Bright Green (BGXX) Form 4 Bright Green / Lynn Stockwell ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Stockwell Lynn

(Last) (First) (Middle)

1033 GEORGE HANOSH BOULEVARD

(Street)

GRANTS NM 87020

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Bright Green Corp [ BGXX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/18/2023

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/18/2023		G		2,500,000(1)	A	$0.00	67,583,475	D
Common Stock	08/22/2023		G		977,777(1)	D	$0.00	66,605,698	D
Common Stock	08/31/2023		S		250,000(2)	D	$0.4667	66,355,698	D
Common Stock	09/01/2023		J		2,827,960(3)	A	$1.15	69,183,658	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Warrant (right to buy)	$3	09/01/2023		J		2,827,960(3)		09/01/2023	(4)	Common Stock	2,827,960(3)	$0.13(3)	2,827,960	D

Explanation of Responses:

1. These transactions involved a bona fide gift of securities by the Reporting Person's child to the Reporting Person and subsequent bona fide gift of securities by the Reporting Person to family members of the Report Person. No consideration was paid by or to the Reporting Person in connection with these transactions.

2. This transaction involved an open market sale of the Issuer's Common Stock. Reflects the weighted average price of 250,000 shares of common stock of the Issuer sold by the Reporting Person in multiple transactions on August 31, 2023, with sales prices ranging from $0.4549 to $0.4823 per share. The Reporting Person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.

3. In connection with an unsecured line of credit in the form of a note (the "Note") between the Issuer and the Reporting Person, on September 1, 2023, the Issuer and the Reporting Person entered into an agreement pursuant to which the Issuer issued to the Reporting Person (i) 2,827,960 shares (the "Shares") of the Issuer's common stock at a conversion price of $1.15 per share, and (ii) warrants (the "Warrants") to purchase up to 2,827,960 shares of the Issuer's common stock at a conversion price of $0.13 per warrant. The issuance of the Shares and the Warrants was made to settle all amounts of principal interests and other costs under the Note as of August 31, 2023 (the "Repayment Obligation").

4. The Warrants are exercisable immediately upon issuance at an exercise price of $3.00 per share, and shall expire on the earlier of (i) the date that is 45 days after the closing price of the Common Stock on the Nasdaq Capital Market equals or exceeds $3.00 per share, and (ii) August 31, 2024.

	/s/ Lynn Stockwell	09/06/2023
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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