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.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Class B Ordinary Shares | -- | -- | -- |
Footnotes (1)
- As described in the registration statement on Form S-1 (File No. 333-290414) of SPACSphere Acquisition Corp. (the "Issuer") under the heading "Description of Securities-Founder Shares," the Class B ordinary shares ("Founder Shares") will automatically convert into shares of Class A ordinary shares at the time of the Issuer's initial business combination, or at any time prior to the Issuer's initial business combination, at the option of the holder, on a one-for-one basis, subject to certain adjustments. The Class B ordinary shares have no expiration date. These shares represent the Founder Shares held by SPACSphere Sponsor LLC (the "Sponsor"). The Sponsor held 5,750,000 shares at the effectiveness of the Issuer's registration statement. Upon the closing of a private placement that closed simultaneously with the initial public offering, the Sponsor sold, assigned and transferred an aggregate of 500,00 Founder Shares to the direct institutional investors. Bala Padmakumar and SPACCatalyst LLC are the sole managing members of the Sponsor and hold voting and investment discretion with respect to the ordinary shares held of record by the Sponsor. Through their control of SPACCatalyst LLC, each of Messrs. Das and Patel may be deemed to share voting and investment discretion with respect to such shares held indirectly by SPACCatalyst LLC. Each of SPACCatalyst LLC and Messrs. Padmakumar, Das and Patel disclaim beneficial ownership of any shares other than to the extent they may have a pecuniary interest therein, directly or indirectly.
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.
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.