JAB Acquisition Corp I (JABRU) Form 3 details sponsor-linked founder shares
Rhea-AI Filing Summary
JAB Acquisition Corp I director and officer Jack Bressman reported his initial beneficial ownership on Form 3. The filing shows indirect ownership of 657,221 Class B ordinary shares through JAB Acquisition Sponsor I, LLC.
These Class B ordinary shares automatically convert into Class A ordinary shares on a one-for-one basis concurrently with or immediately following the company’s initial business combination, subject to adjustments and anti-dilution rights. The reported holdings exclude 86.66 private placement shares and warrants and 22 private right shares that are expected to be issued in a private placement.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Bressman Jack
Role
CFO, COO and Secretary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Class B ordinary shares | -- | -- | -- |
Holdings After Transaction:
Class B ordinary shares — 657,221 shares (Indirect, Indirect ownership through membership in JAB Acquisition Sponsor I, LLC)
Footnotes (3)
- F1. As described in the Issuer's registration statement on Form S-1 (File No. 333-296035) (the "Registration Statement") under the heading "Description of Securities--Founder Shares", the Class B ordinary shares, par value $0.0001 per share, will automatically convert into Class A ordinary shares, par value $0.0001 per share, of the issuer concurrently with or immediately following the Issuer's initial business combination, on a one-for-one basis, subject to adjustment for share splits, share capitalizations, reorganizations, recapitalizations and the like, and certain anti-dilution rights. Class B ordinary share have no expiration date.
- F2. The Reporting Person is a member of JAB Acquisition Sponsor I, LLC, the sponsor of the Issuer, as described in the Registration Statement under the heading "Summary - Sponsor Information."
- F3. This number does not include 86.66 private placement shares and warrants and 22 private right shares to be issued to the Reporting Person upon completion of the private placement, as described in the Registration Statement under the heading "Description of Securities - Private Units."
Key Figures
Indirect Class B holdings: 657,221 Class B ordinary shares
Underlying Class A shares: 657,221 Class A Ordinary Shares
Exercise/conversion price: $0.0000 per share
+2 more
5 metrics
Indirect Class B holdings
657,221 Class B ordinary shares
Total shares following report, held via sponsor LLC
Underlying Class A shares
657,221 Class A Ordinary Shares
Underlying shares for Class B conversion, one-for-one basis
Exercise/conversion price
$0.0000 per share
Stated exercise price for Class B ordinary shares
Private placement units excluded
86.66 private placement shares and warrants
To be issued upon completion of private placement, not in main count
Private right shares excluded
22 private right shares
Additional securities to be issued after private placement
Key Terms
Class B ordinary shares, Class A ordinary shares, initial business combination, anti-dilution rights, +2 more
6 terms
initial business combination financial
"will automatically convert ... concurrently with or immediately following the Issuer's initial business combination"
An initial business combination is the deal in which a special-purpose acquisition company (SPAC) merges with or acquires an operating business to bring that business onto public markets. Think of the SPAC as an empty shell that raises money from investors, then uses that cash to buy a private company—this transaction turns the private company into a public one and often changes its ownership, valuation, and access to capital, so investors should watch for shifts in risk, future growth prospects, and shareholder rights.
anti-dilution rights financial
"subject to adjustment for share splits ... and certain anti-dilution rights"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What does Jack Bressman report on his JAB Acquisition Corp I Form 3?
Jack Bressman reports indirect beneficial ownership of 657,221 Class B ordinary shares of JAB Acquisition Corp I through JAB Acquisition Sponsor I, LLC. These shares are founder shares that will automatically convert into Class A ordinary shares around the initial business combination.
Is Jack Bressman’s ownership in JAB Acquisition Corp I direct or indirect?
His reported ownership is indirect, held through JAB Acquisition Sponsor I, LLC, the company’s sponsor. The Form 3 notes this membership interest as the basis for his beneficial ownership of the 657,221 Class B ordinary shares reported.
Does the JAB Acquisition Corp I Form 3 include private placement units for Jack Bressman?
The Form 3 explicitly says the reported number does not include 86.66 private placement shares and warrants and 22 private right shares. These securities are expected to be issued to him upon completion of the private placement described in the registration statement.