Velos (VLOS) 10% Owner Chinh Chu Sells 4.28M Shares

What Happened
Chinh Chu, reported as a 10% owner through sponsor entities, sold 4,279,275 Class A ordinary shares of Velos Acquisition I Corp. (VLOS) on July 20, 2026 at $3.33 per share for aggregate gross proceeds of approximately $14,250,000. The sale followed the automatic/opt-in conversion of sponsor-held Class B "founder" ordinary shares to Class A shares; the filing shows conversion activity involving 7,187,500 shares in connection with that conversion.

Key Details

• Transaction date: July 20, 2026; Form 4 filed July 22, 2026 (timely).
• Sale: 4,279,275 Class A shares at $3.33 each → $14,249,986 reported.
• Conversion: Sponsor converted 7,187,500 Class B founder shares into Class A shares (one-for-one) prior to the sale.
• Shares owned after transaction: not specified in the filing for Chinh Chu individually; the Sponsor is reported as the direct holder.
• Footnotes: F1–F4 explain the Class B→Class A conversion mechanics, the Securities Purchase Agreements (SPAs) under which the Sponsor sold the converted shares to certain investors, the per-share price ($3.33), and the sponsor/entity ownership chain culminating in Chinh Chu (with disclaimers of beneficial ownership except to the extent of pecuniary interest).

Context
This transaction reflects a sponsor conversion of founder shares and a subsequent sale to outside investors per SPAs — a liquidity event by the sponsor rather than a routine open-market trade by a company executive. As a 10% owner reported through layered entities, Chinh Chu’s report reflects the sponsor’s actions; the filing includes entity ownership/disclaimer language clarifying that the sponsor directly holds the securities.