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.
SPACCircle Acquisition Corp.'s Form 3 lists John Dicconson as a reporting person and identifies him as Chief Executive Officer and a director.
SPACCircle Acquisition Corp. (SCQCU) identifies Diana Glassman as a director in a Form 3 ownership report.
SPACCircle Acquisition Corp. identifies director Daniel Thomas Torpey as a reporting person on a Form 3.
SPACCircle Acquisition Corp. proposes an initial public offering of 10,000,000 units at $10.00 each, or $100,000,000. Each unit includes one Class A ordinary share, one redeemable warrant and one right to receive one-half of a Class A share upon a business combination. Underwriters hold a 45-day option for up to 1,500,000 additional units. The sponsor separately plans to buy 266,590 private placement units for $2,665,900. Sales may begin only after the registration statement becomes effective.
No target has been selected, and the company reports no substantive target discussions. It has 12 months from offering close to complete a business combination and may seek a shareholder-approved extension. Public shareholders may redeem shares in connection with a business combination or extension vote; if no deal is completed within the permitted period, the company will redeem 100% of public shares from the trust account. The prospectus estimates immediate dilution to public shareholders at approximately 98.70%, or $9.87 per share, assuming no over-allotment and assigning no value to warrants or Share Rights; pro forma net tangible book value is $0.13 per share versus the $10.00 offering price. Warrants are exercisable at $11.50 per share beginning 30 days after a business combination.