Thews (Mauritius) Ltd 4

What Happened

• Thews (Mauritius) Ltd, the Sponsor and a 10% owner of Shreya Acquisition Group (SAGU), reported purchases on 2026-05-08 of 191,750 private units. Each private unit consists of one Class A ordinary share, one warrant, and one right to receive one-fourth (1/4) of a Class A ordinary share upon the issuer’s initial business combination. The private units were purchased at $10.00 per unit for an aggregate $1,917,500. The Form 4 lists three related entries (one for the Class A share component and two derivative entries) reflecting the bundled nature of the private units.

Key Details

• Transaction date: 2026-05-08; Form 4 filed: 2026-05-11 (filed within the reporting window).
• Price: $10.00 per private unit; total consideration $1,917,500. Individual Class A share price shown as N/A because the purchase was of bundled private units.
• Shares/units held after transaction: reflects ownership of 191,750 private units by the Sponsor (each unit = 1 Class A share + 1 warrant + 1 right to 1/4 share).
• Footnotes: F2 explains unit composition and purchase price; F3 notes warrants become exercisable 30 days after completion of the issuer’s initial business combination and expire five years after that event (subject to earlier redemption/liquidation); F4 describes the 1/4 share right upon combination.
• Insider type: Sponsor / 10% owner (institutional), not an individual executive — treat as sponsor holding rather than personal stock trading.

Context

• The derivative entries are not separate option exercises; they reflect the warrants and rights that are packaged with each private unit. Warrants will only be exercisable after the SPAC (issuer) completes its initial business combination and have a limited post-combination life. Rights convert to fractional shares upon that combination. Purchases by a sponsor are part of SPAC structuring and funding — factual ownership increases, but not an individual insider “buy” signaling day-to-day sentiment.