Major owner of Lakeshore Acquisition I Corp. just disposed of 258,000 shares

Investment Ltd Redone, a major owner of Lakeshore Acquisition I Corp., recently disposed of 258,000 shares of the company. The disposals took place at $0.00 per share, on July 23, 2021. Redone still owns 664,378 shares of the company. Redone operates out of Shanghai, F4. Some additional info was provided as follows:


Includes founder shares issued in connection with the initial public offering (the "IPO") of Lakeshore Acquisition I Corp. (the "Company").
Simultaneously with the consummation of the Company's IPO, RedOne Investment Limited (the "Sponsor") acquired 121,709 units in a private placement (including in connection with the exercise of the underwriters' over-allotment option) (the "Private Units"). Each Private Unit consists of one ordinary share of the Company, par value $0.0001, and three-quarters of one warrant to purchase one ordinary share at an exercise price of $11.50 per share (the "Warrants"). The Private Units were purchased for $10.00 per unit.
On July 23,2021, the Sponsor made a pro-rata, in-kind distribution of 258,000 ordinary shares to its members.
The Warrants will become exercisable at any time commencing 30 days after the completion of the Company's initial business combination.
The Warrants will expire five years after the completion of the Company's initial business combination, at 5:00 p.m., New York City time, or earlier upon redemption or liquidation.

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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