Daedalus Special Acquisition (DSACU) sponsor forfeits 291,667 Class B shares
Rhea-AI Filing Summary
Daedalus Special Acquisition LLC, the sponsor of Daedalus Special Acquisition Corp., forfeited 291,667 Class B ordinary shares to the company in connection with the partial exercise of the underwriters' over-allotment option. The transaction was reported on a Form 4 by Husnu Akin Babayigit, who serves as Co‑Chief Executive Officer, director and 10% owner of the issuer.
The forfeited shares were indirectly held through the sponsor, and the filing shows 8,333,333 derivative securities beneficially owned indirectly after the transaction. The Class B ordinary shares automatically convert into Class A ordinary shares on a one‑for‑one basis at or around the issuer’s initial business combination, and they have no expiration date. Babayigit has shared voting and dispositive power over the sponsor’s holdings and disclaims beneficial ownership beyond any pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Class B ordinary shares | 291,667 | $0.00 | -- |
Footnotes (1)
- The Class B ordinary shares will automatically convert into Class A ordinary shares concurrently with or immediately following the consummation of the Issuer's initial business combination, or earlier at the option of the holders thereof on a one-for-one basis, subject to the adjustments. The Class B ordinary shares have no expiration date. Consists of shares owned by Daedalus Special Acquisition LLC (the "sponsor"). 291,667 Class B ordinary shares were forfeited to the Issuer in connection with the partial exercise of the over-allotment option by BTIG, LLC, the representative for the underwriters. Husnu Akin Babayigit is a manager of the sponsor and has shared voting and dispositive power over the shares owned by the sponsor. Husnu Akin Babayigit disclaims any beneficial ownership of the reported shares other than to the extent of any pecuniary interest he may have therein, directly or indirectly.