Director of Xsolla SPAC 1 (XSLLU) reports 73,334 Class B shares

Rhea-AI Filing Summary

Xsolla SPAC 1 director Perry Michael Fischer reported his initial holdings in the company. The filing shows he beneficially owns 73,334 Class B ordinary shares, held directly. These Class B shares will automatically convert into Class A ordinary shares on a one-for-one basis when the SPAC completes its initial business combination, or earlier at the holders' option, and they have no expiration date.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Fischer Perry Michael

Role Director

Type	Security	Shares	Price	Value
holding	Class B Ordinary Shares	--	--	--

Holdings After Transaction: Class B Ordinary Shares — 73,334 shares (Direct)

Footnotes (1)

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SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Fischer Perry Michael

(Last) (First) (Middle)

15260 VENTURA BOULEVARD, SUITE 2230

(Street)

SHERMAN OAKS CA 91403

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
01/28/2026

3. Issuer Name and Ticker or Trading Symbol
Xsolla SPAC 1 [ XSLLU ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Class B Ordinary Shares	(1)	(1)	Class A Ordinary Shares	73,334	(1)	D

Explanation of Responses:

1. The Class B ordinary shares will automatically convert into Class A ordinary shares concurrently with or immediately following the consummation of the Issuer's initial business combination, or earlier at the option of the holders thereof on a one-for-one basis, subject to the adjustments. The Class B ordinary shares have no expiration date.

	/s/ Perry Michael Fischer	02/19/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What does Xsolla SPAC 1 (XSLLU) Form 3 report for Perry Michael Fischer?

The Form 3 reports that director Perry Michael Fischer holds 73,334 Class B ordinary shares of Xsolla SPAC 1. This establishes his initial beneficial ownership position as an insider of the special purpose acquisition company.

How many shares does Perry Michael Fischer own in Xsolla SPAC 1 (XSLLU)?

Perry Michael Fischer is reported to beneficially own 73,334 Class B ordinary shares of Xsolla SPAC 1. These shares are held directly and represent his disclosed ownership at the time of the Form 3 filing.

What are the Class B ordinary shares reported in XSLLU’s Form 3?

The reported Class B ordinary shares are a separate share class of Xsolla SPAC 1. They will automatically convert into Class A ordinary shares upon completion of the initial business combination or earlier at the holders’ option, on a one-for-one basis.

When do Xsolla SPAC 1 (XSLLU) Class B shares convert to Class A shares?

Class B ordinary shares automatically convert into Class A ordinary shares concurrently with or immediately following Xsolla SPAC 1’s initial business combination. They may also convert earlier at the option of the holders, using a one-for-one conversion ratio.

Do the Class B ordinary shares in XSLLU held by Perry Michael Fischer expire?

The Form 3 states that the Class B ordinary shares have no expiration date. This means the shares and their associated conversion rights remain outstanding until converted into Class A ordinary shares or otherwise disposed of.

Is the Form 3 for Xsolla SPAC 1 (XSLLU) a buy or sell transaction?

The Form 3 is an initial ownership report, not a buy or sell trade. It discloses that director Perry Michael Fischer beneficially owns 73,334 Class B ordinary shares, establishing his starting position as an insider.