Hennessy Capital Investment Corp. VIII (HCICU) insider reports 671,000-share Class A buy
Rhea-AI Filing Summary
Hennessy Capital Investment Corp. VIII President, director and 10% owner Thomas D. Hennessy reported insider transactions involving both Class A and Class B ordinary shares. An affiliated entity, HC VIII Sponsor LLC, purchased 671,000 Class A shares at $10 per share in a private placement, indirectly attributable to him.
The 671,000 Class A shares are part of 671,000 private placement units, each including one Class A share and a right to receive one-twelfth of a Class A share upon an initial business combination. Sponsor also received 1,782,086 Class B shares via share dividend, which are convertible into Class A shares on a one-for-one basis with no expiration date.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 671,000 shares
Net Buy
3 txns
Insider
Hennessy Thomas D
Role
President
Bought
671,000 shs ($6.71M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Class A ordinary shares | 671,000 | $10.00 | $6.71M |
| Other | Class B ordinary shares | 1,782,086 | $0.00 | $0.00 |
| holding | Class B ordinary shares | -- | -- | -- |
Holdings After Transaction:
Class B ordinary shares — 9,512,515 shares (Indirect, See Explanation of Responses);
Class A ordinary shares — 671,000 shares (Indirect, See Explanation of Responses);
Class B ordinary shares — 750,000 shares (Direct)
Footnotes (4)
- F1. Reflects the 671,000 Class A ordinary shares of the registrant that are included in the 671,000 private placement units of the registrant purchased by HC VIII Sponsor LLC ("Sponsor"). Each private placement unit consists of one Class A ordinary share and one right to receive one-twelfth (1/12) of one Class A ordinary share upon the consummation of an initial business combination.
- F2. Sponsor is the record holder of the securities reported herein. Hennessy Capital Group LLC is the sole manager of Sponsor. Daniel J. Hennessy, the registrant's Chairman and Chief Executive Officer, and Thomas D. Hennessy, the registrant's President and a director, are the managing members of Hennessy Capital Group LLC. Consequently, each of Mr. Daniel Hennessy and Mr. Thomas Hennessy may be deemed the beneficial owner of securities held by Sponsor and have shared voting and dispositive control over such securities. Mr. Thomas Hennessy disclaims beneficial ownership over any securities owned by Sponsor in which he does not have any pecuniary interest.
- F3. As described in the registrant's Registration Statement on Form S-1 (File No. 333-291924) under the heading "Description of Securities-Founder Shares," the Class B ordinary shares will automatically convert into Class A ordinary shares at the time of the registrant's initial business combination, or at any time prior thereto at the option of the holder thereof, on a one-for-one basis, subject to certain adjustments described therein, and have no expiration date.
- F4. Represents Class B ordinary shares issued by the registrant to Sponsor through a share dividend.
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FAQ
What insider transaction did Thomas D. Hennessy report for Hennessy Capital Investment Corp. VIII (HCICU)?
He reported an indirect purchase of 671,000 Class A ordinary shares at $10 per share. The shares were bought by HC VIII Sponsor LLC in a private placement, and are attributed to him through his role with the sponsor entity.
What are the private placement units mentioned in the HCICU Form 4 filing?
Each private placement unit consists of one Class A ordinary share and one right to receive one-twelfth of a Class A share. The filing notes 671,000 units purchased by HC VIII Sponsor LLC, providing both immediate shares and contingent additional stock after a business combination.
What is Thomas D. Hennessy’s relationship to Hennessy Capital Investment Corp. VIII and the sponsor entity?
He is President, a director, and a 10% owner of Hennessy Capital Investment Corp. VIII. The filing explains he is a managing member of Hennessy Capital Group LLC, which manages HC VIII Sponsor LLC, and he may be deemed a beneficial owner of securities held by the sponsor.