SCHEDULE: Bolt Projects Holdings: Sponsor Reduces Stake
Beneficial Ownership Update
Golden Arrow Sponsor and its principals report a 10.8% beneficial ownership in Bolt Projects Holdings, primarily through warrants, following recent open market share sales.
Summary
- Golden Arrow Sponsor, LLC and its principals (Timothy Babich, Jacob Doft, Lance Hirt, and Andrew Rechtschaffen) collectively beneficially own 250,000 shares of Bolt Projects Holdings, Inc. Common Stock.
- This ownership represents 10.8% of the company's outstanding Common Stock, calculated based on 2,311,779 shares outstanding as of August 13, 2025.
- The beneficially owned shares are issuable upon the exercise of a currently exercisable warrant.
- The Sponsor disclaims beneficial ownership except to the extent of pecuniary interest therein.
- The reporting persons share voting and dispositive power over these 250,000 shares.
Sentiment
Score: 5
Explanation: Neutral. The filing is a factual update on beneficial ownership and recent share sales by a significant shareholder. It does not contain positive or negative operational or financial news, but the sales could be interpreted as a reduction in insider confidence.
Negatives
- Golden Arrow Sponsor, LLC sold a total of 367,088 shares of Common Stock on the open market between July 8, 2025, and August 13, 2025.
- Sales occurred at varying weighted average prices, ranging from $2.1254 to $3.425 per share.
Future Outlook
No forward-looking statements or guidance are provided in this filing.
Industry Context
This filing is a routine disclosure of significant ownership changes by a major shareholder (the Sponsor), common in the lifecycle of companies that have undergone a de-SPAC transaction, as Bolt Projects Holdings was formerly Golden Arrow Merger Corp. The sales by the Sponsor are typical as initial investors monetize their positions post-merger.
Related Party Transactions
- Golden Arrow Sponsor, LLC, controlled by Timothy Babich, Jacob Doft, Lance Hirt, and Andrew Rechtschaffen, is the record holder of the warrant and the entity conducting the share sales. These individuals are also reporting persons, indicating a related party relationship.
Stakeholder Impact
- Shareholders: The sale of shares by a significant holder could increase market supply and potentially put downward pressure on the stock price. It also signals a reduction in the Sponsor's direct equity exposure.
Key Dates
| Date | Description |
|---|---|
| 2024-08-21 | Original Statement on Schedule 13D filed with the SEC. |
| 2024-12-31 | Amendment No. 1 to Schedule 13D filed with the SEC. |
| 2025-02-19 | Amendment No. 2 to Schedule 13D filed with the SEC. |
| 2025-07-08 | Golden Arrow Sponsor, LLC sold 205,759 shares of Common Stock on the open market. |
| 2025-07-17 | Golden Arrow Sponsor, LLC sold 116,132 shares of Common Stock on the open market. |
| 2025-08-06 | Date as of which 2,061,779 shares of Common Stock were outstanding, as reported in the Issuer's Quarterly Report on Form 10-Q. |
| 2025-08-11 | Golden Arrow Sponsor, LLC sold 4,953 shares of Common Stock on the open market. |
| 2025-08-12 | Golden Arrow Sponsor, LLC sold 3,579 shares of Common Stock on the open market; Issuer's Quarterly Report on Form 10-Q filed. |
| 2025-08-13 | Date of event requiring filing of this statement; Golden Arrow Sponsor, LLC sold 36,665 shares of Common Stock on the open market. |
| 2025-08-15 | Amendment No. 3 to Schedule 13D filed with the SEC; Joint Filing Agreement dated and signed. |
Keywords
Bolt Projects Holdings, Golden Arrow Sponsor, Schedule 13D, Beneficial Ownership, Common Stock, Warrant, Insider Sales, SEC Filing, Equity Stake, Shareholder Update
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