Liu Yongsheng 4

What Happened
Liu Yongsheng, listed as CEO, is associated with a purchase of 186,250 private units tied to Newbridge Acquisition Ltd (NBRG). The units were bought at $10.00 per unit for an aggregate price of $1,862,500. The Form 4 shows two related entries dated 2026-02-02: one for the Class A share component and one for the derivative "right" component of the private units. This is a purchase (acquisition) rather than a sale.

Key Details

• Transaction date: 2026-02-02; Form 4 filed 2026-02-04 (appears timely).
• Transaction type: P = Purchase (private units purchased by the issuer's sponsor, Wealth Path Holdings Limited).
• Quantity and price: 186,250 private units at $10.00 per unit; total cost $1,862,500.
• Structure: Each private unit consists of one Class A ordinary share plus one right. Each right converts automatically into 1/8 of one Class A ordinary share upon consummation of the issuer's initial business combination (so 186,250 rights would convert into 23,281.25 shares upon that event).
• Ownership/beneficial interest: The units are 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-held securities and therefore may be deemed to have beneficial ownership, but Mr. Liu disclaims beneficial ownership except to the extent of his pecuniary interest.
• No indication of a 10b5-1 plan, tax withholding, gift, or option exercise in this filing.

Context: This transaction reflects a sponsor-level private-unit purchase that bundles shares and conversion rights tied to a future business combination. For retail investors, purchases can be a stronger signal than sales, but here the units were purchased by the sponsor (not necessarily a personal cash purchase by the CEO), and the rights only convert into fractional shares upon a future merger/combination event.