Meteora Capital and Vik Mittal Report 560,061 Class A Shares in TETEW
Rhea-AI Filing Summary
Technology & Telecommunication Acquisition Corp disclosure shows Meteora Capital, LLC and Vik Mittal report beneficial ownership of 560,061 Class A ordinary shares included as part of the units, representing 14.08% of the class. The shares are held by funds and managed accounts for which Meteora Capital serves as investment manager.
The filing states Meteora Capital and Mr. Mittal have shared voting and dispositive power over the 560,061 shares and hold no sole voting or sole dispositive power. The amendment certifies the securities are held in the ordinary course of business.
Positive
- Reports a material 14.08% ownership of Class A ordinary shares (560,061 shares)
- Shared voting power over 560,061 shares is explicitly disclosed
- Reporting persons identified as an investment manager and its managing member (Meteora Capital and Vik Mittal)
Negative
- No sole voting power (sole voting power reported as 0)
- No sole dispositive power (sole dispositive power reported as 0)
Insights
TL;DR: An investment manager reports a material 14.08% position, indicating concentrated institutional ownership of TETEW Class A shares.
The Schedule 13G/A shows a substantive, reportable stake equal to 14.08% of the Class A ordinary shares, held by funds and managed accounts advised by Meteora Capital. The position is recorded with shared voting and dispositive power, and no sole control. As a disclosure, this is material information for shareholders because it quantifies a large, concentrated holding by an investment manager without indicating an intent to control.
TL;DR: Shared voting/dispositive authority over 560,061 shares is disclosed; reporting reflects coordinated holdings but not sole control.
The filing identifies Meteora Capital (Type: IA) and its managing member, Vik Mittal, as the reporting persons and documents shared voting and dispositive power over the reported shares. The filing is an amendment to prior Schedule 13G disclosures and includes a certification that holdings are in the ordinary course of business. Governance implications stem from the stake size and shared authority, though the filing does not assert unilateral control.