CH4 Natural Solutions (MTNE) sponsor discloses 7.67M Class B shares with forfeiture risk
Rhea-AI Filing Summary
CH4 Natural Solutions Corp insider entities filed an initial Form 3 showing indirect holdings of 7,666,667 Class B ordinary shares of MTNE through CH4 Natural Solutions Acquisition Sponsor LLC. These Class B shares automatically convert 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. The position includes 1,000,000 Class B shares that may be forfeited if the underwriters in the initial public offering do not fully exercise their over-allotment option. The filing attributes record ownership to the sponsor LLC and explains an ownership chain through several LLCs and Riverstone Earth LLC to David M. Leuschen, who, along with the related entities, disclaims beneficial ownership beyond any pecuniary interest.
Positive
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Class B Ordinary Shares, par value $0.0001 per share | -- | -- | -- |
Footnotes (1)
- The Class B Ordinary Shares are automatically convertible into the Issuer's Class A Ordinary Shares at the time of the Issuer's initial business combination (with such conversion taking place immediately prior to, simultaneously with, or immediately following the time of the Issuer's initial business combination, as may be determined by the Issuer's directors) on a one-for-one basis, subject to adjustment pursuant to certain anti-dilution rights, and have no expiration date. Includes 1,000,000 Class B Ordinary Shares that are subject to forfeiture if the underwriters in the Issuer's initial public offering do not exercise their over-allotment option in full. CH4 Natural Solutions Acquisition Sponsor LLC is the record holder of the shares reported herein. David M. Leuschen is the sole and managing member of Riverstone Earth LLC, which is the sole and managing member of CH4 Natural Solutions Acquisition Sponsor Manager, LLC. CH4 Natural Solutions Acquisition Sponsor Manager, LLC is the managing member of CH4 Natural Solutions Acquisition Sponsor Holdings, LLC. CH4 Natural Solutions Acquisition Sponsor Holdings, LLC is the sole and managing member of CH4 Natural Solutions Acquisition Sponsor LLC. Each of CH4 Natural Solutions Acquisition Sponsor Holdings, LLC, CH4 Natural Solutions Acquisition Sponsor Manager, LLC, Riverstone Earth LLC and Mr. Leuschen may be deemed to have or share beneficial ownership of the ordinary shares held directly by CH4 Natural Solutions Acquisition Sponsor LLC. Each such entity or person disclaims any such beneficial ownership of such securities except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.