Evolution Metals & Technologies Corp. officer details 2.23M-share indirect stake
Rhea-AI Filing Summary
Evolution Metals & Technologies Corp. insider Christopher Clower filed an initial statement of beneficial ownership as an officer serving as CFO and Chief Operating Officer. The filing reports indirect beneficial ownership of 2,227,417 shares of common stock, held through Welsbach Acquisition Holdings LLC, identified as the Sponsor.
The explanation states this amount represents 1,931,922 Founder Shares initially held by the Sponsor, reduced by 91,764 Founder Shares transferred to certain officers, directors, and advisors, plus 352,054 shares underlying private units purchased by the Sponsor, and 35,205 shares underlying the conversion of private rights that automatically convert at business combination closing. The Founder Shares are described as identical to public stock except they do not have redemption rights. Mr. Clower may be deemed to share beneficial ownership through his role as a managing member of the Sponsor but disclaims ownership beyond his pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Welsbach Acquisition Holdings LLC (the "Sponsor") is the record holder of the securities reported herein. Christopher Clower is one of the managing members of the Sponsor (alongside Daniel Mamadou). Mr. Clower may be deemed to have shared beneficial ownership of the shares held by the Sponsor by virtue of his control over the Sponsor, as a managing member of the Sponsor. Mr. Clower disclaims beneficial ownership of the common stock held by the Sponsor other than to the extent of his pecuniary interest in such shares Represents 1,931,922 Founder Shares initially held by the Sponsor, minus the transfer of an aggregate of 91,764 Founder Shares to certain officers, directors, and advisors, plus 352,054 shares underlying private units purchased by the Sponsor, plus 35,205 shares underlying the conversion of private rights which automatically converts at business combination closing. The Founder Shares are identical to the public stock in all respects, except that the Founder Shares do not have Redemption Rights.
FAQ
What is Christopher Clower’s relationship to Welsbach Acquisition Holdings LLC?
Welsbach Acquisition Holdings LLC is identified as the Sponsor and record holder of the reported securities. Christopher Clower is described as one of the managing members of the Sponsor, alongside Daniel Mamadou.