McDonagh Theodore William 4
4 · New America Acquisition I Corp. · Filed Feb 19, 2026
Research Summary
AI-generated summary of this filing
New America (NWAX) Director Theodore McDonagh Receives 50,000 Founder Shares
What Happened
Theodore William McDonagh, a director of New America Acquisition I Corp. (NWAX), is reported on a Form 4 as having an indirect beneficial interest in 50,000 Founder Shares held by the company’s sponsor. No price or cash proceeds are reported — these are Founder (Class B) shares, a derivative security that will convert one-for-one into Class A common stock at the issuer’s business combination (or earlier at the holder’s option).
Key Details
- Transaction reported: 50,000 Founder Shares (derivative interest) dated 2026-02-17; no price or dollar value reported (N/A).
- Shares owned after transaction: 50,000 (beneficial interest via sponsor).
- Footnote F1: Founder Shares (Class B) convert into Class A common stock one-for-one at the time of the initial business combination (or earlier at the holder’s option); no expiration date.
- Footnote F2: McDonagh received his interest indirectly through membership in New America Sponsor I LLC; he may be deemed to beneficially own the 50,000 shares but disclaims voting/dispositive control except to the extent of any pecuniary interest.
Context
These Founder Shares are typically issued to sponsors/founders as part of SPAC formation and are not the same as an open-market purchase or sale. They convert into tradable Class A shares only upon a qualifying business combination (or earlier if the holder elects). The filing documents an ownership interest rather than an active market trade by the director.
Insider Transaction Report
- Sale
Class B Common Stock
[F1][F2]2026-02-17+50,000→ 50,000 total(indirect: See Footnote)→ Class A Common Stock (50,000 underlying)
Footnotes (2)
- [F1]As described in the issuer's registration statement on Form S-1 (File No. 333-289204) under the heading "Description of Securities - Founder Shares," shares of Class B common stock, par value $0.0001 per share (the "Founder Shares"), of the issuer will automatically convert into shares of Class A common stock, par value $0.0001 per share, of the issuer at the time of the issuer's initial business combination, or earlier at the option of the holder, on a one-for-one basis, subject to certain adjustments, and have no expiration date.
- [F2]Mr. McDonagh received for his services as a director of the issuer an indirect interest in the Founder Shares through membership interests in New America Sponsor I LLC (the "Sponsor"). Mr. McDonagh may be deemed to beneficially own 50,000 shares held by the Sponsor by virtue of his membership interest therein. Mr. McDonagh does not have voting or dispositive control over the Sponsor and disclaims beneficial ownership except to the extent of his pecuniary interest.