Wealth Path backs Newbridge (NBRGU) with 186,250 private units
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Newbridge Acquisition Ltd’s sponsor, Wealth Path Holdings Limited, purchased 186,250 private units, giving CEO Yongsheng Liu indirect beneficial ownership through the sponsor. Each private unit includes one Class A ordinary share and one right, and was bought at $10 per unit for a total of $1,862,500.
Each right automatically converts into one-eighth of one Class A ordinary share upon completion of Newbridge’s initial business combination, corresponding to 23,281 underlying Class A ordinary shares. Liu, a director, chief executive officer, and 10% owner, may be deemed a beneficial owner but disclaims ownership beyond his pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Net Buy
2 txns
Insider
Liu Yongsheng
Role
Chief Executive Officer
Bought
372,500 shs ($0.00)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Rights to receive Class A ordinary shares | 186,250 | $0.00 | -- |
| Purchase | Class A Ordinary Shares, no par value | 186,250 | $0.00 | -- |
Holdings After Transaction:
Rights to receive Class A ordinary shares — 186,250 shares (Indirect, Seefootnote);
Class A Ordinary Shares, no par value — 186,250 shares (Indirect, Seefootnote)
Footnotes (1)
- Reflects the 186,250 private units owned by Wealth Path Holdings Limited, the Issuer's sponsor. Each private unit consists of one Class A ordinary share and one right. The private units were purchased at $10 per unit for an aggregate purchase price of $1,862,500. Messrs. Yongsheng Liu and Jining Li jointly have voting and investment discretion with respect to the securities held of record by the sponsor. As such, Messrs. Jining Li and Yongsheng Liu may be deemed to have beneficial ownership of the securities held of record by the sponsor. Mr. Liu disclaims any beneficial ownership of the securities held by Wealth Path Holdings Limited, except to the extent of his pecuniary interest therein. Each right converts automatically into one-eighth of one Class A ordinary share upon the consummation of an initial business combination of the Issuer.
FAQ
What did Wealth Path Holdings Limited buy in Newbridge Acquisition (NBRGU)?
Wealth Path Holdings Limited bought 186,250 private units of Newbridge Acquisition. Each unit consists of one Class A ordinary share and one right, providing exposure to additional shares upon Newbridge completing its initial business combination.
How much did Wealth Path pay for the Newbridge private units?
Wealth Path paid $10 per private unit, for an aggregate purchase price of $1,862,500. This investment consists of 186,250 units, each containing one Class A ordinary share and one right linked to future share issuance.
What is Yongsheng Liu’s relationship to the Newbridge sponsor’s holdings?
Yongsheng Liu and Jining Li jointly have voting and investment discretion over securities held by Wealth Path, Newbridge’s sponsor. They may be deemed beneficial owners, but Liu expressly disclaims beneficial ownership beyond his pecuniary interest in Wealth Path’s holdings.
Is Yongsheng Liu a major insider at Newbridge Acquisition (NBRGU)?
Yes. The Form 4 identifies Yongsheng Liu as a director, chief executive officer, and 10% owner of Newbridge Acquisition. His reported beneficial interest is indirect, through the sponsor Wealth Path Holdings Limited, which owns the 186,250 private units.