HCIC insider tied to 671,000-share Class A purchase
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.
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
| 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 | -- | -- | -- |
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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