SPACCircle sponsor holds 5.75M Class B shares
Up to 750,000 Class B shares are subject to forfeiture if underwriters do not fully exercise the option to cover over-allotments.
Sentiment and the balance of points
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Rhea-AI Filing Summary
SPACCircle Acquisition Corp. (SCQCU) reports 5,750,000 Class B ordinary shares directly held by SPACCircle Sponsor LLC. Soumen Das, a director and 10% owner, and SPACCatalyst LLC, a 10% owner, are listed as indirect reporting persons for the holding. Das and MiteshKumar Patel are managing members of SPACCatalyst LLC, which is the Sponsor’s managing member. Up to 750,000 Class B shares are subject to forfeiture if the underwriters do not exercise in full their option to cover over-allotments. The shares automatically convert into Class A ordinary shares on a one-for-one basis at the initial business combination, or may be converted earlier at the holder’s option, subject to adjustment.
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 financial
initial business combination financial
one-for-one basis technical
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