ACP Holdings sponsor buys 435K shares in IPO
Union Street Sponsor, LLC, a 10% owner of ACP Holdings Acquisition Corp., reported an open-market style purchase tied to the company’s initial public offering.
Rhea-AI Filing Summary
Union Street Sponsor, LLC, a 10% owner of ACP Holdings Acquisition Corp., reported an open-market style purchase tied to the company’s initial public offering. The sponsor purchased 435,000 private placement units, each including one Class A ordinary share and one-half of a redeemable warrant, at $10.00 per unit, for a total of $4,350,000. Following the transaction, the sponsor holds 435,000 Class A ordinary shares. The filing notes that Union Street Management Sponsor, LLC manages the sponsor, and Andrew Mallozzi has voting and investment discretion, while disclaiming beneficial ownership beyond any pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Class A ordinary shares | 435,000 | $0.00 | $0.00 |
Footnotes (3)
- F1. Simultaneously with the consummation of ACP Holdings Acquisition Corp.'s (the "Issuer") initial public offering, Union Street Sponsor, LLC (the "Sponsor") purchased 435,000 private placement units ("Private Placement Units"), each consisting of (i) one Class A ordinary share and (ii) one-half of one redeemable warrant, at a price of $10.00 per unit, or $4,350,000 in the aggregate.
- F2. Reflects the 435,000 Class A ordinary shares underlying the Private Placement Units.
- F3. The Sponsor is the record holder of such shares. Union Street Management Sponsor, LLC is the managing member of the Sponsor. Andrew Mallozzi is the managing member of the Union Street Management Sponsor, LLC, and has voting and investment discretion with respect to the securities held of record by the Sponsor. Mr. Mallozzi disclaims any beneficial ownership of the securities held by the Sponsor other than to the extent of any pecuniary interest he may have therein, directly or indirectly.
Key Figures
Key Terms
private placement units financial
redeemable warrant financial
beneficial ownership financial
pecuniary interest financial
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