Harraden Circle Exits Quartzsea Class A Ownership; Holdings Reported at 0%
Rhea-AI Filing Summary
Quartzsea Acquisition Corp is the subject of an amended Schedule 13G filed by a group of Harraden-related entities and an individual. The amendment states that the Reporting Persons no longer hold any beneficial ownership of the issuer's Class A common stock and that their aggregate reported ownership is 0 shares, representing 0% of the class. This amendment is described in the filing as an exit filing, reporting that the Reporting Persons have ceased to be beneficial owners of more than five percent of the outstanding Class A common stock.
The filing lists the reporting group members and explains their relationships: three investment funds directly held the shares reported, with a GP and adviser structure and an individual (the managing member) who may be deemed to indirectly own those shares by virtue of control positions. The filing reports no sole or shared voting or dispositive power across the listed entities.
Positive
- Aggregate beneficial ownership reported as 0 shares, representing 0% of the Class A common stock
- Amendment explicitly designated as an exit filing, clarifying the Reporting Persons have ceased to be >5% holders
Negative
- Reporting Persons previously held more than 5% of Class A common stock but no longer report any beneficial ownership
- No sole or shared voting or dispositive power is reported across the listed Harraden entities and the individual, indicating full divestment
Insights
TL;DR: Harraden-related entities report 0 shares (0%) of Quartzsea Class A stock in an exit amendment.
The amendment discloses that the listed Harraden funds and affiliated entities now report no beneficial ownership of the issuer's Class A common stock. The schedules show zero sole and shared voting and dispositive power across the reporting persons, and the filer explicitly characterizes the amendment as an exit filing after previously exceeding a five percent ownership threshold. For investors and compliance teams, this is a clear, formal removal of a previously reported large holder from beneficial-ownership tables; the filing contains factual ownership levels and organizational relationships but does not include transaction details or reasons for the change.
TL;DR: The Harraden group formally disclaims any current beneficial interest in Quartzsea Class A shares, eliminating reported control indicators.
From a governance perspective, the report establishes that neither the investment funds nor their GP, adviser, or managing member currently hold voting or dispositive power over Class A shares. The filing enumerates the entities in the reporting group and their roles (funds, GP, LLC, adviser, managing member), which documents the chain of possible indirect ownership but confirms no remaining beneficial ownership. The document is procedural and descriptive; it does not provide transactional specifics or implications beyond the ownership cessation.