Form 4: Borealis Foods Director Mynzhanov Kanat Reports Acquisition and Disposal of Class A Common Stock

Director Mynzhanov Kanat reports acquiring 50,000 shares and disposing of 250,000 shares of Borealis Foods Inc. Class A Common Stock on October 9, 2024.

Summary

• On October 9, 2024, Kanat Mynzhanov, a director of Borealis Foods Inc., reported a transaction involving the company's Class A Common Stock.
• Mynzhanov acquired 50,000 shares and disposed of 250,000 shares.
• The acquisition of 50,000 shares was a transfer for no consideration from Oxus Capital PTE. LTD. pursuant to an incentive agreement dated September 22, 2023.
• Mynzhanov owns a membership interest in Oxus Capital PTE. LTD., which directly owns shares of Borealis Foods Inc.'s Class A common shares, resulting in an indirect pecuniary interest in certain securities held by the Issuer.

Sentiment

Score: 5

Explanation: This is a neutral report of stock transactions by a company director. It doesn't inherently indicate positive or negative sentiment.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the trading activities of company insiders.

Related Party Transactions

• The acquisition of 50,000 shares was a transfer for no consideration from Oxus Capital PTE. LTD. pursuant to an incentive agreement between the Reporting Person and Oxus Capital PTE. LTD., dated as of September 22, 2023.
• The Reporting Person owns a membership interest in Oxus Capital PTE. LTD., which directly owns shares of the Issuer's Class A common shares and, as a result thereof, the Reporting Person also holds an indirect pecuniary interest in certain of the securities held by the Issuer.

Stakeholder Impact

• Shareholders may be interested in the trading activity of company insiders as it can provide insights into their perspective on the company's value and prospects.

Key Dates