ASPAC IV (Holdings) Corp. 4

What Happened A SPAC IV (Holdings) Corp. (the Sponsor), a reported 10% owner, recorded conversions of derivative securities into 7,116,667 shares of Enhanced Group Inc. Class A common stock on May 7, 2026. The Form 4 shows one acquisition entry for 7,116,667 shares and corresponding disposition entries totaling 7,116,667 shares reflecting the conversion of underlying A Paradise securities and private placement instruments in connection with the merger that created the current Issuer. No dollar prices are reported for these conversion transactions.

Key Details

• Transaction date: May 7, 2026 (reported on Form 4 filed May 13, 2026).
• Transaction type: Conversion of derivative securities into Class A common stock (derivative conversion entries coded “C”).
• Shares reported acquired: 7,116,667 Class A shares.
• Shares reported disposed (reflecting conversion of underlying instruments): 6,666,667; 400,000; and 50,000 (totaling 7,116,667).
• Footnote highlights:
  • These conversions were part of the merger/recapitalization described in the merger agreement among A Paradise Acquisition Corp., Merger Sub and Enhanced; A Paradise changed its name to Enhanced Group Inc. and the merger did not change proportionate securityholder interests (F1).
  • The 7,116,667 shares break down as: 6,666,667 from converted A Paradise shares, 400,000 underlying Private Placement Units, and 50,000 issuable upon conversion of private placement rights (F2).
  • The reported shares are directly held by the Sponsor; Claudius Tsang is the Sponsor’s sole director with voting and investment discretion (F3).
• Filing timeliness: The Form 4 was filed six days after the reported transaction date (May 7 → filed May 13), which is later than the typical two-business-day Form 4 filing requirement.

Context

• These entries reflect corporate reorganization and conversion of pre-merger securities into the Issuer’s Class A common stock rather than an open-market buy or sell by an individual executive. As a 10% institutional owner (the Sponsor), this is procedural conversion activity tied to the merger, not an insider trading signal by an executive.
• No cash price or market-value figure was reported for the conversions on the Form 4 excerpt provided.