Knorex (KNRX) CEO details initial share and warrant stakes
Filing Impact
Filing Sentiment
Form Type
3
Rhea-AI Filing Summary
KNOREX LTD. chairman and CEO Choo Khar Heng filed an initial ownership report showing significant holdings in both voting shares and warrants. He directly owns 3,082,100 Class B Ordinary Shares, each convertible into one Class A Ordinary Share at any time with no expiration, and 342,450 Class A Ordinary Shares.
In addition, his mother holds 95,225 Class A Ordinary Shares and several warrant positions over Class A shares, including warrants over 14,175 and 45,800 shares at an exercise price of $2.074, 1,425 shares at $2.03, and 76,150-share tranches at $1.497 with different expirations. These warrants are exercisable only in the final three months of their term and are subject to anti-dilution adjustments. Choo Khar Heng disclaims beneficial ownership of securities held by his mother except to the extent of his pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
8 transactions reported
Mixed
8 txns
Insider
Choo Khar Heng
Role
Chairman and CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Class B Ordinary Shares | -- | -- | -- |
| holding | Warrants | -- | -- | -- |
| holding | Warrants | -- | -- | -- |
| holding | Warrants | -- | -- | -- |
| holding | Warrants | -- | -- | -- |
| holding | Warrants | -- | -- | -- |
| holding | Class A Ordinary Shares | -- | -- | -- |
| holding | Class A Ordinary Shares | -- | -- | -- |
Holdings After Transaction:
Class B Ordinary Shares — 3,082,100 shares (Direct);
Warrants — 14,175 shares (Indirect, By mother);
Class A Ordinary Shares — 342,450 shares (Direct);
Class A Ordinary Shares — 95,225 shares (Indirect, By mother)
Footnotes (1)
- The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose. Each Class B Ordinary Share is convertible into one Class A Ordinary Share of the issuer at any time, at the holder's election, and has no expiration date. Represents warrants issued by a subsidiary of the Issuer in 2023, prior to the Issuer's reorganization and IPO in September 2025. The warrants were reissued in exchange for cancellation of the prior subsidiary warrants in connection with the pre-IPO reorganization. The warrants are blended American/European style options that can only be exercised in the final three months of their term, prior to expiry. The number of shares underlying the warrants is subject to adjustment for certain dilutive events such as, among other things, subdivision, reclassification, redenomination, conversion or consolidation of securities, capitalization, capital distribution, and rights issues. No fractional shares will be issued upon exercise of the warrants.
FAQ
What indirect KNOREX (KNRX) holdings are attributed to Choo Khar Heng’s mother?
The filing shows his mother holds 95,225 Class A Ordinary Shares and several warrant positions over Class A shares. These include tranches over 14,175, 45,800, 1,425 and 76,150-share blocks at exercise prices between $1.497 and $2.074, with varying expiration dates.
How do the KNOREX (KNRX) warrants disclosed in the Form 3 work?
The warrants were issued in connection with a pre-IPO reorganization and are blended American/European style options. They can only be exercised in the final three months of their term, are subject to anti-dilution adjustments for certain corporate actions, and do not permit issuance of fractional shares.
Does Choo Khar Heng fully own the KNOREX (KNRX) securities held by his mother?
No. The Form 3 states that Choo Khar Heng disclaims beneficial ownership of securities held by his mother, except to the extent of his pecuniary interest. This means those indirect positions are associated with him but are not treated as fully his for ownership purposes.
Are there any buy or sell transactions in this KNOREX (KNRX) Form 3 filing?
The Form 3 functions as an initial ownership report and does not show open-market buy or sell transactions. Instead, it lists existing holdings of Class A and Class B Ordinary Shares and several warrant positions, providing a baseline of the chairman’s and his mother’s reported interests.