Rainier director reports 25K convertible shares
Rainier Acquisition Corp (RNAQU) reported that director Isaac Manke holds 25,000 Class B ordinary shares directly.
Rhea-AI Filing Summary
Rainier Acquisition Corp (RNAQU) reported that director Isaac Manke holds 25,000 Class B ordinary shares directly. Each Class B ordinary share is convertible into one Class A ordinary share, for an underlying 25,000 Class A ordinary shares. The Class B ordinary shares have no expiration date and will automatically convert at the time of the company’s initial business combination or earlier at the holder’s option.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Manke Isaac
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Class B ordinary shares F1 | -- | -- | -- |
Holdings After Transaction:
Class B ordinary shares — 25,000 contracts (Direct)
Footnotes (1)
- F1. Each Class B ordinary share is convertible into one Class A ordinary share at the option of the holder, and will automatically convert at the time of the Issuer's initial business combination or earlier at the option of the holder, on a one-for-one basis. The Class B ordinary shares have no expiration date.
Key Figures
Class B ordinary shares held: 25,000 shares
Underlying Class A ordinary shares: 25,000 shares
Conversion ratio: 1 Class A ordinary share for each 1 Class B ordinary share
3 metrics
Class B ordinary shares held
25,000 shares
Direct holdings by director Isaac Manke as of August 26, 2026
Underlying Class A ordinary shares
25,000 shares
Shares issuable upon one-for-one conversion of Class B ordinary shares
Conversion ratio
1 Class A ordinary share for each 1 Class B ordinary share
Conversion terms for Class B ordinary shares held by Isaac Manke
Key Terms
Class B ordinary shares, Class A ordinary shares, initial business combination, one-for-one basis
4 terms
initial business combination financial
"will automatically convert at the time of the Issuer's initial business combination"
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.
one-for-one basis financial
"on a one-for-one basis. The Class B ordinary shares have no expiration date"
FAQ
What did director Isaac Manke report in this Form 3 for RNAQU?
Director Isaac Manke reported beneficial ownership of 25,000 Class B ordinary shares of Rainier Acquisition Corp, held directly, as of August 26, 2026.
Does this RNAQU Form 3 indicate trades or a Rule 10b5-1 trading plan for Isaac Manke?
No trades are reported. The Form 3 reflects a holding of 25,000 Class B ordinary shares. No Rule 10b5-1 trading plan is reported in connection with this holding.
AI-generated analysis. How Rhea-AI works. Not financial advice.