Tavia Acquisition Corp: 10% owner Tavia Sponsor sold 2,741,547 shares

What happened

• Tavia Sponsor Pte. Ltd., identified as a 10% owner, reported dispositions on Oct 1, 2026: 2,492,440 ordinary shares sold and 249,107 derivative units disposed. The filing reports prices and total values as N/A.

Key details

• Transaction date(s) and price(s): Oct 1, 2026; price reported as N/A for both transactions.
• Shares owned after the transaction: Sponsor continues to hold 1,500,000 ordinary shares (the "Retained Shares").
• Relevant agreements and closing: On Sep 29, 2026 the sponsor and Fog Cutter Holdings LLC (the "New Sponsor") entered a Purchase and Sponsor Handover Agreement; the Purchase Agreement was approved by the issuer's board on Sep 29, 2026 and the transaction closed on Oct 1, 2026, at which time the New Sponsor became the issuer's sponsor (per the issuer's Form 8-K filed Oct 2, 2026).
• Details on the derivative units: the 249,107 reported as derivative correspond to private placement units (each consisting of one ordinary share and one right entitling the holder to receive one-tenth (1/10) of one ordinary share upon completion of the issuer's initial business combination); Private Rights have no expiration date.
• Control and ownership: The sponsor was the record holder of the reported securities prior to the transaction and remains the record holder of the Retained Shares. Kanat Mynzhanov is identified as the controlling shareholder of the sponsor and is reported to hold voting and investment discretion with respect to the sponsor's securities; he disclaims beneficial ownership except to the extent of his pecuniary interest.
• Filing timeliness: the filing does not indicate late reporting.

Why it may matter

• 10% owner: the filer is a large holder rather than an executive officer.
• Derivative transaction: the 249,107 units are private placement units/rights that convert to one-tenth (1/10) of a share upon consummation of an initial business combination.
• A filing does not show why the insider traded or why the company acted.