HCICU Form 4 reports purchase transactions
HC VIII Sponsor LLC reported open-market purchase transactions in a Form 4 filing for HCICU.
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Rhea-AI Filing Summary
HC VIII Sponsor LLC reported open-market purchase transactions in a Form 4 filing for HCICU. The filing lists transactions totaling 2,453,086 shares at a weighted average price of $10.00 per share. Following the reported transactions, holdings were 9,512,515 shares.
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 |
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. Each of Mr. Daniel Hennessy and 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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