Sponsor reports 7.19M founder shares in MOZAYYX Acquisition Corp. (MZYX)
Rhea-AI Filing Summary
MOZAYYX Acquisition Corp. filed an initial ownership report showing that MOZAYYX Acquisition Sponsor LLC holds 7,187,500 Class B ordinary shares. These Class B shares will automatically convert into Class A ordinary shares on a one-for-one basis upon, or at the option of the holder before, the company’s initial business combination, subject to adjustments.
Up to 937,500 of these Class B shares are subject to forfeiture if the underwriters of the company’s initial public offering do not fully exercise their over-allotment option. The sponsor is the record holder of the shares, and Benjamin Zucker, the company’s CEO and CFO, may be deemed to beneficially own these securities because he has voting and investment discretion over the sponsor’s holdings, while disclaiming beneficial ownership beyond his pecuniary interest.
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Class B Ordinary Shares | -- | -- | -- |
Footnotes (3)
- F1. As described in the registration statement on Form S-1 (File No. 333-293134) of MOZAYYX Acquisition Corp. (the "Issuer") under the heading "Description of Securities--Founder Shares," the shares of Class B ordinary shares will automatically convert into shares of 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.
- F2. These shares represent the Class B ordinary shares held by MOZAYYX Acquisition Sponsor LLC (the "Sponsor") acquired pursuant to a subscription agreement by and between the Issuer and the Sponsor. The Class B ordinary shares include up to 937,500 shares that are subject to forfeiture in the event the underwriters of the Issuer's initial public offering do not exercise in full their over-allotment option as described in the Issuer's registration statement.
- F3. The Sponsor is the record holder of such shares. The managing member of the Sponsor is MOZAYYX SPAC Platform LLC ("SPAC Platform"). Mr. Benjamin Zucker is the Managing Director of SPAC Platform and is also the Chief Executive Officer and Chief Financial Officer of the Issuer. Mr. Zucker holds voting and investment discretion with respect to the ordinary shares held of record by the Sponsor. As such, Mr. Zucker may be deemed to have beneficial ownership of the securities held of record by the Sponsor. Mr. Zucker disclaims any beneficial ownership except to the extent of their pecuniary interest therein.
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