SPACSphere Acquisition (SSACU) CFO lists 5.25M indirect founder shares
Rhea-AI Filing Summary
SPACSphere Acquisition Corp.’s director, CFO and 10% owner Soumen Das filed an initial ownership report showing an indirect interest in 5,250,000 Class B “Founder Shares”. These Class B ordinary shares are held by SPACSphere Sponsor LLC and are convertible into Class A ordinary shares on a one-for-one basis in connection with the company’s initial business combination or earlier at the holder’s option. The filing explains that SPACSphere Sponsor LLC originally held 5,750,000 Founder Shares and transferred 500,000 to direct institutional investors at a private placement closing, and that various managing members, including entities associated with Das, may share voting and investment discretion while disclaiming beneficial ownership beyond any pecuniary interest.
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FAQ
What insider position did Soumen Das report in SPACSphere Acquisition Corp. (SSACU)?
Soumen Das reported an indirect interest in 5,250,000 Class B Founder Shares of SPACSphere Acquisition Corp. These shares are held through SPACSphere Sponsor LLC, where entities associated with Das share voting and investment discretion, subject to beneficial ownership disclaimers.
How do SPACSphere Acquisition Corp. (SSACU) Founder Shares convert into Class A shares?
The Class B ordinary shares, or Founder Shares, automatically convert into Class A ordinary shares at the time of SPACSphere’s initial business combination, or earlier at the holder’s option, on a one-for-one basis, subject to certain adjustments and with no expiration date.
Who legally holds the 5,250,000 Founder Shares related to Soumen Das at SPACSphere (SSACU)?
The 5,250,000 Founder Shares are held of record by SPACSphere Sponsor LLC. Managing members, including SPACCatalyst LLC and associated individuals, have voting and investment discretion, while disclaiming beneficial ownership beyond any direct or indirect pecuniary interest.
What change occurred from the original Founder Shares held by SPACSphere Sponsor LLC (SSACU)?
SPACSphere Sponsor LLC initially held 5,750,000 Founder Shares at registration statement effectiveness. At a private placement closing, it sold, assigned and transferred 500,000 Founder Shares to direct institutional investors, leaving 5,250,000 shares associated with the Sponsor.
What roles does Soumen Das hold at SPACSphere Acquisition Corp. (SSACU)?
Soumen Das is disclosed as a director, CFO, and 10% owner of SPACSphere Acquisition Corp. His reported Founder Share interest is indirect, held through SPACSphere Sponsor LLC, with associated entities sharing voting and investment discretion.
Does Soumen Das claim full beneficial ownership of the SPACSphere (SSACU) Founder Shares?
No. The filing states that SPACCatalyst LLC and Messrs. Padmakumar, Das and Patel disclaim beneficial ownership of any shares except to the extent of their pecuniary interest, even though they may share voting and investment discretion.