Silicon Valley Acquisition sponsor transfers 500K Class B
Sponsor entity linked to SVAQ transferred 500,000 founder shares at no cost to an institutional investor related to financing for a proposed business combination.
Rhea-AI Filing Summary
SILICON VALLEY ACQUISITION SPONSOR LLC reported disposition transactions in this Form 4 filing.
Silicon Valley Acquisition Corp. (SVAQ) reports that Silicon Valley Acquisition Sponsor LLC transferred 500,000 Class B ordinary shares, which are convertible into an equal number of Class A ordinary shares, to an institutional investor at no cost on September 17, 2026. The transfer was made under a Founder Shares Transfer Agreement in connection with a note financing for the target in the issuer's proposed business combination. The Sponsor remains the record holder of the remaining shares, with a reported 6,665,950 Class B ordinary shares held after the transaction. Dan Nash, as managing member of the Sponsor, may be deemed to have beneficial ownership but disclaims it except for his pecuniary interest.
Positive
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Negative
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Class B ordinary shares F1, F2, F3 | 500,000 | $0.00 | $0.00 |
Footnotes (3)
- F1. As described in the Issuer's registration statement on Form S-1 (File No. 333-290366) (the "Registration Statement") under the heading "Description of Securities", the Class B ordinary shares will automatically convert into Class A ordinary shares at the time of the Issuer's initial business combination, or earlier at the option of the holder, on a one-for-one basis, subject to certain adjustments described therein and have no expiration date.
- F2. Silicon Valley Acquisition Sponsor LLC (the "Sponsor") transferred 500,000 Class B ordinary shares to an institutional investor at no cost (the "Transfer"), pursuant to the terms and conditions of that certain Founder Shares Transfer Agreement, dated as of September 17, 2026, by and among the Sponsor, the Issuer and the institutional investor. The Transfer was made in connection with a note financing for the target in connection with the Issuer's proposed business combination, as further described in the Issuer's Current Report on Form 8-K, filed on September 18, 2026.
- F3. The Sponsor is the record holder of such securities. Dan Nash is the managing member of the Sponsor, and as such, has voting and investment discretion with respect to, and may be deemed to have beneficial ownership of, the securities held by the Sponsor. Mr. Nash disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.
Key Figures
Key Terms
initial business combination financial
pecuniary interest financial
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