Eagle Equity (NASDAQ: IEAGU) reports 8,625,000 Class B share stake
Rhea-AI Filing Summary
Eagle Equity Partners VI, LLC has filed an initial ownership report showing it beneficially owns 8,625,000 Class B ordinary shares of Infinite Eagle Acquisition Corp. These Class B shares are convertible into the company’s Class A ordinary shares as described in its Form S-1 and have no expiration date.
The holding includes up to 1,125,000 Class B ordinary shares that may be forfeited back to the company depending on whether underwriters exercise their over-allotment option in the initial public offering. Eagle Equity Partners VI, LLC is identified as a director by deputization and a more than 10% owner of Infinite Eagle Acquisition Corp., and it is the record holder of the reported securities.
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FAQ
What insider position does Eagle Equity Partners VI, LLC hold in Infinite Eagle Acquisition Corp. (IEAGU)?
Eagle Equity Partners VI, LLC reported beneficial ownership of 8,625,000 Class B ordinary shares of Infinite Eagle Acquisition Corp., making it a director by deputization and a more than 10% owner.
What type of shares does Eagle Equity Partners VI, LLC own in IEAGU?
The reporting entity owns Class B ordinary shares, which are convertible into Class A ordinary shares of Infinite Eagle Acquisition Corp. as described in the company’s Form S-1 registration statement.
Are any of Eagle Equity Partners VI, LLC’s IEAGU shares subject to forfeiture?
Yes. The reported holdings include up to 1,125,000 Class B ordinary shares that are subject to forfeiture to Infinite Eagle Acquisition Corp. depending on how the underwriters’ over-allotment option is exercised in the initial public offering.
Do the Class B ordinary shares held by Eagle Equity Partners VI, LLC in IEAGU have an expiration date?
No. The filing states that the Class B ordinary shares have no expiration date, even though they are convertible into Class A ordinary shares under the terms described in the registration statement.
Who is the record holder of the reported Infinite Eagle Acquisition Corp. (IEAGU) securities?
Eagle Equity Partners VI, LLC is the record holder of the securities reported. The filing explains that its individual managing members are not deemed to have or share beneficial ownership of these securities.
What roles are disclosed for Eagle Equity Partners VI, LLC in relation to Infinite Eagle Acquisition Corp. (IEAGU)?
The filing identifies Eagle Equity Partners VI, LLC as a director (by deputization), a more than 10% owner, and a reporting person for its holdings of Class B ordinary shares in Infinite Eagle Acquisition Corp.