Form 4: DMYY Sponsor Converts Class B to Class A Stock Ahead of Business Combination

dMY Squared Sponsor, LLC converted over 1.1 million Class B common shares into Class A common shares in anticipation of the business combination with Horizon Quantum Computing.

Summary

• dMY Squared Sponsor, LLC, a 10% owner and director, converted 1,163,484 shares of Class B Common Stock into an equal number of Class A Common Stock.
• This conversion occurred on March 19, 2026, immediately prior to the closing of a business combination involving dMY Squared Technology Group, Inc., Horizon Quantum Computing Pte. Ltd., and Horizon Quantum Holdings Ltd.
• Harry L. You, CEO, CFO, and Chairman of dMY Squared Technology Group, Inc., and managing member of the Sponsor, has voting and investment discretion over these shares.
• The conversion was executed on a one-for-one basis in accordance with the issuer's Amended and Restated Articles of Organization.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a procedural and expected step in the SPAC lifecycle, indicating the business combination is moving forward as planned, which is generally a positive sign for deal completion.

Positives

• The conversion of Class B to Class A common stock is a standard procedural step often associated with the completion of a business combination, indicating progress towards a merger.

Future Outlook

The filing indicates the imminent closing of a business combination between dMY Squared Technology Group, Inc., Horizon Quantum Computing Pte. Ltd., and Horizon Quantum Holdings Ltd., as the stock conversion was a prerequisite.

Management Comments

• Harry L. You is the managing member of the Sponsor and has voting and investment discretion with respect to the securities held of record by the Sponsor.
• Each of the Sponsor and Mr. You is a 'Reporting Person' and may be deemed to beneficially own the securities reported herein; however, each Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Person's pecuniary interest therein.
• Solely for purposes of Section 16 of the Exchange Act, each Reporting Person may be deemed a 'director by deputization'.

Industry Context

StockSavvy.ai notes that SPACs like dMY Squared Technology Group often undergo such conversions as part of their de-SPAC transaction, signaling the final stages of merging with a target company, in this case, Horizon Quantum Computing. This is a standard procedural step in the lifecycle of a SPAC.

Comparison to Industry Standards

• This conversion is a standard procedural step for Special Purpose Acquisition Companies (SPACs) like dMY Squared Technology Group, Inc. (DMYY) as they approach the completion of their initial business combination (de-SPAC transaction).
• Similar conversions have been observed in other SPAC mergers, such as the conversion of Class B shares to Class A shares by the sponsor of Lucid Group (LCID) (formerly Churchill Capital Corp IV) prior to its merger with Lucid Motors, or the conversion by the sponsor of Grab Holdings (GRAB) (formerly Altimeter Growth Corp.) before its business combination.
• The one-for-one conversion ratio is typical, subject to anti-dilution adjustments, aligning with common SPAC structures.

Corporate Governance

Related Party Transactions

• The transaction involves dMY Squared Sponsor, LLC, a 10% owner and entity managed by Harry L. You, who is also CEO, CFO, and Chairman of the issuer. This is an inherent related-party transaction within the SPAC structure.

Stakeholder Impact

• Shareholders: The conversion of Class B to Class A stock is a necessary step for the business combination to close, which could lead to the combined entity trading under a new ticker or with a new corporate identity. This impacts the type of shares held by the sponsor and potentially the overall share structure post-merger.

Next Steps

• Closing of the business combination between dMY Squared Technology Group, Inc., Horizon Quantum Computing Pte. Ltd., and Horizon Quantum Holdings Ltd.

Key Dates

Recommendation

This Form 4 filing reports a procedural conversion of shares by an insider, which is an expected step prior to a business combination. It does not provide new information that would fundamentally alter the investment thesis for dMY Squared Technology Group, Inc. The recommendation remains 'hold' as investors await the full details and implications of the impending business combination with Horizon Quantum Computing.

Keywords

dMY Squared Technology Group, DMYY, SEC Form 4, Beneficial Ownership, Stock Conversion, Business Combination, Horizon Quantum Computing, Insider Transaction, Class A Common Stock, Class B Common Stock