Sponsor for TRG Latin America Acquisitions (TRGSU) buys 225K Class A shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
TRG Latin America Acquisitions Corp. reported an open-market purchase of 225,000 Class A ordinary shares at $10.00 per share on behalf of its sponsor, TRG Latin America Acquisitions LLC. Footnotes state that TRG Allocation LLC and Chief Executive Officer Nick S. Rohatyn control the managing member of the sponsor and therefore may be deemed beneficial owners of these securities, while each disclaims beneficial ownership except to the extent of any pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 225,000 shares ($2,250,000)
Net Buy
1 txn
Insider
TRG Latin America Acquisitions LLC, TRG Allocation LLC, Rohatyn Nicolas S
Role
10% Owner | 10% Owner | See Remarks
Bought
225,000 shs ($2.25M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Class A Ordinary Shares | 225,000 | $10.00 | $2.25M |
Holdings After Transaction:
Class A Ordinary Shares — 225,000 shares (Direct)
Footnotes (1)
- Represents shares underlying the private placement units (each unit consisting of one Class A ordinary share one right to receive one-tenth (1/10) of one Class A ordinary share upon consummation of the Issuer's initial business combination) directly held by TRG Latin America Acquisitions LLC (the "Sponsor"), and which were acquired pursuant to a Private Placement Units Purchase Agreement by and between the Sponsor and TRG Latin America Acquisitions Corp. (the "Issuer"). Does not include 5,750,000 Class B ordinary shares, which 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 adjustment as described under the heading "Description of Securities--Founder Shares" in the Issuer's registration statement on Form S-1 (File No. 333-293354). Nick S. Rohatyn, the Chief Executive Officer and Chairman of the Issuer, controls TRG Allocation LLC, the managing member of the Sponsor and has voting and investment discretion with respect to the securities held of record by the Sponsor. As such, each of TRG Allocation LLC and Mr. Rohatyn may be deemed to have beneficial ownership of the securities held of record by the Sponsor. Each of TRG allocation LLC and Mr. Rohatyn disclaims any beneficial ownership except to the extent of his pecuniary interest therein.
FAQ
What insider transaction did TRG Latin America Acquisitions Corp. (TRGSU) report?
TRG Latin America Acquisitions Corp. reported that its sponsor bought 225,000 Class A ordinary shares in an open-market transaction at $10.00 per share. The purchase increases the sponsor’s direct holdings and is disclosed as a significant ownership position linked to key affiliated entities.
What type of security was involved in the TRGSU Form 4 transaction?
The transaction involved Class A ordinary shares of TRG Latin America Acquisitions Corp., tied to private placement units. Each unit consists of one Class A ordinary share and one right to receive one-tenth of a Class A ordinary share upon completion of the initial business combination.
What was the transaction direction in the TRGSU Form 4 insider report?
The Form 4 describes a buy transaction, specifically an open-market purchase of 225,000 Class A ordinary shares at $10.00 per share. This is classified as a non-derivative acquisition, increasing the sponsor’s directly held position in the company’s Class A ordinary shares.