1.33M founder shares tied to Newbridge (NBRGU) CEO Liu
Filing Impact
Filing Sentiment
Form Type
3
Rhea-AI Filing Summary
Newbridge Acquisition Ltd Chief Executive Officer, director and 10% owner Yongsheng Liu filed an initial statement of beneficial ownership. The filing shows indirect beneficial ownership of 1,327,500 Class B ordinary shares, held through Index Capital Management Limited and Wealth Path Holdings Limited.
The Class B ordinary shares are described as founder shares that automatically convert into Class A ordinary shares on a one-for-one basis at the time of Newbridge’s initial business combination, or earlier at the holder’s option, subject to adjustments. Mr. Liu may be deemed a beneficial owner but disclaims ownership beyond his pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Liu Yongsheng
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Class B ordinary shares | -- | -- | -- |
Holdings After Transaction:
Class B ordinary shares — 1,327,500 shares (Indirect, See Footnote)
Footnotes (1)
- As described in the registration statement on Form S-1 (File No. 333-289966) of Newbridge Acquisition Limited (the "Issuer") under the heading "Description of Securities--Founder Shares," Class B ordinary shares will automatically convert into 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. Consists of 288,750 Class B ordinary shares held by Index Capital Management Limited, which is owned and controlled by Yongsheng Liu, and 1,038,750 Class B ordinary shares held by Wealth Path Holdings Limited (the "Sponsor"), over which Yongsheng Liu and Jining Li jointly have voting and investment discretion. As such, Yongsheng Liu and Jining Li may be deemed to have beneficial ownership of the securities held of record by the Sponsor. Mr. Yongsheng Liu disclaims any beneficial ownership except to the extent of his pecuniary interest therein.
FAQ
What does the Form 3 filing show for Newbridge Acquisition (NBRGU)?
The Form 3 shows Newbridge Acquisition’s CEO and director Yongsheng Liu with indirect beneficial ownership of 1,327,500 Class B ordinary shares. These shares are held through Index Capital Management Limited and Wealth Path Holdings Limited and may convert into Class A ordinary shares upon the company’s initial business combination.
Does Yongsheng Liu fully accept beneficial ownership of Newbridge Acquisition (NBRGU) sponsor shares?
The filing explains that Yongsheng Liu and Jining Li may be deemed beneficial owners of the securities held by the sponsor. However, Mr. Liu expressly disclaims beneficial ownership of those securities except to the extent of his pecuniary interest in them, limiting his acknowledged economic claim.