Nature of Ownership:
Value:  See footnote
Footnote ID:  F8
Derivative Transaction:
Security Title:
Value:  Warrant
Conversion or Exercise Price:
Value:  0.20
Transaction Date:
Value:  2/12/21
Deemed Execution Date:
Transaction Coding:
Transaction Form Type:  4
Transaction Code:  J
Equity Swap Involved?  No
Footnote ID:  F7
Transaction Timeliness:
Transaction Amounts:
Transaction Shares:
Value:  11,250,000
Transaction Price Per Share:
Value:  0
Footnote ID:  F7
Transaction Acquired-Disposed Code:
Value:  A
Exercise Date:
Value:  2/12/21
Expiration Date:
Value:  2/12/26
Underlying Security:
Underlying Security Title:
Value:  Common Stock
Underlying Security Shares:
Value:  11,250,000
Post-Transaction Amounts:
Shares Owned Following Transaction:
Value:  11,250,000
Ownership Nature:
Direct or Indirect Ownership:
Value:  I
Nature of Ownership:
Value:  See footnote
Footnote ID:  F8
Footnotes:
Footnote - F1:  All of these shares are held in the name of RVRM Holdings LLC, which is controlled by the Reporting Person.
Footnote - F2:  All of these shares are held in the name of First New Haven Mortgage Company, which is controlled by the Reporting Person.
Footnote - F3:  All of these shares are held in the name of ARGJ, LLC ("ARGJ"). The Reporting Person's brother, Richard LoRicco, Jr., is the manager of ARGJ. The Reporting Person is neither a manager nor a member of ARGJ. The Reporting Person disclaims beneficial ownership of all of the securities that are beneficially owned by ARGJ, except to the extent, if any, of his pecuniary interest therein.
Footnote - F4:  All of these shares are held in the name of RJC3, LLC ("RJC3"). The Reporting Person's brother, Richard LoRicco, Jr., is the manager of RJC3. The Reporting Person is neither a manager nor a member of RJC3. The Reporting Person disclaims beneficial ownership of all of the securities that are beneficially owned by RJC3, except to the extent, if any, of his pecuniary interest therein.
Footnote - F5:  All of these shares are held in the name of LoRi Co., which is controlled by the Reporting Person.
Footnote - F6:  This convertible promissory note bears a per annum interest rate of 20%, has a maturity date of May 12, 2021 and may be converted at the option of the Reporting Person at a per share conversion price equal to the per shares cash price paid by any third party investors with total proceeds to the Issuer of not less $500,000 while amounts remain outstanding under the convertible promissory note (the "Note").
Footnote - F7:  This common stock warrant (the "Warrant") was issued in connection with the Note described in footnote 6 above.
Footnote - F8:  The Note and the Warrant are held by The Richard A. LoRicco Sr. and Lucille M. LoRicco Irrevocable Insurance Trust DTD 4/28/95, Louis Demaio as Trustee (the "Trust") The Trust is maintained by Richard A. LoRicco Sr. and Lucille M. LoRicco, who are the parents of the Reporting Person. The Reporting Person disclaims beneficial ownership of the Notes and the Warrants held by the Trust, except to the extent, if any, of his pecuniary interest therein.
Owner Signature:
Signature Name:  /s/ Ronald J. LoRicco Sr.
Signature Date:  2/17/21


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