Director Barry McCarthy discloses 20,000 Class B shares in GCGRU Form 3
Filing Impact
Filing Sentiment
Form Type
3
Rhea-AI Filing Summary
General Catalyst Global Resilience Merger Corp. director Barry McCarthy reported his initial beneficial ownership on a Form 3. He holds 20,000 Class B ordinary shares, which are convertible into 20,000 Class A ordinary shares.
The footnote explains these Class B shares are convertible at the holder’s option on a one-for-one basis until the company completes its initial business combination. After that, they will automatically convert into Class A shares over a ten-year period based on a formulaic conversion schedule and rates.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
McCARTHY BARRY
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Class B ordinary shares | -- | -- | -- |
Holdings After Transaction:
Class B ordinary shares — 20,000 shares (Direct, null)
Footnotes (1)
- [object Object]
Key Figures
Class B shares held: 20,000 shares
Underlying Class A shares: 20,000 shares
Conversion price: $0.0000 per share
+1 more
4 metrics
Class B shares held
20,000 shares
Total Class B ordinary shares held directly after reported holdings
Underlying Class A shares
20,000 shares
Class A ordinary shares underlying the reported Class B shares
Conversion price
$0.0000 per share
Conversion or exercise price from Class B into Class A ordinary shares
Initial ownership entries
1 holding entry
Form 3 transaction summary shows one holding entry and no buys or sells
Key Terms
Class B ordinary shares, Class A ordinary shares, initial business combination, formulaic conversion schedule
4 terms
initial business combination financial
"until the issuer's initial business combination, after which, such Class B ordinary shares will automatically convert"
An initial business combination is the deal in which a special-purpose acquisition company (SPAC) merges with or acquires an operating business to bring that business onto public markets. Think of the SPAC as an empty shell that raises money from investors, then uses that cash to buy a private company—this transaction turns the private company into a public one and often changes its ownership, valuation, and access to capital, so investors should watch for shifts in risk, future growth prospects, and shareholder rights.
formulaic conversion schedule financial
"over a ten year period following the issuer's initial business combination based on a formulaic conversion schedule and rates"
FAQ
What did Barry McCarthy report in his Form 3 for GCGRU?
Barry McCarthy reported his initial beneficial ownership as a director of General Catalyst Global Resilience Merger Corp., disclosing 20,000 Class B ordinary shares that are convertible into 20,000 Class A ordinary shares under specified conversion terms over time.
Does the GCGRU Form 3 show any buying or selling by Barry McCarthy?
The Form 3 is an initial ownership report and does not show explicit purchases or sales. It lists 20,000 Class B ordinary shares held directly, along with their conversion terms into Class A ordinary shares, rather than recording a new market transaction.