Vernal sponsor buys 213,562 VECA private units
Vernal One Limited, a sponsor of Vernal Capital Acquisition Corp., acquired additional interests in connection with the company’s initial public offering.
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Form Type
4
Rhea-AI Filing Summary
Vernal One Limited, a sponsor of Vernal Capital Acquisition Corp., acquired additional interests in connection with the company’s initial public offering. The sponsor bought 213,562 private units at $10.00 per unit, for an aggregate purchase price of $2,135,620.
Each private unit consists of one ordinary share and one right to receive one-fourth of an ordinary share upon completion of Vernal’s initial business combination. After these purchases, the sponsor holds 2,657,312 ordinary shares and 213,562 rights indirectly, with director and 10% owner Du Jun exercising voting and investment discretion over the sponsor’s holdings.
Insider Trade Summary
Net Buyer: 427,124 shares
Net Buy
2 txns
Insider
DU JUN
Role
See Remarks
Bought
427,124 shs ($0.00)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Rights to receive Ordinary Shares | 213,562 | $0.00 | $0.00 |
| Purchase | Ordinary Shares | 213,562 | $0.00 | $0.00 |
Holdings After Transaction:
Rights to receive Ordinary Shares — 213,562 contracts (Indirect, See FN);
Ordinary Shares — 2,657,312 shares (Indirect, See FN)
Footnotes (3)
- F1. Vernal One Limited (the "Sponsor"), one of the sponsors of the Issuer, is the record holder of the securities reported herein. Mr. Jun Du is the sole member of the Sponsor and has the voting and investment discretion with respect to the securities held of record by the Sponsor.
- F2. Simultaneously with the consummation of the Issuer's initial public offering, the Sponsor acquired, at a price of $10.00 per unit, 213,562 units (the "Private Units") in a private placement for an aggregate purchase price of $2,135,620. Each Private Unit consists of one ordinary share and one right entitling the holder to receive one-fourth (1/4) of one ordinary share upon consummation of the Issuer's initial business combination. The reported shares in Table I are the 213,562 ordinary shares included in such Private Units and the reported rights in Table II are the 213,562 rights included in such Private Units.
- F3. Each holder of a right will automatically receive one-fourth (1/4) of one ordinary share upon consummation of the Issuer's initial business combination.
Key Figures
Private units purchased: 213,562 units
Price per private unit: $10.00 per unit
Aggregate purchase price: $2,135,620
+4 more
7 metrics
Private units purchased
213,562 units
Acquired simultaneously with initial public offering
Price per private unit
$10.00 per unit
Sponsor purchase price in private placement
Aggregate purchase price
$2,135,620
Total paid by Vernal One Limited for private units
Ordinary shares in private units
213,562 shares
One ordinary share per private unit acquired
Rights acquired
213,562 rights
One right per private unit, convertible into 1/4 share
Ordinary shares after transaction
2,657,312 shares
Indirectly held by Vernal One Limited following acquisition
Rights after transaction
213,562 rights
Indirectly held by Vernal One Limited following acquisition
Key Terms
initial public offering, private placement, rights to receive one-fourth (1/4) of one ordinary share, aggregate purchase price, +1 more
5 terms
initial public offering financial
"Simultaneously with the consummation of the Issuer's initial public offering, the Sponsor acquired..."
An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.
private placement financial
"...213,562 units (the "Private Units") in a private placement for an aggregate purchase price..."
A private placement is a sale of securities directly to a selected group of investors, typically institutions or accredited investors, instead of through a public offering. It lets a company raise money faster and with fewer regulatory steps; for existing shareholders it matters because the newly issued shares, often sold at a discount, increase the share count and can dilute their ownership.
aggregate purchase price financial
"...at a price of $10.00 per unit, 213,562 units... for an aggregate purchase price of $2,135,620."
The aggregate purchase price is the total amount a buyer pays to acquire a company, assets or securities, including the headline payment plus any assumed debt, fees, taxes and contractually required adjustments. It matters to investors because it shows the true cost of a deal and how much value must be realized after the sale — like knowing the full price of a house once you add closing costs, repairs and outstanding mortgage obligations.
initial business combination financial
"Each holder of a right will automatically receive one-fourth (1/4) of one ordinary share upon consummation of the Issuer's initial business combination."
An initial business combination is the deal in which a special-purpose acquisition company (SPAC) merges with or acquires an operating business to bring that business onto public markets. Think of the SPAC as an empty shell that raises money from investors, then uses that cash to buy a private company—this transaction turns the private company into a public one and often changes its ownership, valuation, and access to capital, so investors should watch for shifts in risk, future growth prospects, and shareholder rights.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Vernal Capital Acquisition Corp. (VECA) disclose in this Form 4?
The filing shows Vernal One Limited, a sponsor of Vernal Capital Acquisition Corp., acquired 213,562 private units at $10.00 per unit, each containing one ordinary share and one right. Director and 10% owner Du Jun controls voting and investment decisions for these holdings.
What was the total purchase price for the VECA private units?
The sponsor paid an aggregate purchase price of $2,135,620 for 213,562 private units, at $10.00 per unit. These units were bought simultaneously with Vernal Capital Acquisition Corp.’s initial public offering in a private placement transaction.
How do the VECA rights reported in the Form 4 work?
Each right entitles the holder to receive one-fourth of one ordinary share upon completion of Vernal Capital Acquisition Corp.’s initial business combination. The sponsor holds 213,562 such rights, corresponding to potential receipt of additional ordinary shares after the combination closes.
Who is considered to control the VECA securities reported in this Form 4?
Vernal One Limited is the record holder of the ordinary shares and rights, but Du Jun is the sole member of the sponsor. He has voting and investment discretion over the securities held by Vernal One Limited, giving him effective control over these interests.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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