Kensington Capital VI (KCAC) director reports 9,857,142 founder shares
Rhea-AI Filing Summary
Kensington Capital Acquisition Corp. VI director and officer Justin E. Mirro filed an initial statement of beneficial ownership. The filing reports indirect ownership of 9,857,142 Class B ordinary shares held by Kensington Capital VI LLC, the sponsor entity.
These Class B founder shares automatically convert into Class A ordinary shares on a one-for-one basis at the time of the company’s initial business combination, or earlier at the holder’s option, and have no expiration date. Mirro may be deemed to share beneficial ownership through his role with the sponsor but disclaims ownership beyond any pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
MIRRO JUSTIN E
Role
See Remarks
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Class B Ordinary Shares | -- | -- | -- |
Holdings After Transaction:
Class B Ordinary Shares — 9,857,142 shares (Indirect, See Footnote)
Footnotes (1)
- As described in the issuer's registration statement on Form S-1 (File No. 333-293233) under the heading "Description of Securities-Founder Shares", the issuer's 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 at the time of the issuer's initial business combination, or earlier at the option of the holder, on a one-for-one basis, subject to adjustment for share sub-divisions, share capitalizations, reorganizations, recapitalizations and the like, and certain anti-dilution rights and have no expiration date. These shares represent Class B ordinary shares held by Kensington Capital VI LLC (the "Sponsor") that were acquired pursuant to a subscription agreement by and between the Sponsor and the issuer. As the managing member of the managing member of the Sponsor, the reporting person may be deemed to have beneficial ownership of the Class B ordinary shares held directly by the Sponsor and disclaims any beneficial ownership of the reported shares other than to the extent of any pecuniary interest he may have therein, directly or indirectly.
Key Figures
Indirect Class B shares: 9,857,142 shares
Conversion ratio: 1:1
Par value: $0.0001 per share
+1 more
4 metrics
Indirect Class B shares
9,857,142 shares
Class B ordinary shares held by sponsor, indirectly attributed
Conversion ratio
1:1
Class B ordinary shares to Class A ordinary shares at business combination
Par value
$0.0001 per share
Par value for both Class B and Class A ordinary shares
Exercise price
$0.0000
Conversion/exercise price shown for Class B into Class A
Key Terms
Class B Ordinary Shares, initial business combination, anti-dilution rights, beneficial ownership, +1 more
5 terms
initial business combination financial
"will automatically convert into Class A ordinary shares at the time of 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 sub-divisions ... and certain anti-dilution rights"
beneficial ownership financial
"the reporting person may be deemed to have beneficial ownership of the Class B ordinary shares"
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.
pecuniary interest financial
"disclaims any beneficial ownership of the reported shares other than to the extent of any pecuniary interest"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What does Justin E. Mirro report owning in Kensington Capital Acquisition Corp. VI (KCAC)?
He reports indirect beneficial ownership of 9,857,142 Class B ordinary shares through Kensington Capital VI LLC, the sponsor. These founder shares are separate from public Class A shares and are linked to the company’s future business combination.
Is this KCAC filing reporting a new insider purchase or sale?
No transaction is reported. This Form 3 filing establishes Justin E. Mirro’s initial beneficial ownership position in sponsor-held Class B shares. It does not disclose any contemporaneous open-market purchases or sales.