Mahuad Quijano Emilio 4

What Happened

• Emilio Mahuad (Co-Chief Executive Officer and Principal Financial Officer, reported as a 10% owner via the Sponsor) reported two related transactions on 2026-05-01: an acquisition of 127,500 ordinary shares (as part of 127,500 private units) and a disposition/transfer of 1,380,000 founder shares.
• The private placement purchase: 127,500 units at $10.00 per unit for an aggregate $1,275,000 (each Private Unit = one ordinary share + one right to receive 0.1 ordinary share on a business combination). The founder-share transfer: 1,380,000 founder shares were transferred for aggregate consideration of approximately $9,000 (~$0.0065 per founder share). The Form 4 lists purchase (P) and sale/ disposition (S) with N/A for per-share market prices, but the footnotes supply the transaction economics.

Key Details

• Transaction date: 2026-05-01 (filed same day).
• Purchase: 127,500 ordinary shares included in Private Units, $10.00 per unit, total $1,275,000 (Footnote F1).
• Disposition/transfer: 1,380,000 founder shares to certain designees for ~ $9,000 total (~$0.0065/ share) (Footnote F3).
• Holdings after transaction: the filing reports the private units held by West Enclave Sponsor LLC and the founder shares transferred to designees; the Form 4 does not state an exact post-transaction beneficial total for Mr. Mahuad beyond Sponsor holdings (Footnote F2).
• Footnotes: F1 explains the private-unit purchase; F2 notes the securities are held directly by the Sponsor and indirectly by Mr. Mahuad (he disclaims beneficial ownership except to the extent of pecuniary interest); F3 describes the founder-share transfers on IPO closing.
• Timeliness: Filed 2026-05-01 for transactions dated 2026-05-01 (no late filing indicated).

Context

• These transactions appear tied to the issuer’s IPO/closing mechanics: the Sponsor’s private-unit purchase is a standard SPAC private placement at $10/unit, while the founder-share transfers were nominal-consideration transfers to designees on closing — common in SPAC formations and not necessarily an open-market sale.
• As a reported 10% owner via the Sponsor, Mr. Mahuad’s reported holdings are largely through the Sponsor entity; the filing includes the typical disclaimer of individual beneficial ownership except for pecuniary interest.