06/09/2026 | Press release | Distributed by Public on 06/09/2026 14:05
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FORM 4
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN 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 |
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| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
| 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 control number. | SEC 1474 (9-02) | ||
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1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) |
4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Class B ordinary shares | (1) | 06/05/2026 | C(1) | 5,710,000(1) | (1) | (1) | Series A Common Stock | 5,710,000 | $ 0 | 5,710,000 | D(2) | ||||
| Class B ordinary shares | (1) | 06/05/2026 | C(1) | 100,000(1) | (1) | (1) | Series A Common Stock | 100,000 | $ 0 | 100,000 | I | See footnote(1) | |||
| Class B ordinary shares | (6) | 06/05/2026 | J(6) | 1,090,000(6) | (6) | (6) | Series A Common Stock | 1,090,000 | $ 0 | 0 | D(2) | ||||
| Warrants | $11.50 | (7) | (7) | Series A Common Stock | 4,400,000 | 4,400,000 | D(2) | ||||||||
| Warrants | $11.50 | (7) | (7) | Series A Common Stock | 324,120 | 324,120 | I | See footnote(5) | |||||||
| Reporting Owner Name / Address | Relationships | |||
| Director | 10% Owner | Officer | Other | |
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CGC III Sponsor LLC 505 FIFTH AVENUE, 15TH FLOOR NEW YORK, NY 10017 |
X | |||
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Yu Peter 505 FIFTH AVENUE, 15TH FLOOR NEW YORK, NY 10017 |
X | X | Chairman and CEO | |
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Pangaea Three-B, LP 505 FIFTH AVENUE, 15TH FLOOR NEW YORK, NY 10017 |
X | |||
| /s/ Thomas Martin, Attorney-in-Fact | 06/09/2026 | |
| **Signature of Reporting Person | Date |
| * | If the form is filed by more than one reporting person, see Instruction 4(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). |
| (1) | The Class B ordinary shares are convertible for shares of Series A Common Stock as described in the Issuer's Registration Statement on Form S-4 (File No. 333-294663) (the "Registration Statement") and have no expiration date. On June 5, 2026, the Issuer consummated its initial business combination (the "Business Combination"). In connection with the Business Combination, 6,800,000 Class B ordinary shares held by CGC III Sponsor LLC (the "Sponsor") and 100,000 Class B ordinary shares held by CGC III Sponsor DirectorCo ("DirectorCo") converted into Series A Common Stock on a one-for-one basis. |
| (2) | Represents securities held by the Sponsor. Pangaea Three B, LP ("Pangaea") is the sole member of the Sponsor and is controlled by Peter Yu. Consequently, each of Pangaea and Mr. Yu may be deemed to share voting and dispositive control over the securities held by the Sponsor, and thus to share beneficial ownership of such securities. Mr. Yu disclaims beneficial ownership of the securities held by the Sponsor, except to the extent of his pecuniary interest therein. |
| (3) | These shares of Series A Common Stock were acquired by Pangaea in a private placement upon consummation of the Business Combination. |
| (4) | These shares of Series A Common Stock were acquired upon consummation of the Business Combination for no additional consideration. |
| (5) | Represents securities held by Pangaea. Pangaea is controlled by Peter Yu. Consequently, Mr. Yu may be deemed to share voting and dispositive control over the securities held by Pangaea, and thus to share beneficial ownership of such securities. Mr. Yu disclaims beneficial ownership of the securities held by Pangaea, except to the extent of his pecuniary interest therein. |
| (6) | The Class B ordinary shares are convertible for shares of Series A Common Stock as described in the Issuer's Registration Statement and have no expiration date. On June 5, 2026, the Sponsor forfeited 1,090,000 Class B ordinary shares in connection with the consummation of the Business Combination. |
| (7) | Each warrant shall become exercisable on July 5, 2026, 30 days after the completion of the Business Combination as described in the Issuer's Registration Statement. Each warrant shall expire on June 5, 2031, five years after the completion of the Business Combination, or earlier upon redemption or liquidation, as described in the Issuer's Registration Statement. |