West Enclave Sponsor LLC and senior executives report owning 2,603,333 ordinary shares of West Enclave Merger Corp., representing 16.2% of the company. These shares stem from founder shares and private placement units acquired around the special purpose acquisition company’s IPO.
The issuer sold 3,833,333 founder shares to the Sponsor for $25,000 and later conducted an IPO with additional units and an over-allotment option. The Sponsor and related parties entered into lock-up, escrow and registration rights agreements that restrict transfers and govern future registration of their securities, while they help lead the search for a business combination target.
West Enclave Merger Corp. has completed its SPAC IPO and related financings, raising public and private capital and funding a dedicated trust for a future business combination. The company sold 10,000,000 units at $10.00 each, plus 1,500,000 over-allotment units, and deposited $116,150,000 in a trust account for public shareholders. Each unit includes one ordinary share and one right to receive one-tenth of an ordinary share upon a successful merger, and public shareholders will have redemption rights tied to the trust value. The filing also shows a clean audited balance sheet and explains the 21‑month window to complete a business combination or return trust funds.
West Enclave Sponsor LLC, the sponsor of West Enclave Merger Corp., bought 22,500 ordinary shares tied to its SPAC sponsorship. The purchase reflects 22,500 “Private Units” acquired in a private placement at $10.00 per unit, for a total of $225,000.
Each Private Unit includes one ordinary share and one right to receive one-tenth of an ordinary share upon completion of an initial business combination. After this transaction, the Sponsor holds 2,603,333 ordinary shares directly. Individuals Emilio Mahuad and Adrian Otero are indirect holders through their control of the Sponsor and each disclaims beneficial ownership beyond his pecuniary interest.
West Enclave Sponsor LLC, an entity controlled by Emilio Mahuad and Adrian Otero, acquired 22,500 units of West Enclave Merger Corp. in a private placement. Each unit was purchased at $10.00 for an aggregate of $225,000 and includes one ordinary share and one right. The Form 4 reports the 22,500 ordinary shares included in these Private Units as indirectly owned by Mr. Mahuad, bringing his reported indirect holdings to 2,603,333 ordinary shares, while he disclaims beneficial ownership beyond his pecuniary interest.
West Enclave Merger Corp. reported an indirect open-market purchase tied to its sponsor entity. On May 6, 2026, West Enclave Sponsor LLC acquired 22,500 private placement units at $10.00 per unit for an aggregate $225,000. Each Private Unit includes one ordinary share and one right to receive one-tenth of an ordinary share upon completion of an initial business combination.
The 22,500 ordinary shares within these Private Units are reported as indirectly owned by co-chief executive officer and director Adrian Otero through the sponsor. Following this transaction, indirect holdings reported for him total 2,603,333 ordinary shares. Mr. Otero disclaims beneficial ownership of sponsor-held shares except to the extent of his pecuniary interest.
West Enclave Merger Corp. completed its initial public offering of 10,000,000 units at $10.00 per unit, raising gross proceeds of $100,000,000, and completed a concurrent private placement of 425,000 units for an additional $4,250,000.
A total of $101,000,000 from the IPO and private placement was placed in a trust account for the benefit of public shareholders, to be used upon a business combination or returned if no deal is completed within 21 months. The company adopted amended articles authorizing up to 200,000,000 ordinary shares and 1,000,000 preference shares and finalized its board, positioning the SPAC to seek a business combination focused on opportunities linked to Latin America, particularly Mexico.
West Enclave Sponsor LLC, a major shareholder of West Enclave Merger Corp., reported both sales and purchases of ordinary shares. On the reported date, the Sponsor sold 1,380,000 ordinary shares in open-market or private transactions and separately bought 127,500 ordinary shares.
After these transactions, the Sponsor held 3,960,833 ordinary shares. The 127,500 purchased shares are the ordinary shares included in Private Units that the Sponsor acquired at $10.00 per unit in a private placement completed alongside the company’s initial public offering.
West Enclave Merger Corp. director and Co-Chief Executive Officer Adrian Otero reported mixed indirect transactions in the company’s ordinary shares through West Enclave Sponsor LLC. An entity controlled by Otero and a colleague sold 1,380,000 ordinary shares and purchased 127,500 ordinary shares, all held indirectly.
The filing indicates the 127,500 shares are the ordinary shares included in previously acquired private placement units. After these transactions, the reported indirect holdings in ordinary shares rose to 3,960,833. Footnotes state the securities are held directly by the Sponsor, and each controller disclaims beneficial ownership except for any pecuniary interest.
West Enclave Sponsor LLC, an entity controlled by director and officer Emilio Mahuad, reported both sales and purchases of West Enclave Merger Corp. ordinary shares on May 1, 2026, resulting in a net disposition of 1,252,500 shares held indirectly. The sponsor transferred 1,380,000 founder shares for aggregate consideration of about $9,000, or roughly $0.0065 per share127,500 Private Units at $10.00 per unit for a total of $1,275,000; each unit includes one ordinary share and a right to receive one‑tenth of an ordinary share upon completion of an initial business combination. Following these transactions, indirect holdings reported for the sponsor increased to 3,960,833 ordinary shares, with Mahuad and co-manager Adrian Otero disclaiming beneficial ownership beyond their pecuniary interests.
West Enclave Merger Corp. reported that Actinver Inversiones Alternativas, S.A. DE C.V. acquired interests in a total of 180,000 ordinary shares associated with director Hector Madero Rivero. Actinver bought 20,000 private units at $10.00 per unit in a private placement, with each unit containing one ordinary share and a right to additional shares after a business combination.
In addition, West Enclave Sponsor LLC transferred 160,000 founder shares to Actinver for aggregate consideration of about $1,043.48. Actinver is the record holder of these shares. Mr. Madero, as Chairman of Actinver, controls its management but disclaims beneficial ownership except to the extent of his pecuniary interest.