SPACCircle sponsor holds 5.75M Class B shares
SPACCircle Acquisition Corp. reports that SPACCircle Sponsor LLC directly holds 5,750,000 Class B ordinary shares.
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Rhea-AI Filing Summary
SPACCircle Acquisition Corp. reports that SPACCircle Sponsor LLC directly holds 5,750,000 Class B ordinary shares. Up to 750,000 of those shares are subject to forfeiture if the underwriters do not exercise in full their option to cover over-allotments. The Class B shares automatically convert into Class A ordinary shares one-for-one at the initial business combination, or earlier at the holder’s option, subject to adjustment. Soumen Das and MiteshKumar Patel are managing members of SPACCatalyst LLC, which is the Sponsor’s managing member.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Holding | Class B Ordinary Shares, par value $0.0001 per share F1, F2 | -- | -- | -- |
Footnotes (2)
- F1. The reported shares of SPACCircle Acquisition Corp. (the "Issuer") are directly held by SPACCircle Sponsor LLC (the "Sponsor") and include up to 750,000 Class B ordinary shares that are subject to forfeiture if the underwriters of the Issuer's initial public offering do not exercise in full an option granted to them to cover over-allotments. Pursuant to the Issuer's Amended and Restated Memorandum And Articles of Association, the Class B ordinary shares will automatically convert into the Class A ordinary shares, par value $0.0001 per share, of the Issuer at the time of the Issuer's initial business combination on a one-for-one basis, or at any time prior to the Issuer's initial business combination, at the option of the holder, subject to adjustment as described under the heading "Description of Securities--Founder Shares" in the Issuer's registration statement on Form S-1 (File No. 333-298956). The Class B ordinary shares have no expiration date.
- F2. Soumen Das and MiteshKumar Patel are the managing members of SPACCatalyst LLC, which is the managing member of the Sponsor.
Key Figures
Key Terms
over-allotments technical
initial business combination technical
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