GalaxyEdge Acquisition Corp (GLED) director reports 3.72M indirect shares
Filing Impact
Filing Sentiment
Form Type
3
Rhea-AI Filing Summary
GalaxyEdge Acquisition Corp director Gong Qi has filed an initial ownership report showing indirect holdings in the company. The filing lists 3,720,000 ordinary shares held by Equinox Capital Solutions Limited, which acquired these shares before the company’s initial public offering.
The report also notes 227,500 rights underlying private placement units sold alongside the initial public offering. Each right is exchangeable into one-fourth of one ordinary share upon completion of the company’s initial business combination, representing 56,875 underlying ordinary shares held indirectly.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Gong Qi
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Rights | -- | -- | -- |
| holding | Ordinary Shares, par value $0.0001 per share | -- | -- | -- |
Holdings After Transaction:
Rights — 56,875 shares (Indirect, See Footnote);
Ordinary Shares, par value $0.0001 per share — 3,720,000 shares (Indirect, See Footnote)
Footnotes (1)
- Includes 3,720,000 ordinary shares of the Issuer acquired by Equinox Capital Solutions Limited prior to the Issuer's initial public offering. Includes 227,500 rights underlying the private placement units, which were sold in a private placement taking place simultaneously with the Issuer 's initial public offering. Each right is exchangeable for one-fourth of one ordinary share upon the completion of the Issuer 's initial business combination. Equinox Capital Solutions Limited, a British Virgin Islands limited liability company, is the record holder of the securities reported herein, which is controlled by Ms. Yanfang Chen.
Key Figures
Indirect ordinary shares: 3,720,000 shares
Reported rights: 227,500 rights
Underlying shares from rights: 56,875 shares
+2 more
5 metrics
Indirect ordinary shares
3,720,000 shares
Indirectly held via Equinox Capital Solutions Limited prior to IPO
Reported rights
227,500 rights
Underlying private placement units sold with IPO
Underlying shares from rights
56,875 shares
Each right exchangeable into one-fourth ordinary share at business combination
Rights position after report
56,875 underlying shares
Total underlying Ordinary Shares following reported holdings
Exercise price of rights
$0.0000 per share
Conversion or exercise price for reported rights
Key Terms
initial public offering, private placement units, rights, Ordinary Shares, +1 more
5 terms
initial public offering financial
"acquired by Equinox Capital Solutions Limited prior to the Issuer's initial public offering"
An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.
private placement units financial
"rights underlying the private placement units, which were sold in a private placement"
rights financial
"Includes 227,500 rights underlying the private placement units"
Rights are special privileges that give existing shareholders the opportunity to buy additional shares of a company's stock before they are offered to the public. They help investors maintain their ownership percentage and can be seen as a way to protect their investment stake. Think of rights like a VIP pass allowing current investors to purchase new shares first, ensuring they can preserve their influence in the company.
initial business combination financial
"upon the completion of the Issuer's initial business combination"
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.
FAQ
What does Gong Qi’s Form 3 for GLED disclose?
The Form 3 shows director Gong Qi’s initial indirect ownership in GalaxyEdge Acquisition Corp through Equinox Capital Solutions Limited, including 3,720,000 ordinary shares and rights that can become additional ordinary shares after the company completes its initial business combination.
What rights are reported in the GalaxyEdge (GLED) Form 3?
The Form 3 notes 227,500 rights underlying private placement units sold simultaneously with the initial public offering. Each right is exchangeable into one-fourth of one ordinary share upon the completion of GalaxyEdge Acquisition Corp’s initial business combination, creating potential additional equity.
Who is the record holder of the GLED securities in this Form 3?
Equinox Capital Solutions Limited, a British Virgin Islands limited liability company, is identified as the record holder of the securities reported. The filing states that Equinox Capital Solutions Limited is controlled by Ms. Yanfang Chen, providing additional context about the indirect ownership structure.