Form 4: Miluna Acquisition CEO Lin Adjusts Ownership

Miluna Acquisition Corp's CEO, Shang Ju Lin, reported changes in his beneficial ownership, including a transfer of shares in the company's sponsor and a direct grant of insider shares.

Summary

• Shang Ju Lin, CEO and Director of Miluna Acquisition Corp (MMTX), filed a Form 4 reporting changes in his beneficial ownership.
• On November 12, 2025, Mr. Lin resigned as the sole director of MilunaC Technology Limited (the "Sponsor"), and Mr. Hao Yuan was appointed as the sole director.
• In connection with this transition, Mr. Lin transferred portions of his ordinary shares of the Sponsor to Mr. Yuan and certain other persons.
• Following these transfers, the Sponsor now has multiple shareholders, each with sole voting and dispositive power over their respective equity interests in the Sponsor.
• No single shareholder of the Sponsor, including Mr. Lin, has the right to vote or dispose of, or direct the voting or disposition of, the securities of Miluna Acquisition Corp held by the Sponsor.
• On July 18, 2025, the Sponsor transferred 25,000 insider shares to Mr. Shang Ju Lin as the Issuer's chief executive officer pursuant to an executed share transfer agreement.
• Mr. Lin beneficially owns 1,848,100 Ordinary Shares directly.
• Mr. Lin indirectly beneficially owns 25,000 Ordinary Shares through the transfer from the Sponsor.

Sentiment

Score: 5

Explanation: The filing is a factual report of changes in beneficial ownership and management within the sponsor entity, without explicit positive or negative implications for the company's operational or financial performance.

Positives

• Shang Ju Lin received 25,000 insider shares as CEO, aligning his interests further with the company's performance.

Negatives

• Shang Ju Lin's influence over the Sponsor's holdings in Miluna Acquisition Corp has been diluted, as he is no longer the sole director of the Sponsor and transferred portions of his shares in the Sponsor.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future performance or operations.

Industry Context

This Form 4 filing details changes in beneficial ownership for a key executive of a Special Purpose Acquisition Company (SPAC). Such filings are routine for insiders and reflect changes in their direct and indirect holdings, often due to structural changes within the SPAC's sponsor entity or compensation arrangements.

Management Changes

Corporate Governance

Related Party Transactions

• Shang Ju Lin, as CEO and Director, transferred portions of his ordinary shares of MilunaC Technology Limited (the Sponsor) to Hao Yuan and other persons.
• MilunaC Technology Limited (the Sponsor) transferred 25,000 insider shares to Shang Ju Lin, the Issuer's chief executive officer.

Stakeholder Impact

• Shareholders of Miluna Acquisition Corp may observe a change in the indirect control structure of the company's sponsor, potentially leading to a more distributed influence among the sponsor's shareholders.

Key Dates

Keywords

Miluna Acquisition Corp, MMTX, Shang Ju Lin, Beneficial Ownership, Form 4, Insider Trading, Corporate Governance, Sponsor, Share Transfer