Form 4: Director Wang Wenbing Reports Departure and Share Transactions Following Thunder Power Holdings Merger
SEC Form 4
Wang Wenbing, a director of Thunder Power Holdings, reports the acquisition and disposal of shares related to the Feutune Light Acquisition Corporation merger and his departure from the director role.
Summary
- This Form 4 filing reports changes in beneficial ownership for Wang Wenbing, a director of Thunder Power Holdings, Inc.
- The report is related to the consummation of the initial business combination of Feutune Light Acquisition Corporation (FLFV) with Thunder Power Holdings Limited.
- As part of the merger agreement, FLFV changed its name to Thunder Power Holdings, Inc.
- Wang Wenbing acquired 30,000 shares of common stock upon closing of the business combination on June 21, 2024.
- Wang Wenbing disposed of 40,000 shares of common stock on June 21, 2024.
- This 'Exit' Form 4 is voluntarily filed because Wang Wenbing is no longer serving as a director or holding more than 10% of the issuer's shares, and is therefore no longer subject to Section 16 reporting.
- The report was signed on June 25, 2024.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing related to a merger and a director's departure. It doesn't convey strong positive or negative sentiment.
Future Outlook
The document does not contain any specific forward-looking statements regarding the company's future outlook.
Industry Context
This filing reflects the completion of a business combination between a special purpose acquisition company (SPAC), Feutune Light Acquisition Corporation, and Thunder Power Holdings Limited, a private company. Such mergers are a common way for private companies to become publicly listed. The filing indicates a change in the company's leadership structure following the merger.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Director | Wang Wenbing | N/A | June 21, 2024 | Resignation following the merger of Feutune Light Acquisition Corporation and Thunder Power Holdings Limited. |
Stakeholder Impact
- Shareholders may be impacted by the changes in ownership and leadership following the merger.
- The departure of a director could lead to changes in the company's strategic direction.
Key Dates
| Date | Description |
|---|---|
| October 26, 2023 | Date of the original Agreement and Plan of Merger between FLFV and Thunder Power Holdings Limited. |
| March 19, 2024 | Date of amendment to the Merger Agreement. |
| April 5, 2024 | Date of further amendment to the Merger Agreement. |
| June 21, 2024 | Date of the earliest transaction (acquisition and disposal of shares) and the deemed execution date. |
| June 25, 2024 | Date of the report filing. |
Keywords
Form 4, Thunder Power Holdings, Wang Wenbing, Beneficial Ownership, Merger, Director, FLFV, Section 16
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