NWAX director tied to sponsor sale of 50,000 founder shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
New America Sponsor I LLC, an entity associated with director Luisa Ingargiola of New America Acquisition I Corp., sold 50,000 shares of Class B common stock in an open-market transaction. Ingargiola’s interest is indirect through the sponsor; she has no voting or dispositive control and disclaims beneficial ownership beyond her pecuniary interest. The Class B founder shares automatically convert into Class A common stock at the initial business combination on a one-for-one basis, subject to adjustments.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Net Sell
1 txn
Insider
Ingargiola Luisa
Role
Director
Sold
50,000 shs ($0.00)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class B Common Stock | 50,000 | $0.00 | -- |
Holdings After Transaction:
Class B Common Stock — 50,000 shares (Indirect, See Footnote)
Footnotes (1)
- As described in the issuer's registration statement on Form S-1 (File No. 333-289204) under the heading "Description of Securities - Founder Shares," shares of Class B common stock, par value $0.0001 per share (the "Founder Shares"), of the issuer will automatically convert into shares of Class A common stock, 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 certain adjustments, and have no expiration date. Ms. Ingargiola received for her services as a director of the issuer an indirect interest in the Founder Shares through membership interests in New America Sponsor I LLC (the "Sponsor"). Ms. Ingargiola may be deemed to beneficially own 50,000 shares held by the Sponsor by virtue of her membership interest therein. Ms. Ingargiola does not have voting or dispositive control over the Sponsor and disclaims beneficial ownership except to the extent of her pecuniary interest.
FAQ
What insider transaction did NWAX disclose in this Form 4?
New America Acquisition I Corp. disclosed that New America Sponsor I LLC, an entity associated with director Luisa Ingargiola, sold 50,000 shares of Class B common stock in an open-market transaction, reflecting a net sell of 50,000 shares in this filing.