Ranjan Saurabh 4
4 · Matternet, Inc. · Filed May 27, 2026
Research Summary
AI-generated summary of this filing
Matternet Director Ranjan Saurabh Receives Awards and Purchases Shares
What Happened
Ranjan Saurabh, a director of Matternet, reported multiple acquisitions on May 22, 2026. He received four awards/merger-related stock issuances totaling 2,348,914 shares (no cash price reported) and made an open-market purchase of 58,333 shares at $3.00 each for $174,999. Combined, these transactions increased his reported holdings by 2,407,247 shares.
Key Details
- Transaction date(s): May 22, 2026. Form 4 filed May 27, 2026 (filed 5 days after the transactions; exceeds the usual 2-business-day filing window).
- Awarded shares (no price): 413,902; 784,545; 368,041; 782,426 (total awards = 2,348,914). These awards were received in connection with the issuer's merger and a private placement per the filing footnotes.
- Open-market purchase (P): 58,333 shares @ $3.00 = $174,999.
- Conversion detail: Per the merger agreement, each Legacy Matternet share converted into 2.0801 shares of the issuer at the merger’s effective time (per footnote).
- Ownership reporting: Several award blocks are held directly by affiliated investment vehicles (Cerracap Growth Fund I LP, Cerracap II, LP, Cerracap International Investments SP, Cerracap Ventures Matternet LLC). Mr. Saurabh is Managing Partner of those entities and may be deemed to share voting/dispositive power; he disclaims beneficial ownership except to the extent of his pecuniary interest.
- Filing timeliness: Filed May 27 for May 22 transactions — appears late relative to the standard 2-business-day Form 4 deadline.
Context
- The large stock receipts were merger- and private-placement-related awards, not option exercises or sales; such issuances reflect corporate transactions (merger conversion and subscription) rather than a market-timed purchase or sale.
- The only straight market purchase here was the 58,333-share buy at $3.00 (~$175k), which is a direct purchase and is generally more informative about an insider’s personal buying than awards.
- Because many shares are held in funds where Mr. Saurabh is a managing partner, reported “beneficial ownership” may reflect fund holdings rather than direct, personal stock ownership.
Insider Transaction Report
Form 4
Matternet, Inc.NONE
Ranjan Saurabh
Director
Transactions
- Award
Common Stock
[F1][F2]2026-05-22+413,902→ 413,902 total(indirect: By Cerracap Growth Fund I LP) - Award
Common Stock
[F1][F3]2026-05-22+784,545→ 784,545 total(indirect: By Cerracap II, LP) - Award
Common Stock
[F1][F4]2026-05-22+368,041→ 368,041 total(indirect: By Cerracap International Investments SPC) - Award
Common Stock
[F1][F5]2026-05-22+782,426→ 782,426 total(indirect: By LLC) - Purchase
Common Stock
[F6][F2]2026-05-22$3.00/sh+58,333$174,999→ 58,333 total(indirect: By CerraCap Growth Fund I LP)
Footnotes (6)
- [F1]Received in connection with the Issuer's merger (the "Merger") with Matternet, Inc. ("Legacy Matternet") in accordance with the terms of the Agreement and Plan of Merger and Reorganization dated as of May 22, 2026, by and among the Issuer (f/k/a Los Altos Ventures Corp.), Matternet Acquisition Co. and Legacy Matternet (the "Merger Agreement"), in exchange for shares of Legacy Matternet common stock. Pursuant to the terms of the Merger Agreement, at the effective time of the Merger, each issued and outstanding share of Legacy Matternet common stock was converted into the right to receive 2.0801 shares of the Issuer's common stock, rounded to the nearest whole share.
- [F2]The shares are held directly by Cerracap Growth Fund I LP ("Cerracap Growth"). Mr. Ranjan is Managing Partner of Cerracap Growth and may be deemed to have shared voting and dispositive power with respect to the shares held by Cerracap Growth and as a result may be deemed to have beneficial ownership of such shares. Ms. Ranjan expressly disclaims beneficial ownership of all securities held by Cerracap Growth except to the extent of his pecuniary interest therein.
- [F3]The shares are held directly by Cerracap II, LP ("Cerracap II"). Mr. Ranjan is Managing Partner of Cerracap II and may be deemed to have shared voting and dispositive power with respect to the shares held by Cerracap II and as a result may be deemed to have beneficial ownership of such shares. Ms. Ranjan expressly disclaims beneficial ownership of all securities held by Cerracap II except to the extent of his pecuniary interest therein.
- [F4]The shares are held directly by Cerracap International Investments SP ("Cerracap International"). Mr. Ranjan is Managing Partner of Cerracap International and may be deemed to have shared voting and dispositive power with respect to the shares held by Cerracap International and as a result may be deemed to have beneficial ownership of such shares. Ms. Ranjan expressly disclaims beneficial ownership of all securities held by Cerracap International except to the extent of his pecuniary interest therein.
- [F5]The shares are held directly by Cerracap Ventures Matternet LLC ("Cerracap Ventures"). Mr. Ranjan is Managing Partner of Cerracap Ventures and may be deemed to have shared voting and dispositive power with respect to the shares held by Cerracap Ventures and as a result may be deemed to have beneficial ownership of such shares. Ms. Ranjan expressly disclaims beneficial ownership of all securities held by Cerracap Ventures except to the extent of his pecuniary interest therein.
- [F6]Received in connection with the Issuer's private placement in accordance with the terms of the Subscription Agreement dated as of May 22, 2026, by and among the Issuer (f/k/a Los Altos Ventures Corp.) and the purchasers set forth therein.
Signature
/s/ Jason Benjamin Secore, Attorney-in-Fact|2026-05-27