<SEC-DOCUMENT>0000905718-20-001013.txt : 20201002
<SEC-HEADER>0000905718-20-001013.hdr.sgml : 20201002
<ACCEPTANCE-DATETIME>20201002160515
ACCESSION NUMBER:		0000905718-20-001013
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20200930
FILED AS OF DATE:		20201002
DATE AS OF CHANGE:		20201002

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ABRY Senior Equity V, L.P.
		CENTRAL INDEX KEY:			0001690188
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39080
		FILM NUMBER:		201219963

	BUSINESS ADDRESS:	
		STREET 1:		C/O ABRY PARTNERS II, LLC
		STREET 2:		888 BOYLSTON ST., SUITE 1600
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02199
		BUSINESS PHONE:		617-859-2959

	MAIL ADDRESS:	
		STREET 1:		C/O ABRY PARTNERS II, LLC
		STREET 2:		888 BOYLSTON ST., SUITE 1600
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02199

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PowerFleet, Inc.
		CENTRAL INDEX KEY:			0001774170
		STANDARD INDUSTRIAL CLASSIFICATION:	COMMUNICATIONS EQUIPMENT, NEC [3669]
		IRS NUMBER:				834366463
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		123 TICE BLVD.
		CITY:			WOODCLIFF LAKE
		STATE:			NJ
		ZIP:			07677
		BUSINESS PHONE:		201-996-9000

	MAIL ADDRESS:	
		STREET 1:		123 TICE BLVD.
		CITY:			WOODCLIFF LAKE
		STATE:			NJ
		ZIP:			07677
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>powerfleet_fm4sep302020.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2020-09-30</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001774170</issuerCik>
        <issuerName>PowerFleet, Inc.</issuerName>
        <issuerTradingSymbol>PWFL</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001690188</rptOwnerCik>
            <rptOwnerName>ABRY Senior Equity V, L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O ABRY PARTNERS II, LLC</rptOwnerStreet1>
            <rptOwnerStreet2>888 BOYLSTON ST., SUITE 1600</rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02199</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Series A Preferred Stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F1"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2020-09-30</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F2"/>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>829.703</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>829703.46</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F1"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock, par value $0.01 per share</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>113363</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>45080.554</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Each share of Series A Preferred Stock is convertible at any time, at the option of the holder, into a number of shares of common stock, par value $0.01 per share, of the Issuer (the &quot;Common Stock&quot;) determined by dividing the issue price of the Series A Preferred Stock ($1,000 per share) (the &quot;Issue Price&quot;), plus any accrued and unpaid dividends, by the Series A Conversion Price at the time of conversion. The initial Series A Conversion Price is equal to $7.319, and is subject to adjustment. The Series A Preferred Stock has no expiration date.</footnote>
        <footnote id="F2">The Reporting Person received 829.703 shares of Series A Preferred Stock (or 113,363 shares of Common Stock on an as-covered basis) as a payment-in-kind dividend on 44,250.851 shares of Series A Preferred Stock (or 6,046,025 shares of Common Stock on an as-covered basis) owned on the dividend record date.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Jay M. Grossman, Manager of ABRY Senior Equity Holdings V, LLC, the general partner of ABRY Senior Equity Investors V, L.P., the general partner of ABRY Senior Equity V, L.P.</signatureName>
        <signatureDate>2020-10-02</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
