RRE Ventures Acquisition (RREVU) CEO reports 525,000 Class B shares
Filing Impact
Filing Sentiment
Form Type
3
Rhea-AI Filing Summary
RRE Ventures Acquisition Corp. director and Chief Executive Officer Philip Kassin reported his initial ownership on a Form 3. He holds 525,000 Class B Ordinary Shares, which are structured to automatically convert into Class A Ordinary Shares on a one-for-one basis in connection with the company’s initial business combination or earlier at his option.
The footnote explains these Class B shares have no expiration date and will convert into an equal number of Class A shares, subject to adjustment. The filing does not report any new purchases or sales, but establishes Kassin’s starting equity position in the sponsor shares of the acquisition vehicle.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Kassin Philip (Phil)
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Class B Ordinary Shares | -- | -- | -- |
Holdings After Transaction:
Class B Ordinary Shares — 525,000 shares (Direct)
Footnotes (1)
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Key Figures
Directly held Class B Ordinary Shares: 525,000 shares
Underlying Class A Ordinary Shares on conversion: 525,000 shares
Conversion or exercise price: $0.0000 per share
3 metrics
Directly held Class B Ordinary Shares
525,000 shares
Total shares following reported holding entry
Underlying Class A Ordinary Shares on conversion
525,000 shares
One-for-one conversion from Class B to Class A
Conversion or exercise price
$0.0000 per share
Class B converting into Class A Ordinary Shares
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 into Class A Ordinary Shares 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, subject to adjustment, and have no expiration date."
FAQ
What does Philip Kassin’s Form 3 filing for RREVU show?
The Form 3 shows Philip Kassin’s initial ownership as CEO and director of RRE Ventures Acquisition Corp., reporting 525,000 Class B Ordinary Shares that convert into Class A shares. This establishes his starting equity stake but does not reflect any recent buy or sell transaction.
Does the RREVU Form 3 filing report any recent insider buying or selling by Philip Kassin?
The Form 3 does not report any recent insider buying or selling by Philip Kassin. It functions as an initial statement of beneficial ownership, listing his 525,000 Class B Ordinary Shares and their conversion terms, rather than documenting an open-market or other transactional event.