ALTS insider Form 3 lists indirect shares and large warrant holdings
Rhea-AI Filing Summary
ALT5 Sigma Corp (ALTS) filed a Form 3 reporting the initial beneficial ownership of director Zachary Folkman. The filing lists 1,000,000 shares of common stock held indirectly through World Liberty Financial, Inc. (WLFI).
Indirect derivative positions include warrants for 8,000,000 shares at $7.50, 4,000,000 at $8.25, 4,000,000 at $9.00, and 4,000,000 at $9.75, all without expiration and exercisable subject to a 4.99% beneficial ownership limit. Pre-funded warrants for 99,000,000 shares at $0.001 are exercisable from October 16, 2025 after stockholder approvals and an authorized share increase. WLFI is noted as a director by deputization.
Positive
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Negative
- None.
Insights
Administrative Form 3 detailing indirect holdings and exercise limits.
This is an initial ownership report under Section 16. It shows indirect holdings via WLFI: 1,000,000 common shares and multiple warrant series with exercise prices of $7.50, $8.25, $9.00, and $9.75. The filing states a 4.99% beneficial ownership cap on exercises, which limits how many shares can be acquired at any time.
Pre-funded warrants for 99,000,000 shares at $0.001 become exercisable from October 16, 2025 following stockholder approvals and an authorized share increase. The warrants have no expiration per the disclosure. Cash-flow treatment isn’t addressed; actual impact depends on holder exercise decisions within these constraints.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Warrants to Purchase Common Stock | -- | -- | -- |
| holding | Warrants to Purchase Common Stock | -- | -- | -- |
| holding | Warrants to Purchase Common Stock | -- | -- | -- |
| holding | Warrants to Purchase Common Stock | -- | -- | -- |
| holding | Pre-Funded Warrants to Purchase Common Stock | -- | -- | -- |
| holding | Common stock, Par Value $0.001 | -- | -- | -- |
Footnotes (1)
- The reported securities are held directly by World Liberty Financial, Inc. ("WLFI"). Zachary Folkman holds an indirect interest in WLFI, and may indirectly share in the proceeds from the sale of the Issuer's securities by WLFI. Mr. Witkoff disclaims beneficial ownership of the reported securities, except to the extent of his pecuniary interest, if any, and this Form 3 shall not be deemed an admission that he is the beneficial owner of the reported securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose. Subject to a 4.99% beneficial ownership limitation, each of the Warrants is exercisable at any time after issuance at the specified exercise price. The Warrants do not have an expiration date. Subject to a 4.99% beneficial ownership limitation, each of the Pre-Funded Warrants is exercisable for one share of Common Stock at an exercise price of $0.001 per Pre-Funded Warrant Share. The Pre-Funded Warrants are exercisable from and after October 16, 2025 following the approval by the Issuer's stockholders at a special meeting to: (i) allow, for the purpose of complying with Nasdaq rules, the issuance of shares underlying the Pre-Funded Warrant in excess of 19.99% of the shares of common stock outstanding immediately prior to their acquisition, and (ii) filed an amendment to its Articles of Incorporation to increase the number of authorized shares of common stock. The Pre-Funded Warrants do not have an expiration date.
