Jones Ventures Acquisition1 (JONEU) sponsor holds 7,666,667 Class B shares
Rhea-AI Filing Summary
Jones Ventures INTL Acquisition1 Sponsor LLC reported holding 7,666,667 Class B ordinary shares of Jones Ventures INTL Acquisition1 Corp. These Class B shares automatically convert into Class A ordinary shares on a one-for-one basis at the time of the initial business combination and have no expiration date.
The shares are held directly by the sponsor, for which JonesTrading Institutional Services LLC has voting and investment discretion. The position includes 1,000,000 shares subject to forfeiture if underwriters do not fully exercise their over-allotment option in connection with the initial public offering.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Jones Ventures INTL Acquisition1 Sponsor LLC
Role
10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Class B Ordinary Shares F1, F2 | -- | -- | -- |
Holdings After Transaction:
Class B Ordinary Shares — 7,666,667 shares (Direct)
Footnotes (2)
- F1. The Class B ordinary shares are automatically convertible into the shares of the Issuer's Class A ordinary shares at the time of the Issuer's initial business combination on a one-for-one basis, subject to adjustment pursuant to certain anti-dilution rights, and have no expiration date.
- F2. These shares of Class B common stock are held directly by Jones Ventures INTL Acquisition1 Sponsor LLC (the "Sponsor"), acquired pursuant to a subscription agreement dated as of June 17, 2021, by and among the Sponsor and the registrant. JonesTrading Institutional Services LLC ("Jones") is the sole managing member of the Sponsor and holds voting and investment discretion with respect to the ordinary shares held of record by the Sponsor. Jones disclaims any beneficial ownership of the securities held by the sponsor other than to the extent of any pecuniary interest he may have therein, directly or indirectly. These shares include an aggregate of 1,000,000 shares that are subject to forfeiture to the extent that the underwriters do not exercise their over-allotment option in connection with the registrant's initial public offering in full.
Key Figures
Class B ordinary shares held: 7,666,667 shares
Underlying Class A ordinary shares: 7,666,667 shares
Shares subject to forfeiture: 1,000,000 shares
3 metrics
Class B ordinary shares held
7,666,667 shares
Direct holdings reported by sponsor after the holding entry
Underlying Class A ordinary shares
7,666,667 shares
Shares issuable upon automatic one-for-one conversion at initial business combination
Shares subject to forfeiture
1,000,000 shares
Forfeitable if IPO underwriters do not fully exercise over-allotment option
Key Terms
Class B Ordinary Shares, anti-dilution rights, over-allotment option, beneficial ownership
4 terms
anti-dilution rights financial
"subject to adjustment pursuant to certain anti-dilution rights"
over-allotment option financial
"subject to forfeiture to the extent that the underwriters do not exercise their over-allotment option"
An over-allotment option is a special agreement that allows underwriters to sell more shares than initially planned if demand is high. Think of it like a retailer offering extra units of a popular product to meet additional customer interest. This option helps ensure the full sale is completed and can also give investors extra shares if they want more.
beneficial ownership financial
"disclaims any beneficial ownership of the securities held by the sponsor"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What type of security is reported in the JONEU Form 3 filing?
The security reported is Class B ordinary shares, which are automatically convertible into Class A ordinary shares on a one-for-one basis at the time of the company’s initial business combination, subject to anti-dilution adjustments and with no expiration date.
Does the JONEU Form 3 reflect a transaction or just existing holdings?
The Form 3 reflects existing holdings of Class B ordinary shares by the sponsor rather than a new purchase or sale. The entry is categorized as a holding, with 7,666,667 shares shown as owned following the reported position.