Sec Form 3 Filing - KAUFMAN IVAN @ Arbor Rapha Capital Bioholdings Corp. I - 2021-10-28

FORM 3 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL OMB Number: 3235-0287 Expires: November 30, 2011 Estimated average burden hours per response... 0.5

1. Name and Address of Reporting Person KAUFMAN IVAN 2. Issuer Name and Ticker or Trading Symbol Arbor Rapha Capital Bioholdings Corp. I [ ARCK] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director X __ 10% Owner X __ Officer (give title below) _____ Other (specify below) Chief Executive Officer (Last) (First) (Middle) 333 EARLE OVINGTON BLVD. SUITE 900 3. Date of Earliest Transaction (MM/DD/YY) 10/28/2021 (Street) UNIONDALE, NY11553 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) _____ Form filed by One Reporting Person __ X __ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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

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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 7. Title and Amount of Underlying Securities (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 of Derivative Security: 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 Class B common stock ( 1 ) ( 1 ) ( 1 ) Class A common stock 4,312,500 I By Arbor Rapha Capital LLC ( 2 )

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other KAUFMAN IVAN 333 EARLE OVINGTON BLVD. SUITE 900 UNIONDALE, NY11553 X X Chief Executive Officer Arbor Rapha Capital LLC 333 EARLE OVINGTON BLVD. SUITE 900 UNIONDALE, NY11553 X X Chief Executive Officer ARBOR COMMERCIAL MORTGAGE LLC 333 EARLE OVINGTON BLVD. SUITE 900 UNIONDALE, NY11553 X X Chief Executive Officer Signatures /s/ Ivan Kaufman, as President and Chief Executive Officer of Arbor Commercial Mortgage LLC, Managing Member of Arbor Rapha Capital LLC 10/28/2021 Signature of Reporting Person Date /s/ Ivan Kaufman, as President and Chief Executive Officer of Arbor Commercial Mortgage LLC 10/28/2021 Signature of Reporting Person Date /s/ Ivan Kaufman 10/28/2021 Signature of Reporting Person Date

Explanation of Responses:

( 1 )As described in the issuer's registration statement on Form S-1 (File No. 333-259516) under the heading "Description of Securities--Founder Shares," the Class B common stock of the issuer, par value $0.0001 per share, will automatically convert into Class A common stock of the issuer, par value $0.0001 per share, at the time of the issuer's initial business combination, or earlier at the option of the holder, on a one-for-one basis, subject to certain adjustments, and have no expiration date. ( 2 )Arbor Rapha Capital LLC ("Sponsor") is the record holder of the shares of Class B common stock reported herein, which include 562,500 shares of Class B common stock that are subject to forfeiture to the extent that the underwriter of the issuer's public offering does not exercise its over-allotment option in full. Arbor Commercial Mortgage LLC ("ACM") is the managing member of Sponsor. Ivan Kaufman is President and Chief Executive Officer of ACM. As a result of the foregoing, Mr. Kaufman and ACM may be deemed to beneficially own shares held by Sponsor. Each of Mr. Kaufman and ACM disclaims beneficial ownership of the shares held by Sponsor except to the extent of his or its pecuniary interest therein.

Remarks: Mr. Kaufman serves on the board of directors of the issuer and serves as its Chief Executive Officer. On the basis of the relationship between Sponsor and Mr. Kaufman, Sponsor may be deemed a director by deputization with respect to the issuer for the purposes of Section 16 of the Securities Exchange Act of 1934, as amended.

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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.