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Sec Form 4 Filing - WEIL A LORNE @ Leisure Acquisition Corp. - 2017-12-05

  1. About Form 4 Filing: Every director, officer or owner of more than ten percent of a class of equity securities registered under Section 12 of the '34 Act must file with the U.S. Securities and Exchange Commission (SEC) a statement of ownership regarding such security. The initial filing is on Form 3 and changes are reported on Form 4. The Annual Statement of beneficial ownership of securities is on Form 5. The forms contain information on the reporting person's relationship to the company and on purchases and sales of such equity securities.
  2. Form 4 is stored in SEC's EDGAR database. EDGAR is Electronic Data Gathering, Analysis and Retrieval System. It is a registered trademark of the SEC.

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FORM 4
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
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1. Name and Address of Reporting Person *
WEIL A LORNE
2. Issuer Name and Ticker or Trading Symbol
Leisure Acquisition Corp. [ LACQ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X __ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
Executive Chairman
(Last)
(First)
(Middle)
C/O LEISURE ACQUISITION CORP.,, 250 WEST 57TH STREET, SUITE #2223
3. Date of Earliest Transaction (MM/DD/YY)
12/05/2017
(Street)
NEW YORK, NY10107
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
Common Stock 12/05/2017 J 187,166 ( 1 ) D $ 0 ( 1 ) 307,545 ( 2 ) D
Common Stock 12/05/2017 J 169,517 ( 3 ) D $ 0 ( 3 ) 1,000,000 ( 4 ) I See Footnote ( 5 )
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
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
WEIL A LORNE
C/O LEISURE ACQUISITION CORP.,
250 WEST 57TH STREET, SUITE #2223
NEW YORK, NY10107
X Executive Chairman
Hydra LAC, LLC
C/O HYDRA MANAGEMENT, LLC
250 WEST 57TH STREET SUITE 2223
NEW YORK, NY10107
Sponsor Affiliate of the Co.
Signatures
/s/ A. Lorne Weil 12/05/2017
** Signature of Reporting Person Date
/s/ A. Lorne Weil, Managing Member of Hydra LAC, LLC 12/05/2017
** Signature of Reporting Person Date
Explanation of Responses:
( 1 )As contemplated by the securities subscription agreement between such reporting person and the Company, 187,166 shares held by Mr. Weil were forfeited upon consummation of the Company's initial public offering for no consideration.
( 2 )Includes an aggregate of 40,645 shares held by Mr. Weil that are subject to forfeiture to the extent that the underwriters' overallotment option in the Company's initial public offering is not exercised.
( 3 )As contemplated by the securities subscription agreement between such reporting person and the Company, 169,517 shares held by Hydra LAC, LLC, an affiliate of a sponsor of the Company (the "Sponsor Affiliate"), were forfeited upon consummation of the Company's initial public offering for no consideration.
( 4 )Includes an aggregate of 132,159 shares held by the Sponsor Affiliate that are subject to forfeiture to the extent that the underwriters' overallotment option in the Company's initial public offering is not exercised.
( 5 )Represents shares of common stock held by the Sponsor Affiliate. The shares held by the Sponsor Affiliate are beneficially owned by A. Lorne Weil, who has sole voting and dispositive power over the shares held by the Sponsor Affiliate. Mr. Weil owns all of the membership interests in the Sponsor Affiliate. Mr. Weil disclaims beneficial ownership over any securities owned by the Sponsor Affiliate in which he does not have any pecuniary interest.

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.