Snow Rothschild sponsor surrenders 100K shares
Rhea-AI Filing Summary
Snow Rothschild Acquisition Corp. reported that its sponsor, SNOW ROTHSCHILD ACQUISITION SPONSOR LLC, surrendered 100,000 Class B Ordinary Shares to the company for no consideration, following the underwriters' partial exercise of the over-allotment option related to the IPO.
After this disposition, the sponsor holds 5,650,000 Class B Ordinary Shares, which automatically convert into Class A Ordinary Shares on a one-for-one basis at or before the initial business combination. CEO Ian Snow, as managing member of the sponsor, may be deemed a beneficial owner but disclaims ownership beyond his pecuniary interest.
Positive
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Negative
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Class B Ordinary Shares F1, F2, F3 | 100,000 | -- | -- |
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. No consideration is payable upon conversion.
- F2. As contemplated in connection with the initial public offering of the Issuer, as a result of the underwriters' partial exercise of the over-allotment option, 100,000 Class B Ordinary Shares were surrendered by Snow Rothschild Acquisition Sponsor LLC (the "Sponsor") to the Issuer for no consideration.
- F3. Ian Snow, the Chief Executive Officer and a director 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, each of the Sponsor and 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
over-allotment option financial
beneficial ownership financial
pecuniary interest financial
FAQ
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What transaction did Snow Rothschild Acquisition Corp. report in the latest Form 4 for ISNRU?
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