Clearthink 1 Acquisition Corp. (CTAAU) CEO reports indirect sponsor share holdings
Rhea-AI Filing Summary
Clearthink 1 Acquisition Corp. director and CEO Brock William filed an initial ownership report showing indirect interests in securities held by ClearThink 1 Sponsor LLC. The filing lists 4,791,667 Class B ordinary shares, 315,000 Class A ordinary shares underlying private placement units, and 63,000 rights held through the sponsor entity.
The Class B ordinary shares automatically convert into Class A ordinary shares on a one-for-one basis upon the company’s initial business combination or earlier at the holder’s option, subject to adjustments. The disclosure also notes that up to 625,000 founder shares may be forfeited depending on underwriters’ over-allotment exercise, and that each right entitles the holder to receive one-fifth of one Class A ordinary share after a business combination.
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Class B Ordinary Shares | -- | -- | -- |
| holding | Rights | -- | -- | -- |
| holding | Class A Ordinary Shares | -- | -- | -- |
Footnotes (1)
- Represents Class A ordinary shares underlying the private placement units (the "Private Units") purchased concurrently with the initial public offering of the Issuer. The number of Class A ordinary shares does not include the rights entitling the holder to receive one-fifth of one Class A ordinary share upon the consummation of a business combination, which comprise a part of the Private Units of the Issuer purchased by ClearThink 1 Sponsor LLC (the "Sponsor") concurrently with the consummation of the Issuer's initial public offering. The Sponsor is the record holder of the shares reported herein. ClearThink 1 Sponsor Manager LLC, the managers of which are the Reporting Person, the Issuer's Chief Executive Officer, and Ari Brown, a Managing Director at ClearThink Capital LLC, is the sole managing members of the Sponsor. Mr. Brock and Mr. Brown have sole voting and investment discretion with respect to the ordinary shares held of record by the Sponsor. As described in the Issuer's Registration Statement on Form S-1, as amended (File No. 333-292967) under the heading "Description of Securities - Ordinary Shares", the Class B Ordinary Shares will automatically convert into Class A ordinary shares at the time of the Issuer's initial business combination or earlier at the option if the holder on a one-for-one basis, subject to certain adjustments described therein and have no expiration date. Includes up to 625,000 founder shares that will be forfeited depending on the extent to which the underwriters' over-allotment option is exercised. Represents 315,000 rights underlying the Private Units. Each right entitles the holder to receive one-fifth of one Class A ordinary share upon the consummation of the Issuer's initial business combination.
