flyExclusive Form 4: Gregg Hymowitz Reports Warrant Purchase, 4.9M Stake
Rhea-AI Filing Summary
Gregg S. Hymowitz and EG Sponsor LLC reported a derivative securities purchase on 09/04/2025. The filing shows acquisition of 7,856 warrants with a stated warrant price of $11.50 and an expiration date of December 27, 2028. Each warrant relates to one share of Class A common stock; the table lists 7,856 underlying shares and a price of $0.21. Following the reported transaction, the reporting persons are shown as beneficially owning 4,902,190 shares on an indirect basis. Footnotes describe the ownership chain through EG Sponsor, EnTrust Global entities and affiliates and clarify shared beneficial ownership through managing-member relationships.
Positive
- Acquisition of 7,856 warrants on 09/04/2025 is clearly disclosed, showing transparency of insider transactions.
- Warrants expire 12/27/2028, providing a multi-year horizon for conversion or exercise.
- Beneficial ownership of 4,902,190 shares (indirect) is reported, giving clarity on insider stake size.
Negative
- None.
Insights
TL;DR: Insider purchase of 7,856 warrants; sizable indirect stake of 4.9M shares remains.
The Form 4 documents a purchase-designated derivative transaction (code "P") dated 09/04/2025 for 7,856 warrants exercisable into Class A common stock, carrying a $11.50 warrant price and a stated expiration of 12/27/2028. The filing indicates 4,902,190 shares are beneficially owned indirectly following the transaction, reflecting continued concentrated insider ownership. This is a routine Section 16 disclosure showing ownership structure and option/warrant holdings rather than operational or financial performance changes.
TL;DR: Disclosure clarifies complex indirect ownership through sponsor and affiliated entities.
The disclosures and footnotes outline a multi-tiered beneficial ownership chain: EG Sponsor holds the reported securities and EnTrust Global Partners Offshore LP, EnTrust Global Group LLC, EnTrust Global LLC and GH EP Holdings LLC are described as managing members or affiliates with voting and investment discretion. Gregg Hymowitz is identified in the chain as a managing member, resulting in shared beneficial ownership attribution. The filing properly attributes indirect ownership and cautions disclaimers from affiliates about beneficial ownership beyond pecuniary interest.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Warrant (Right to Buy) | 7,856 | $0.21 | $2K |
Footnotes (1)
- The warrants will expire on December 27, 2028, 5 years after the completion of the registrant's initial business combination or earlier upon redemption or liquidation, as described in the S-1. Held by EG Sponsor. EnTrust Global Partners Offshore LP is the managing member of EG Sponsor and as such has voting and investment discretion with respect to the securities held of record by the Sponsor and may be deemed to have shared beneficial ownership (along with EnTrust Global Group LLC, EnTrust Global LLC, GH EP Holdings LLC and EG Sponsor) of the securities held directly by EG Sponsor. Gregg Hymowitz is the managing member of GH EP Holdings, LLC, which is the managing member of EnTrust Global LLC, which is the managing member of EnTrust Global Group LLC, which serves as the general partner of EnTrust Global Partners Offshore LP, and as a result, may be deemed to have shared beneficial ownership of the securities held directly by EG Sponsor. (Continued from footnote 2) An affiliate of GMF Capital has an approximately 50% membership interest in EG Sponsor. Each such person disclaims any beneficial ownership of such securities except the reported shares other than to the extent of its or his pecuniary interest therein.
