Form 4: Mangrove Partners IM, LLC Reports Change in Beneficial Ownership, No Longer Subject to Section 16

Mangrove Partners IM, LLC files Form 4 to report it is no longer subject to Section 16 of the Exchange Act after its ownership stake in Arogo Capital Acquisition Corp. fell below 10%.

Summary

• Mangrove Partners IM, LLC (formerly Mangrove Partners) has filed a Form 4 with the SEC.
• The filing indicates that Mangrove Partners IM, LLC is no longer subject to Section 16 of the Securities Exchange Act of 1934.
• This is because, as of September 6, 2024, Mangrove Partners no longer beneficially owns more than 10% of Arogo Capital Acquisition Corp.'s Class A Common Stock.
• As of August 21, 2024, there were 4,349,909 shares of Class A Common Stock outstanding.
• Mangrove Partners elected to redeem all of its shares of Class A Common Stock for cash on December 28, 2024, after it was no longer subject to Section 16.
• Nathanial August is no longer deemed an indirect beneficial owner of the Class A Common Stock held by the Master Fund and thus has been removed as a reporting person on this Form 4.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing indicating a change in ownership and reporting requirements. It doesn't convey particularly positive or negative sentiment.

Future Outlook

Mangrove Partners IM, LLC will no longer be required to report transactions on Form 4 or Form 5 regarding Arogo Capital Acquisition Corp.'s Class A Common Stock.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by insiders and major shareholders, providing transparency to the market.

Stakeholder Impact

• Shareholders are informed about changes in ownership structure.
• The company is aware of the change in reporting obligations for Mangrove Partners IM, LLC.

Key Dates