Snow Rothschild Acquisition Corp. (ISNRU) sponsor reports 5.75M Class B founder shares
Rhea-AI Filing Summary
Snow Rothschild Acquisition Corp. filed an initial insider ownership report showing that its sponsor entity holds a large founder stake. The filing reports 5,750,000 Class B ordinary shares, which are convertible into Class A ordinary shares on a one-for-one basis, either at the time of the company’s initial business combination or earlier at the holder’s option. Up to 750,000 of these founder shares are subject to forfeiture if the underwriters do not fully exercise their over-allotment option in the company’s initial public offering. The sponsor, Snow Rothschild Acquisition Sponsor LLC, holds these shares, and CEO Ian Snow, as managing member of the sponsor, may be deemed a beneficial owner but disclaims beneficial ownership beyond his pecuniary interest.
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Class B Ordinary Shares | -- | -- | -- |
Footnotes (3)
- F1. As described in the registration statement on Form S-1 (File No. 333-296154) of Snow Rothschild Acquisition Corp. (the "Issuer") 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 Issuer's initial business combination, or at any time prior to the Issuer's initial business combination, at the option of the holder, on a one-for-one basis, subject to certain adjustments. The Class B ordinary shares have no expiration date.
- F2. These shares represent the Class B ordinary shares held by Snow Rothschild Acquisition Sponsor LLC (the "Sponsor") acquired pursuant to a subscription agreement by and between the Issuer and the Sponsor. The Class B ordinary shares include up to 750,000 shares that are subject to forfeiture in the event the underwriters of the Issuer's initial public offering do not exercise in full their over-allotment option as described in the Issuer's registration statement.
- F3. Ian Snow, the Chief Executive Officer of the Issuer, is the managing member of the Sponsor and has voting and investment discretion with respect to the securities held of record by the Sponsor. As such, Mr. Snow may be deemed to have beneficial ownership of the securities held of record by the Sponsor. Mr. Snow disclaims any beneficial ownership except to the extent of his pecuniary interest therein.
Key Figures
Key Terms
initial business combination financial
over-allotment option financial
beneficial ownership financial
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