Baystar details PECE holdings as CEO Zheng controls 10% stake
Rhea-AI Filing Summary
Peace Acquisition Corp. insider Baystar Holding Group Limited has filed an initial Form 3 showing a significant indirect stake. Baystar reports beneficial ownership of 1,743,500 ordinary shares and derivative positions in warrants and rights linked to additional ordinary shares.
The filing notes that Baystar has irrevocably agreed to purchase IPO units containing shares, warrants and rights, with 201,000 shares subject to forfeiture if underwriters do not exercise their over-allotment option and a further 17,357 shares only issuable if the over-allotment is fully exercised. CEO Fangping Zheng, a director and ten percent owner, is disclosed as the sole director and shareholder of Baystar.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Baystar Holding Group Ltd, Zheng Fangping
Role
10% Owner | CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Rights | -- | -- | -- |
| holding | Warrants | -- | -- | -- |
| holding | Ordinary Shares | -- | -- | -- |
Holdings After Transaction:
Rights — 40,500 shares (Indirect, By Baystar Holding Group Limited);
Warrants — 202,500 shares (Indirect, By Baystar Holding Group Limited);
Ordinary Shares — 1,743,500 shares (Indirect, By Baystar Holding Group Limited)
Footnotes (6)
- F1. Includes (i) 202,500 shares contained within units that Baystar Holding Group Limited has irrevocably agreed to purchase at the closing of the Issuer's initial public offering (the "IPO") and (ii) 201,000 shares subject to forfeiture in the event the underwriters of the IPO do not exercise their overallotment option. Does not include an additional 17,357 shares contained within units that Baystar Holding Group Limited has irrevocably agreed to purchase in connection with the IPO if and only if the underwriters of the IPO fully exercise their over-allotment option.
- F2. Fangping Zheng is the sole director and shareholder of Baystar Holding Group Limited
- F3. Represents 202,500 rights contained within units that Baystar Holding Group Limited has irrevocably agreed to purchase at the closing of the IPO. Does not include an additional 17,357 rights contained within units that Baystar Holding Group Limited has irrevocably agreed to purchase in connection with the IPO if and only if the underwriters of the IPO fully exercise their over-allotment option. Each right will convert automatically into 1/5 of one ordinary share at the closing of an initial business combination by the Issuer. The rights do not have an expiration date.
- F4. Each warrant will become exercisable at the later of 12 months from the closing of the IPO and 30 days after the completion of the Issuer's initial business combination.
- F5. Each warrant will expire five years after the completion of the Issuer's initial business combination or earlier upon redemption or the Issuer's liquidation.
- F6. Does not include up to an additional 17,357 ordinary shares underlying warrants contained within units that the reporting person has irrevocably agreed to purchase in connection with the IPO if and only if the underwriters of the IPO fully exercise their over-allotment option.
Key Figures
Indirect ordinary share holdings: 1,743,500 ordinary shares
Shares subject to forfeiture: 201,000 shares
Additional over-allotment shares: 17,357 shares
+2 more
5 metrics
Indirect ordinary share holdings
1,743,500 ordinary shares
Beneficially owned indirectly by Baystar Holding Group Limited
Shares subject to forfeiture
201,000 shares
Forfeitable if IPO underwriters do not exercise over-allotment option
Additional over-allotment shares
17,357 shares
Purchasable only if IPO over-allotment is fully exercised
Warrant exercise price
$11.50 per share
Exercise price for warrants linked to ordinary shares
Right conversion ratio
1/5 ordinary share per right
Automatic conversion at closing of initial business combination
Key Terms
over-allotment option, initial public offering, initial business combination, rights, +1 more
5 terms
over-allotment option financial
"if and only if the underwriters of the IPO fully exercise their over-allotment option"
An over-allotment option is a special agreement that allows underwriters to sell more shares than initially planned if demand is high. Think of it like a retailer offering extra units of a popular product to meet additional customer interest. This option helps ensure the full sale is completed and can also give investors extra shares if they want more.
initial public offering financial
"units that Baystar Holding Group Limited has irrevocably agreed to purchase at the closing of the Issuer's initial public offering"
An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.
initial business combination financial
"at the closing of an initial business combination by the Issuer"
An initial business combination is the deal in which a special-purpose acquisition company (SPAC) merges with or acquires an operating business to bring that business onto public markets. Think of the SPAC as an empty shell that raises money from investors, then uses that cash to buy a private company—this transaction turns the private company into a public one and often changes its ownership, valuation, and access to capital, so investors should watch for shifts in risk, future growth prospects, and shareholder rights.
rights financial
"Represents 202,500 rights contained within units that Baystar Holding Group Limited has irrevocably agreed to purchase"
Rights are special privileges that give existing shareholders the opportunity to buy additional shares of a company's stock before they are offered to the public. They help investors maintain their ownership percentage and can be seen as a way to protect their investment stake. Think of rights like a VIP pass allowing current investors to purchase new shares first, ensuring they can preserve their influence in the company.
warrants financial
"Does not include up to an additional 17,357 ordinary shares underlying warrants contained within units"
Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider holdings does Baystar report in Peace Acquisition Corp. (PECE)?
Baystar Holding Group Limited reports indirect beneficial ownership of 1,743,500 ordinary shares of Peace Acquisition Corp. It also holds warrants and rights linked to additional ordinary shares through IPO units it has irrevocably agreed to purchase at the IPO closing.
What warrant terms does Baystar disclose for Peace Acquisition Corp. (PECE)?
Baystar holds warrants with an exercise price of $11.50 per ordinary share. Each warrant becomes exercisable after the later of 12 months from the IPO closing and 30 days after Peace Acquisition Corp. completes its initial business combination, and expires five years after that combination.
How are the rights held by Baystar in Peace Acquisition Corp. (PECE) structured?
The filing explains that each right will automatically convert into 1/5 of one ordinary share at the closing of Peace Acquisition Corp.’s initial business combination. The rights are contained in IPO units Baystar agreed to purchase and do not have an expiration date.
What is CEO Fangping Zheng’s relationship to Baystar and Peace Acquisition Corp. (PECE)?
Fangping Zheng is Peace Acquisition Corp.’s CEO and a director, and is also disclosed as the sole director and shareholder of Baystar Holding Group Limited. Both Baystar and Zheng are identified as ten percent owners of Peace Acquisition Corp. in this Form 3.