CID Holdco (DAIC) director discloses multi-million share stake
Rhea-AI Filing Summary
CID Holdco, Inc. (DAIC) disclosed a new insider ownership report showing that a reporting person directly beneficially owns 4,967,391 shares of DAIC common stock. This Form 3 filing reflects ownership received in connection with a business combination in which CID Holdco, Inc. acquired SEE ID, Inc. under a Business Combination Agreement dated March 18, 2024. The consideration to SEE ID shareholders was based on an agreed value of $171,635,010 divided by $10.00 per share of CID Holdco common stock, clarifying how the equity stake was determined as part of the transaction.
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- F1. Received in connection with the acquisition (the "Business Combination") by CID HoldCo, Inc. ( "Issuer") of SEE ID, Inc., a Nevada corporation ("SEE ID"), in accordance with the terms of a Business Combination Agreement, dated March 18, 2024, by and among Issuer, ShoulderUp Technology Acquisition Corp, ShoulderUp Merger Sub, Inc., SEI Merger Sub, Inc. and SEE ID. The consideration payable to the shareholders of SEE ID in connection with the Business Combination was equal to a number of shares of Issuer's common stock equal to the quotient of (i) $171,635,010 divided by (ii) $10.00.
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FAQ
What does the Form 3 filing for CID Holdco, Inc. (DAIC) disclose?
The Form 3 reports that a newly listed reporting person directly beneficially owns 4,967,391 shares of CID Holdco, Inc. common stock following a business combination transaction.
Does the Form 3 list any derivative securities for the DAIC insider?
Table II in the filing is present for derivative securities, but no specific derivative securities are listed for the reporting person in the provided content.