Rainier Acquisition (RNAQ) 10% Owner Jonas Grossman Buys Stock

What Happened

• Jonas Grossman, identified as a 10% owner (through Ravenna 7 LLC, of which he is the sole managing member), purchased 194,375 Units from Rainier Acquisition Corp in a private placement on August 28, 2026. Each Unit was bought at $10.00 for a total of $1,943,750.
• The Units consist of one Class A ordinary share and one-quarter of one warrant. The filing also shows acquisition of 48,593 derivative securities (reflecting the 0.25 warrant per Unit), priced at $10.00 for $485,930. Combined consideration for both line items is $2,429,680. This is a purchase (acquisition), not a sale.

Key Details

• Transaction date: August 28, 2026; Price: $10.00 per Unit/share line item.
• Shares/units acquired: 194,375 Units (each Unit = 1 Class A share + 0.25 warrant); derivative warrants recorded: 48,593 (filing shows 48,593; 194,375 × 0.25 = 48,593.75).
• Total reported value: $1,943,750 (Units) + $485,930 (derivative line) = $2,429,680.
• Shares held after transaction: not specified in the provided filing.
• Filing date: Aug 28, 2026 (same day as transaction — appears timely).
• Footnotes of note:
  • F1: Units were purchased from the issuer in a private placement at $10 per Unit.
  • F2: The shares are held directly by Ravenna 7 LLC; Mr. Grossman disclaims beneficial ownership except for any pecuniary interest.
  • F3: Warrants become exercisable on the later of Aug 28, 2026 or completion of the issuer's initial business combination; they expire five years after that combination (subject to earlier redemption or liquidation).

Context

• These were purchases of Units (share + warrant fraction) in a private placement, not open-market buys; the attached warrants are not necessarily immediately exercisable — exercisability depends on the SPAC’s business combination timing. Because the securities are held by an LLC (Ravenna 7 LLC) and Mr. Grossman disclaims direct beneficial ownership beyond any pecuniary interest, this reflects an institutional/affiliate acquisition structure rather than a personal brokerage trade.