Horizon Quantum (HQ) sponsor granted 1.16M shares and 2.88M warrants
Rhea-AI Filing Summary
Horizon Quantum Holdings Ltd. reported that dMY Squared Sponsor, LLC, an entity associated with director and 10% owner Harry L. You, acquired indirect equity interests in connection with the closing of its business combination with Horizon Quantum Computing Pte. Ltd. and dMY Squared Technology Group, Inc.
The Sponsor received 1,163,484 Class A ordinary shares as a grant in exchange for 1,163,484 shares of DMY Class A common stock, and 2,884,660 warrants to purchase Class A ordinary shares at an exercise price of $11.50 per share, both at a transaction price of $0.00 per security. On the business combination effective date, DMY’s Class A common stock closed at $13.50 and its warrants at $2.69.
After these transactions, Mr. You is reported with 1,163,484 Class A ordinary shares and 2,884,660 warrants held indirectly through the Sponsor and 49,214 Class A ordinary shares held directly, while each reporting person disclaims beneficial ownership except to the extent of pecuniary interest.
Positive
- None.
Negative
- None.
Insights
Equity and warrants were granted for a SPAC business combination, not open-market buying.
The filing shows dMY Squared Sponsor, LLC, associated with Harry L. You, receiving 1,163,484 Class A ordinary shares and 2,884,660 warrants at $0.00 per security. These grants occurred as consideration in the business combination between Horizon Quantum Holdings, Horizon Quantum Computing Pte. Ltd., and dMY Squared Technology Group.
The warrants carry an exercise price of $11.50 and expire on March 19, 2031, so any future value realization depends on Horizon Quantum’s share price exceeding this level. On the effective date, DMY’s Class A stock and warrants closed at $13.50 and $2.69, respectively, highlighting the economic value exchanged at closing.
The filing also reports 49,214 Class A shares held directly by Mr. You. Because the transactions are compensation-like awards tied to the deal closing, rather than discretionary market purchases or sales, they mainly clarify post-merger ownership structure rather than signaling a change in insider sentiment.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Warrants | 2,884,660 | $0.00 | -- |
| Grant/Award | Class A Ordinary Shares | 1,163,484 | $0.00 | -- |
| holding | Class A Ordinary Shares | -- | -- | -- |
Footnotes (1)
- In connection with the closing of the business combination (the "Business Combination") among Horizon Quantum Holdings Ltd. (the "Issuer"), Horizon Quantum Computing Pte. Ltd. ("Horizon"), and dMY Squared Technology Group, Inc. ("DMY"), these Class A ordinary shares of the Issuer were issued pursuant to the terms of the Business Combination Agreement, dated as of September 9, 2025, by and among the Issuer, Horizon, and DMY (the "Business Combination Agreement") upon the exchange of 1,163,484 shares of Class A common stock of DMY. On the effective date of the Business Combination, the closing price of DMY's Class A common stock was $13.50. In connection with the closing of the Business Combination, these warrants of the Issuer were issued pursuant to the terms of the Business Combination Agreement upon the exchange of 2,884,660 warrants of DMY. On the effective date of the Business Combination, the closing price of DMY's warrants was $2.69. dMY Squared Sponsor, LLC (the "Sponsor") Sponsor is the record holder of the securities reported herein. Harry L. You is the managing member of the Sponsor and has voting and investment discretion with respect to the securities held of record by the Sponsor. Each of the Sponsor and Mr. You is a "Reporting Person" and may be deemed to beneficially own the securities reported herein; however, each Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Person's pecuniary interest therein. Solely for purposes of Section 16 of the Exchange Act, each Reporting Person may be deemed a "director by deputization".
