Yu Peizhong has reported a significant change in his shareholding in Southern Cross Acquisition II Corp. On November 4, 2026, he filed a Form 4 with the SEC detailing the forfeiture of 324,123 ordinary shares. This forfeiture occurred on November 2, 2026, and is linked to the underwriter's partial exercise of its over-allotment option. Such changes in shareholding can influence the company’s capital structure and investor perception.

Background

Southern Cross Acquisition II Corp. is a company classified under the blank checks sector. It is incorporated in the Cayman Islands and primarily engages in capital raising through public offerings. The company’s address is 1412 Broadway, 21st Floor, Suite 21V, New York, NY 10018. Yu Peizhong, who is also a significant stakeholder, has been involved in the company’s operations and decisions.

What the Filing Says

According to the filing, the forfeiture was executed without consideration due to the underwriter's actions. The filing states, "On November 2, 2026, 324,123 ordinary shares of the Issuer held by the Sponsor were forfeited without consideration following the underwriter's partial exercise of its over-allotment option." This indicates a strategic adjustment in the company’s share distribution.

Impact

This forfeiture may affect the ownership dynamics within Southern Cross Acquisition II Corp. Yu Peizhong, as the sole member and director of the Sponsor, retains significant voting and investment power over the remaining shares. The event may also influence investor sentiment in the blank checks sector, as adjustments in shareholding can lead to changes in market confidence.

What's Next

The filing does not say what happens next.