Fortress Value Sponsor reports 7,157,500 Class B
Rhea-AI Filing Summary
Fortress Value Acquisition Sponsor V LLC reported its beneficial ownership of Class B ordinary shares of Fortress Value Acquisition Corp. V. The Sponsor directly holds 7,157,500 Class B shares, including 937,500 that may be forfeited if the IPO underwriter does not fully exercise its over-allotment option.
These Class B shares have no expiration date and are convertible into Class A ordinary shares on a one-for-one basis at any time at the holder’s option. They will also automatically convert into Class A shares on the completion of the company’s initial business combination, subject to the adjustment terms described in the S-1 registration statement.
Positive
- None.
Negative
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Class B Ordinary Shares, par value $0.0001 per share | -- | -- | -- |
Footnotes (1)
- F1. Fortress Value Acquisition Sponsor V LLC (the "Sponsor") directly owns 7,157,500 Class B ordinary shares, par value $0.0001 per share (the "Class B Shares"), of the Issuer, including 937,500 Class B Shares that are subject to forfeiture if the underwriter of the Issuer's initial public offering does not exercise in full an option granted to them to cover over-allotments. Such Class B Shares have no expiration date and (i) are convertible into Class A ordinary shares, par value $0.0001 per share ("Class A Shares"), of the Issuer at any time at the option of the holder on a one-for-one basis and (ii) will automatically convert into Class A Shares at the time of the Issuer's initial business combination on a one-for-one basis, in each case, subject to adjustment as described under the heading "Description of Securities-Founder Shares and Private Placement Shares" in the Issuer's registration statement on Form S-1 (File No. 333-293340).
FAQ
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What insider position does Fortress Value Acquisition Sponsor V LLC report in FVAV on this Form 3?
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