Texas Ventures IV (TVIVU) sponsor holds 5.75M Class B founder shares
Rhea-AI Filing Summary
Texas Ventures Acquisition IV Corp filed an initial insider ownership report showing that TXV Partners IV, LLC, the sponsor, holds 5,750,000 Class B ordinary shares. These founder shares 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, and have no expiration date.
The holdings include up to 750,000 Class B shares that may be forfeited if the underwriters do not fully exercise their over-allotment option. E. Scott Crist, the company’s CEO and Chairman, is the sole managing member of the sponsor and may be deemed to beneficially own these securities, but he disclaims beneficial ownership beyond his pecuniary interest.
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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. 333-292010) of Texas Ventures Acquisition IV Corp (the "Issuer") under the heading "Description of Securities--Founder Shares," the shares of Class B ordinary 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 Class B ordinary shares held by TXV Partners IV, LLC (the "Sponsor") acquired pursuant to a subscription agreement by and between the Issuer and the Sponsor. The Class B ordinary shares include up to 750,000 shares that are subject to forfeiture in the event the underwriters of the Issuer's initial public offering do not exercise in full their over-allotment option as described in the Issuer's registration statement. E. Scott Crist, CEO and Chairman of the Issuer, is the sole managing member of the Sponsor and holds voting and investment discretion with respect to the ordinary shares held of record by the Sponsor. As such, Mr. Christ may be deemed to have beneficial ownership of the securities held of record by the Sponsor. Mr. Christ disclaims any beneficial ownership except to the extent of his pecuniary interest therein.