ACP Holdings Acquisition Corp. director August Roth filed an initial Form 3 reporting his status as a reporting person for the company’s securities. The filing lists no buy, sell, acquisition, disposition, or derivative transactions, serving only as a starting record of his beneficial ownership reporting.
ACP Holdings Acquisition Corp. director and executive officer Andrew Sung, who serves as President and CFO, filed an initial Form 3 to report his insider status with the company. The filing lists him as a reporting person but shows no share purchases, sales, or other transactions.
ACP Holdings Acquisition Corp. completed its initial public offering of 20,000,000 units at $10.00 each, raising gross proceeds of $200,000,000. Each unit includes one Class A ordinary share and one-half of a warrant, with each whole warrant exercisable at $11.50 per share.
The sponsor and Roth Capital Partners bought 485,000 Private Placement Units for $4,850,000, and $201,000,000, or $10.05 per public share, was placed in a U.S. trust account, including deferred underwriting commissions. Underwriters later partially exercised their over-allotment option for 1,461,600 additional units, adding $14,616,000 of gross proceeds.
ACP Holdings Acquisition Corp., a blank check company, completed its initial public offering and related private placements, raising substantial capital to pursue a future business combination. The company sold 20,000,000 units at $10.00 per unit, for gross proceeds of $200,000,000, and the underwriters partially exercised their over-allotment option for an additional 1,461,600 units, adding $14,616,000 in gross proceeds.
Concurrently, the sponsor and Roth Capital Partners purchased 485,000 private placement units for $4,850,000. In total, $215,689,080 of net proceeds from the IPO, over-allotment, and private placement was deposited into a trust account for the benefit of public shareholders. The company adopted amended and restated charter documents authorizing up to 500,000,000 Class A ordinary shares and appointed a five-member board, each receiving indemnification agreements.
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.
ACP Holdings Acquisition Corp. reported that Union Street Sponsor, LLC, an entity associated with CEO and chairman Andrew Mallozzi, acquired 435,000 Class A ordinary shares indirectly. These shares are the equity component of 435,000 private placement units bought at $10.00 per unit, totaling $4,350,000, each unit including one Class A share and one-half of a redeemable warrant.
The sponsor is the record holder, and Mallozzi, as managing member of the sponsor’s managing entity, has voting and investment discretion over these securities but disclaims beneficial ownership beyond any pecuniary interest.