Double Ventures Holdings Ltd 3
3 · East Stone Acquisition Corp · Filed Feb 19, 2020
Insider Transaction Report
Form 3
Double Ventures Holdings Ltd
10% Owner
Holdings
- 1,500,000
Ordinary Shares, no par value
Footnotes (2)
- [F1]These shares represent the ordinary shares held by Double Ventures Holdings Limited (the "Sponsor"), acquired pursuant to a securities purchase agreement dated October 22, 2018 by and between the Sponsor and the issuer. The ordinary shares owned by the Sponsor includes up to 450,000 shares that are subject to forfeiture in the event the underwriters of the initial public offering of the issuer's securities do not exercise in full their over-allotment option as described in the issuer's registration statement.
- [F2]Chunyi (Charlie) Hao is the sole officer and director of the Sponsor. Mr. Hao owns 33.3% of the Sponsor, and Fan Yu owns 66.7% of the Sponsor. As a result, Mr. Hao and Ms. Yu may be deemed to share voting and investment discretion with respect to the ordinary shares held by the Sponsor. Each may thus be deemed to have beneficial ownership of the ordinary shares held directly by the Sponsor. Each person disclaims any beneficial ownership of the reported shares other than to the extent of any pecuniary interest they may have therein, directly or indirectly.