Disciplined Growth insider reports 4.9M founder shares
Disciplined Growth Acquisition Corp filed an initial insider ownership report showing that Disciplined Growth Sponsor LLC holds 4,900,000 Class B ordinary shares.
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Rhea-AI Filing Summary
Disciplined Growth Acquisition Corp filed an initial insider ownership report showing that Disciplined Growth Sponsor LLC holds 4,900,000 Class B ordinary shares. These Class B shares automatically convert into Class A ordinary shares on a one-for-one basis in connection with the company’s initial business combination. Up to 750,000 of these founder shares may be forfeited if the IPO underwriters do not fully exercise their over-allotment option. The sponsor is the record holder, and Chief Executive Officer and director Robert Wotczak, as sole managing member, has voting and dispositive control but disclaims beneficial ownership beyond his pecuniary interest.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Class B Ordinary Shares | -- | -- | -- |
Footnotes (3)
- F1. As described in the registration statement on Form S-1 (File No. 333-295097) of Disciplined Growth Acquisition Corporation (the "Issuer") under the heading "Description of Securities--Founder 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 at any time prior to the Issuer's initial business combination, at the option of the holder, on a one-for-one basis, subject to certain adjustments. The Class B ordinary shares have no expiration date.
- F2. These shares represent the Class B ordinary shares held by Disciplined Growth Sponsor LLC (the "Sponsor") acquired pursuant to a subscription agreement by and between the Issuer and the Sponsor. The Class B ordinary shares include up to 750,000 shares that are subject to forfeiture in the event the underwriters of the Issuer's initial public offering do not exercise in full their over-allotment option as described in the Issuer's registration statement.
- F3. The Sponsor is the record holder of the Class B ordinary shares reported herein. The sole managing member of the Sponsor is Robert Wotczak (the "Managing Member"). Mr. Wotczak is the Chief Executive Officer and a director of the Issuer. Mr. Wotczak has voting and dispositive control over the Class B ordinary shares held by the Sponsor and reported hereunder. Mr. Wotczak disclaims beneficial ownership to these securities other than to the extent that he has a pecuniary interest therein.
Key Figures
Key Terms
over-allotment option financial
subscription agreement financial
pecuniary interest financial
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