Form 4: Columbus Acquisition Corp: Director Fen Zhang Forfeits 225,000 Ordinary Shares

Director Fen Zhang reports the forfeiture of 225,000 ordinary shares by the Sponsor, Hercules Capital Management VII Corp, due to the underwriters not exercising their over-allotment option following Columbus Acquisition Corp's IPO.

Summary

• Fen Zhang, a director, 10% owner, and CEO of Columbus Acquisition Corp, reported a change in beneficial ownership on March 11, 2025.
• The change involves the forfeiture of 225,000 ordinary shares by Hercules Capital Management VII Corp (the 'Sponsor'), where Dr. Zhang is the sole director.
• The forfeiture occurred because the underwriters of Columbus Acquisition Corp's initial public offering (IPO) did not exercise their over-allotment option within 45 days of the IPO's effective date.
• The IPO's Registration Statement on Form S-1 was declared effective on January 22, 2025.
• Following the forfeiture, the Sponsor now holds 1,698,290 ordinary shares, including 1,464,000 ordinary shares and 234,290 ordinary shares included in private units acquired during the IPO.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing a pre-planned adjustment to share ownership. It doesn't inherently indicate positive or negative sentiment, but rather a procedural outcome.

Industry Context

This filing is standard procedure for reporting changes in beneficial ownership by company insiders, particularly following events like IPOs and the expiration of over-allotment options. It reflects adjustments to ownership structure based on pre-agreed terms.

Stakeholder Impact

• The forfeiture of shares has a minor impact on the Sponsor's ownership stake.
• The forfeiture has no material impact on other stakeholders.

Key Dates