White Pearl Group Ltd 4

What Happened

• White Pearl Group Ltd, the sponsor and a 10% owner of White Pearl Acquisition Corp (WPAC), acquired 290,000 units on Feb 3, 2026. Each unit consists of one Class A ordinary share plus one right to receive one-fifth (1/5) of a Class A ordinary share upon completion of WPAC's initial business combination.
• The units were purchased at $10.00 per unit for an aggregate purchase price of $2,900,000. The Form 4 shows the transaction as both the share component and the derivative right component (two P codes). This is a purchase (not a sale).

Key Details

• Transaction date: 2026-02-03; purchase price: $10.00 per unit; total = $2,900,000.
• Position recorded: 290,000 units (each = 1 Class A share + 1 right). If the rights convert at closing, the 290,000 rights would convert into 58,000 additional Class A shares (290,000 × 1/5).
• Footnotes: F1 explains the unit composition and that Mr. Yun Chen has sole voting and dispositive power over the sponsor’s securities; F2 notes the rights convert automatically into Class A shares at the completion of the initial business combination.
• Filing status: Reported on 2026-02-03 (no late filing indicated).

Context

• These are sponsor/institutional holdings typical for SPACs; the acquisition reflects sponsor ownership rather than an individual executive buying stock on the open market.
• The derivative component is a conversion right tied to the SPAC’s business combination — not an options exercise or a sale.