Karman Line (XTERU) CEO holds 750K Class B shares, much via LLC
Rhea-AI Filing Summary
Karman Line Acquisition Corp. (XTERU) reported the initial equity holdings of reporting person Richard Charles Davis, who serves as CEO and director. The filing lists beneficial ownership of 750,000 Class B ordinary shares, consisting of 250,000 shares held directly and 500,000 shares held indirectly through ArgoSat Consulting LLC, where Davis and Chief Technology Officer Dr. Graeme Shaw share voting and dispositive power. The Class B ordinary shares will automatically convert into Class A ordinary shares on a one-for-one basis at the time of the company’s initial business combination, or earlier at the holder’s option, and have no expiration date, subject to adjustments. Davis disclaims beneficial ownership of the ArgoSat-held shares except to the extent of his pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Davis Richard Charles
Role
CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Class B Ordinary Shares F1, F2 | -- | -- | -- |
| holding | Class B Ordinary Shares F1 | -- | -- | -- |
Holdings After Transaction:
Class B Ordinary Shares — 500,000 shares (Indirect, See Footnote);
Class B Ordinary Shares — 250,000 shares (Direct)
Footnotes (2)
- F1. As described in the issuer's registration statement on Form S-1 (File No. 333-297706) under the heading "Description of Securities - Founder Shares," the Class B ordinary shares, par value $0.0001 per share, of the issuer will automatically convert into Class A ordinary shares, par value $0.0001 per share, of the issuer at the time of the issuer's initial business combination, or earlier at the option of the holder, on a one-for-one basis, subject to certain adjustments, and have no expiration date.
- F2. Represents 500,000 shares of Class B ordinary shares held by ArgoSat Consulting LLC ("ArgoSat"). Mr. Davis and Dr. Graeme Shaw, the issuer's Chief Technology Officer are each managing members of ArgoSat and, as such, share voting and dispositive power over the shares held by ArgoSat. Mr. Davis disclaims beneficial ownership of the shares except to the extent of his pecuniary interest therein.
Key Figures
Total Class B ordinary shares beneficially owned: 750,000 shares
Indirectly held Class B ordinary shares: 500,000 shares
Directly held Class B ordinary shares: 250,000 shares
+2 more
5 metrics
Total Class B ordinary shares beneficially owned
750,000 shares
Class B ordinary shares of Karman Line Acquisition Corp. reported on Form 3
Indirectly held Class B ordinary shares
500,000 shares
Class B ordinary shares held through ArgoSat Consulting LLC with shared voting and dispositive power
Directly held Class B ordinary shares
250,000 shares
Class B ordinary shares held directly by Richard Charles Davis
Par value of Class B ordinary shares
$0.0001 per share
Par value for Class B ordinary shares that automatically convert into Class A shares
Conversion ratio Class B to Class A
1:1
Automatic conversion of Class B ordinary shares to Class A ordinary shares at business combination or earlier
Key Terms
Class B ordinary shares, Class A ordinary shares, initial business combination, disclaims beneficial ownership, +1 more
5 terms
initial business combination financial
"will automatically convert into Class A ordinary shares ... at the time 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.
disclaims beneficial ownership financial
"Mr. Davis disclaims beneficial ownership of the shares except to the extent of his pecuniary"
pecuniary interest financial
"disclaims beneficial ownership of the shares except to the extent of his pecuniary interest"
FAQ
What insider holdings did the Form 3 report for XTERU’s CEO Richard Charles Davis?
The Form 3 reports that Richard Charles Davis is deemed to beneficially own 750,000 Class B ordinary shares of Karman Line Acquisition Corp., including 250,000 shares held directly and 500,000 shares held indirectly through ArgoSat Consulting LLC.
What role does ArgoSat Consulting LLC play in the XTERU insider holdings?
ArgoSat Consulting LLC holds 500,000 Class B ordinary shares of Karman Line Acquisition Corp. Richard Charles Davis and Chief Technology Officer Dr. Graeme Shaw are managing members of ArgoSat and share voting and dispositive power over these shares held by the LLC.
What executive positions does the reporting person hold at Karman Line Acquisition Corp. (XTERU)?
The reporting person, Richard Charles Davis, serves as both Chief Executive Officer and director of Karman Line Acquisition Corp., according to the Form 3 insider ownership disclosure filed for the company.
AI-generated analysis. How Rhea-AI works. Not financial advice.
