ENRIQUEZ DAHLHAUS Jean Michel 4

What Happened

• Jean Michel Enriquez Dahlhaus, a director of West Enclave Merger Corp. (WENC U), acquired a total of 45,000 ordinary shares on May 1, 2026 in connection with the issuer’s initial public offering. The reported acquisition consists of 5,000 Private Units purchased at $10.00 per unit (each unit = 1 ordinary share + a right to receive 0.1 ordinary share upon a business combination) and 40,000 founder shares transferred to him by the Sponsor for aggregate consideration of approximately $260.87 (~$0.0065 per founder share). The combined consideration is roughly $50,260.87.

Key Details

• Transaction date: 2026-05-01 (reported filing date 2026-05-01). Transaction code: P (purchase).
• Prices: 5,000 Private Units at $10.00 per unit; 40,000 founder shares transferred for aggregate ~$260.87.
• Shares reported acquired: 45,000 ordinary shares (5,000 from Private Units + 40,000 founder shares).
• Shares owned after transaction: 45,000 ordinary shares (as reflected in this report).
• Footnote: Private Units include one ordinary share plus a right to receive one-tenth of one ordinary share upon completion of an initial business combination; founder shares were transferred by West Enclave Sponsor LLC at nominal consideration.
• Timeliness: Filing reflects the transaction date and was submitted in connection with the IPO (no late-filing indication in the report).

Context

• This was an acquisition tied to the company’s IPO structure (private placement + founder share transfer), not an open-market purchase. Private Units include a right that may yield additional shares if a future business combination closes, so the economic terms differ from a simple share buy. Founder-share transfers at nominal prices are common in SPAC/IPO sponsor arrangements and do not represent an open-market investment decision.