X3 Acquisition Corp. (XCBEU) sponsor reports 5.75M Class A share equivalent stake
Filing Impact
Filing Sentiment
Form Type
3
Rhea-AI Filing Summary
X3 Acquisition Management LLC, a 10% owner of X3 Acquisition Corp. Ltd., filed an initial ownership report showing a derivative position in the company’s sponsor shares. The entity beneficially owns Class B ordinary shares that are convertible into 5,750,000 Class A ordinary shares.
These Class B shares will automatically convert to Class A shares concurrently with or immediately following the company’s initial business combination, or earlier at the holders’ option, on a one-for-one basis, subject to adjustments. The Class B ordinary shares have no expiration date, so this position remains outstanding until conversion.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
X3 Acquisition Management LLC
Role
10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Class B Ordinary Shares | -- | -- | -- |
Holdings After Transaction:
Class B Ordinary Shares — 5,750,000 shares (Direct)
Footnotes (1)
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FAQ
What does the X3 Acquisition Management LLC Form 3 for XCBEU show?
It shows that X3 Acquisition Management LLC is a 10% owner of X3 Acquisition Corp. Ltd. through Class B ordinary shares that are convertible into 5,750,000 Class A ordinary shares.
Is X3 Acquisition Management LLC a director or officer of X3 Acquisition Corp. Ltd. (XCBEU)?
X3 Acquisition Management LLC is reported as a 10% owner of X3 Acquisition Corp. Ltd., not as a director or officer.
Is this XCBEU Form 3 reporting a new transaction or existing holdings?
This Form 3 reflects existing beneficial holdings of Class B ordinary shares that are convertible into Class A ordinary shares, rather than a new purchase or sale.