Bulley David Robert 4
4 · Meridian3 Industrials Acquisition Corp · Filed Jul 7, 2026
Research Summary
AI-generated summary of this filing
Meridian3 (MIAC) Director David Bulley Acquires & Sells Derivative Shares
What Happened
David Robert Bulley, a director of Meridian3 Industrials Acquisition Corp (MIAC), reported multiple "other acquisition or disposition" (code J) transactions on 2026-07-06 involving derivative securities: Class B ordinary shares (convertible into Class A shares 1-for-1) and Private Placement Warrants. Transactions included acquisitions of 3,750,000 units at $1.00 each ($3,750,000), 250,000 units at $1.00 each ($250,000), and 793,750 units at $0.01 each ($3,969), and dispositions of 2,381,250 units at $0.01 each ($11,906) and 750,000 units at $1.00 each ($750,000). Net across these moves, Bulley acquired roughly $4.00M and disposed roughly $0.76M of derivative interests.
Key Details
- Transaction date: 2026-07-06; Form filed 2026-07-07 (timely).
- Reported trades (all coded J — "other acquisition or disposition"):
- Disposed 2,381,250 @ $0.01 = $11,906 (derivative)
- Acquired 793,750 @ $0.01 = $3,969 (derivative)
- Acquired 3,750,000 @ $1.00 = $3,750,000 (derivative)
- Disposed 750,000 @ $1.00 = $750,000 (derivative)
- Acquired 250,000 @ $1.00 = $250,000 (derivative)
- Holdings after transactions (per filing footnotes): beneficially holds 793,750 Class B shares and 250,000 Private Placement Warrants via Meridian3 Capital SPC (jointly controlled), plus 25,000 Class B shares directly — total ~818,750 Class B-equivalents and 250,000 warrants.
- Notable footnotes:
- Class B shares convert 1-for-1 into Class A shares at holder option or automatically on the company’s initial business combination.
- Private Placement Warrants (priced at $1.00 when issued) each allow purchase of one Class A share at $11.50 (exercisable after a business combination; 5-year term, subject to adjustments).
- Several transfers reflect allocations from the Sponsor and control through Meridian3 Capital SPC; Bulley disclaims beneficial ownership except to extent of pecuniary interest.
Context and investor takeaway: These were derivative transfers (Class B shares and private warrants), not open-market buys/sells of Class A stock. Purchases of derivative interests (notably the $1.00-per-unit items) increased Bulley’s economic stake; disposals were smaller by value. Derivative movements can reflect sponsor transfers or internal allocations rather than market-driven buying/selling, so interpret accordingly and pair with other filings for fuller context.
Insider Transaction Report
- Other
Class B Ordinary Shares
[F1][F2][F7]2026-07-06$0.01/sh−2,381,250$11,906→ 2,450,000 total(indirect: By LLC)→ Class A Ordinary Shares (2,381,250 underlying) - Other
Class B Ordinary Shares
[F1][F3][F6]2026-07-06$0.01/sh+793,750$3,969→ 793,750 total(indirect: Through Meridian3 Capital SPC - Meridian3 Industrials Acquisition SP)→ Class A Ordinary Shares (793,750 underlying) - Other
Private Placement Warrants (Right to Buy)
[F4][F5][F7]2026-07-06$1.00/sh+3,750,000$3,750,000→ 3,750,000 total(indirect: By LLC)Exercise: $11.50→ Class A Ordinary Shares (3,750,000 underlying) - Other
Private Placement Warrants (Right to Buy)
[F4][F5][F7]2026-07-06$1.00/sh−750,000$750,000→ 3,000,000 total(indirect: By LLC)Exercise: $11.50→ Class A Ordinary Shares (750,000 underlying) - Other
Private Placement Warrants (Right to Buy)
[F4][F5][F6]2026-07-06$1.00/sh+250,000$250,000→ 250,000 total(indirect: Through Meridian3 Capital SPC - Meridian3 Industrials Acquisition SP)Exercise: $11.50→ Class A Ordinary Shares (250,000 underlying)
Footnotes (7)
- [F1]The Class B Ordinary Shares, par value $0.0001 per share ("Class B Shares"), have no expiration date and are convertible into Class A Ordinary Shares, par value $0.0001 per share ("Class A Shares"), of the Issuer at any time at the option of the holder on a one-for-one basis and will otherwise automatically convert into Class A Shares at the time of the Issuer's initial business combination on a one-for-one basis.
- [F2]Pursuant to securities assignment agreements between Meridian3 Partners Sponsor LLC (the "Sponsor") and each of the sponsor team members, the Sponsor transferred an aggregate of 2,381,250 Class B Shares to the sponsor team members upon the closing of the Issuer's initial public offering (the "IPO") at $0.005 per share.
- [F3]Pursuant to a securities assignment agreement between the Reporting Person and the Sponsor, the Sponsor transferred 396,875 Class B Shares each to the Reporting Person and to Faramaraz Jeremey Mistry for a purchase price of $0.005 per share at IPO. The total 793,750 Class B Shares are held through the entity Meridian3 Capital SPC - Meridian3 Industrials Acquisition SP, which is jointly controlled by the Reporting Person and Faramaraz Jeremey Mistry.
- [F4]Each Private Placement Warrant of the Issuer reported herein entitles the holder thereof to purchase one Class A Share at a price of $11.50 per share, subject to adjustment as described in the registration statement of the Issuer. The Private Placement Warrants will become exercisable 30 days after the completion of the Issuer's initial business combination and will expire at 5:00 p.m., New York City time, five years after the completion of the Issuer's initial business combination, or earlier upon redemption, or the Issuer's liquidation. Pursuant to a warrant assignment agreement between the Reporting Person and the Sponsor, upon the closing of the IPO, the Sponsor transferred 125,000 Private Placement Warrants each to the Reporting Person and to Faramaraz Jeremey Mistry. The total 250,000 Private Placement Warrants are held through the entity Meridian3 Capital SPC - Meridian3 Industrials Acquisition SP, which is jointly controlled by the Reporting Person and Faramaraz Jeremey Mistry.
- [F5]The Sponsor purchased the Private Placement Warrants at a price of $1.00 per warrant in a private placement that closed simultaneously with the closing of the IPO. The price reported reflects the per-warrant purchase price paid by the Sponsor, which is the price at which the warrants were transferred to the Reporting Person.
- [F6]The Reporting Person beneficially holds 793,750 Class B Shares and 250,000 Private Placement Warrants by virtue of their joint control of Meridian3 Capital SPC - Meridian3 Industrials Acquisition SP, which is the sole managing member of the Sponsor. The Reporting Person also holds 25,000 Class B Shares, previously reported on Form 3, directly in their own name.
- [F7]The Reporting Person may be deemed to be the beneficial owner of the securities by virtue of their control of Meridian3 Capital SPC - Meridian3 Industrials Acquisition SP, which is the sole managing member of the Sponsor. The Reporting Person disclaims beneficial ownership of the securities except to the extent of their pecuniary interest therein.