<SEC-DOCUMENT>0000905718-20-001015.txt : 20201002
<SEC-HEADER>0000905718-20-001015.hdr.sgml : 20201002
<ACCEPTANCE-DATETIME>20201002161312
ACCESSION NUMBER:		0000905718-20-001015
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 Holdings V, LLC
		CENTRAL INDEX KEY:			0001790054
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39080
		FILM NUMBER:		201220127

	BUSINESS ADDRESS:	
		STREET 1:		C/O ABRY PARTNERS II, LLC
		STREET 2:		888 BOYLSTON STREET, 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 STREET, 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>0001790054</rptOwnerCik>
            <rptOwnerName>ABRY Senior Equity Holdings V, LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O ABRY PARTNERS II, LLC</rptOwnerStreet1>
            <rptOwnerStreet2>888 BOYLSTON STREET, 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>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnotes</value>
                    <footnoteId id="F3"/>
                    <footnoteId id="F4"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <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="F5"/>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>158.980</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>158980.28</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>21722</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>8637.928</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnotes</value>
                    <footnoteId id="F4"/>
                    <footnoteId id="F6"/>
                </natureOfOwnership>
            </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">ABRY Senior Equity V, L.P. (&quot;ASE&quot;) 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>
        <footnote id="F3">These securities are held directly by ASE. ABRY Senior Equity Investors V, L.P. (&quot;ASEI&quot;) is the general partner of ASE. ABRY Senior Equity Holdings V, LLC (&quot;ASEH&quot;) is the general partner of ASEI. By virtue of such relationships, ASEH may be deemed to have voting and investment power with respect to the securities held by ASE noted above and as a result may be deemed to have beneficial ownership over such securities.</footnote>
        <footnote id="F4">ASEH disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) of the Securities Exchange of 1934, as amended (the &quot;Exchange Act&quot;), except to the extent of its pecuniary interest therein, if any. Currently Medhini Srinivasan (&quot;Srinivasan&quot;), a Principal of ABRY Partners II, LLC (&quot;ABRY Partners&quot;), an affiliate of ASEH, and Anders Bjork (&quot;Bjork&quot;), a Partner of ABRY Partners, serve on the Issuer's board of directors. Each of Srinivasan and Bjork has no control or voting power over the securities held by ASE and ABRY Senior Equity Co-Investment Fund V, L.P. (&quot;ASECF&quot;). This report shall not be deemed an admission that any of ASEH, Srinivasan or Bjork is a beneficial owner of such securities for the purpose of Section 16 of the Exchange Act, or for any other purpose, except to the extent of their pecuniary interest therein, if any.</footnote>
        <footnote id="F5">ASECF received 158.98 shares of Series A Preferred Stock (or 21,722 shares of Common Stock on an as-covered basis) as a payment-in-kind dividend on 8,478.948 shares of Series A Preferred Stock (or 1,158,485 shares of Common Stock on an as-covered basis) owned on the dividend record date.</footnote>
        <footnote id="F6">These securities are held directly by ASECF. ASECI is the general partner of ASECF. ASEH is the sole member of ASECI. By virtue of such relationships, ASEH may be deemed to have voting and investment power with respect to the securities held by ASECF noted above and as a result may be deemed to have beneficial ownership over such securities.</footnote>
    </footnotes>

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