Li Jining 4

What Happened Li Jining, reported as a 10% owner, purchased 186,250 private units of Newbridge Acquisition Ltd on Feb 2, 2026. The Form 4 records two purchase entries: one for 186,250 Class A ordinary share components and one for 186,250 derivative “right” components (both reported with code P for purchase). The private units were purchased by the issuer’s sponsor, Wealth Path Holdings Limited, at $10.00 per unit for an aggregate purchase price of $1,862,500. This filing was submitted on Feb 4, 2026 (timely).

Key Details

• Transaction date: 2026-02-02; Form 4 filed: 2026-02-04 (timely).
• Quantity: 186,250 private units (reported as 186,250 shares + 186,250 derivative rights).
• Price/Value: $10.00 per unit; aggregate purchase price $1,862,500 (per footnote).
• Post-transaction holdings: not specified in the provided filing excerpt.
• Footnotes: (F1) Units held of record by Wealth Path Holdings Limited (the sponsor); Messrs. Jining Li and Yongsheng Liu jointly have voting and investment discretion over the sponsor’s securities; Mr. Li disclaims beneficial ownership except to his pecuniary interest. (F2) Each right converts automatically into 1/8 of one Class A ordinary share upon the consummation of an initial business combination.
• Transaction type codes: P = Purchase; the derivative line reports the purchase of convertible rights (not an option exercise).

Context These are sponsor private-unit purchases common with SPAC sponsors: each private unit includes one Class A share plus one right (the right converts into a fractional share—1/8—if the SPAC completes a business combination). Because Li is a reported 10% owner and the units are held of record by the sponsor vehicle, this reflects sponsor-related ownership/discretion rather than a routine open-market trade by an executive. The filing is factual and does not speak to intent or timing of any future conversion or sale.