Jones Ventures (JONE) Director Harshavardhan Agadi Receives 100,000 Class B Shares

What Happened

• Harshavardhan V. Agadi, a director of Jones Ventures INTL Acquisition1 Corp (JONE), was granted/assigned 100,000 Class B ordinary shares on July 13, 2026. The transaction is reported as an “other acquisition” (Form 4 code J) at $0.00 per share; the filing lists an aggregate reported value of $300 and classifies the holdings as a derivative security.
• This was an assignment from the Sponsor in connection with Mr. Agadi’s appointment to the board (not an open-market purchase or sale). Class B shares are convertible into Class A shares on a one-for-one basis at the time of the issuer’s initial business combination, subject to adjustment and potential forfeiture tied to board service.

Key Details

• Transaction date: July 13, 2026; Form 4 filed: July 17, 2026 (appears to be 4 days after the transaction; Form 4s are generally due within 2 business days).
• Price: $0.00 per share; aggregate reported value: $300; transaction code: J (other acquisition/disposition).
• Security: 100,000 Class B ordinary shares (reported as derivative securities).
• Shares owned after transaction: not specified in the filing.
• Notable footnotes: F1 — Class B shares convertible 1:1 into Class A upon initial business combination and subject to forfeiture under certain conditions tied to Mr. Agadi’s board service. F2 — Sponsor assigned the 100,000 Class B shares to Mr. Agadi per a securities purchase agreement dated July 13, 2026.

Context

• These Class B shares are typical for SPAC sponsors and insiders: they convert to Class A shares at the time of a business combination and are not tradable market purchases. Because the grant is tied to board appointment and may be forfeited if conditions aren’t met, it’s an award/assignment rather than a straightforward market buy that would signal personal conviction to hold publicly traded shares.