Sec Form 13G Filing - Pearl Holdings Sponsor LLC filing for Pearl Holdings Acquisition Corp (PRLH) - 2022-02-10

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13G

 

(Amendment No. )*

 

Under the Securities Exchange Act of 1934

 

Pearl Holdings Acquisition Corp

(Name of Issuer)

 

Class A Ordinary Shares, par value $0.0001 per share

(Titles of Class of Securities)

 

G44525 106

(CUSIP Number)

 

December 31, 2021

(Date of Event Which Requires Filing of this Statement)

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

☐

Rule 13d-1(b)

☐

Rule 13d-1(c)

 

☒

Rule 13d-1(d)

 

*

The remainder of this cover page shall be filled out of a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

 

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

1		NAME OF REPORTING PERSON Pearl Holdings Sponsor LLC
2		CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐ (b) ☐
3		SEC USE ONLY
4		CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:		5		SOLE VOTING POWER 0
		6		SHARED VOTING POWER 5,000,000 (1)
		7		SOLE DISPOSITIVE POWER 0
		8		SHARED DISPOSITIVE POWER 5,000,000 (1)

9		AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,000,000 (1)
10		CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ☐
11		PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 20% (2)
12		TYPE OF REPORTING PERSON OO

 

(1)

Reflects 5,000,000 Class A ordinary shares of Pearl Holdings Acquisition Corp (the “Company”), par value $0.0001 per share (“Class A Ordinary Shares”), issuable upon conversion of 5,000,000 Class B ordinary shares of the Company, par value $0.0001 per share (“Class B Ordinary Shares”). The Class B Ordinary Shares will automatically convert into Class A Ordinary Shares at the time of the Company’s initial business combination, or earlier at the option of the holder, on a one-for-one basis, subject to adjustment. Pearl Holdings Sponsor LLC (the “Sponsor”) is the record holder of the shares reported herein. The Sponsor is managed by Craig E. Barnett. Mr. Barnett may be deemed to beneficially own shares held by the Sponsor by virtue of his control over the Sponsor. As such, Mr. Barnett may be deemed to have or share beneficial ownership of the Class B Ordinary Shares held directly by the Sponsor.

 

(2)

The calculation assumes that there is a total of 25,000,000 Class A Ordinary Shares outstanding, which is the sum of (i) the 20,000,000 Class A Ordinary Shares outstanding as of December 23, 2021, as reported in the Company’s Prospectus filed pursuant to Rule 424(b)(4) with the Securities and Exchange Commission on December 16, 2021 (the “Prospectus”), and the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on December 23, 2021 (the “Report”), after giving effect to the completion of the offering and the partial exercise of the underwriters’ over-allotment option, all as described therein, and (ii) the 5,000,000 Class A Ordinary Shares issuable upon conversion of the Class B Ordinary Shares held by the Sponsor, as reported herein.

 

 

1		NAME OF REPORTING PERSON Craig E. Barnett
2		CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐ (b) ☐
3		SEC USE ONLY
4		CITIZENSHIP OR PLACE OF ORGANIZATION United States

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:		5		SOLE VOTING POWER 0
		6		SHARED VOTING POWER 5,000,000 (1)
		7		SOLE DISPOSITIVE POWER 0
		8		SHARED DISPOSITIVE POWER 5,000,000 (1)

9		AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,000,000 (1)
10		CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ☐
11		PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 20% (2)
12		TYPE OF REPORTING PERSON IN

 

(1)

Reflects 5,000,000 Class A Ordinary Shares issuable upon conversion of 5,000,000 Class B Ordinary Shares. The Class B Ordinary Shares will automatically convert into Class A Ordinary Shares at the time of the Company’s initial business combination, or earlier at the option of the holder, on a one-for-one basis, subject to adjustment.The Sponsor is the record holder of the shares reported herein. The Sponsor is managed by Craig E. Barnett. Mr. Barnett may be deemed to beneficially own shares held by the Sponsor by virtue of his control over the Sponsor. As such, Mr. Barnett may be deemed to have or share beneficial ownership of the Class B Ordinary Shares held directly by the Sponsor.

 

(2)

The calculation assumes that there is a total of 25,000,000 Class A Ordinary Shares outstanding, which is the sum of (i) the 20,000,000 Class A Ordinary Shares outstanding as of December 23, 2021, as reported in the Prospectus and the Report, after giving effect to the completion of the offering and the partial exercise of the underwriters’ over-allotment option, all as described therein, and (ii) the 5,000,000 Class A Ordinary Shares issuable upon conversion of the Class B Ordinary Shares held by the Sponsor, as reported herein.

 

 

Item 1(a). Name of Issuer:

 

Pearl Holdings Acquisition Corp

 

Item 1(b). Address of Issuer’s Principal Executive Offices:

 

767 Third Avenue, 11th Floor, New York, NY 10017

 

Item 2(a). Name of Person Filing:

 

This statement is being filed jointly pursuant to §240.13d-1(k)(1) on behalf of each of the following persons (collectively, the “Reporting Persons”):

 

1.

Pearl Holdings Sponsor LLC

 

2.

Craig E. Barnett

 

Item 2(b). Address of Principal Business Office or, if none, Residence:

 

The principal business address of each of the Reporting Persons is as follows:

 

767 Third Avenue, 11th Floor, New York, NY 10017

 

Item 2(c). Citizenship:

 

See responses to Item 4 on each cover page.

 

Item 2(d). Titles of Classes of Securities:

 

Class A Ordinary Shares, par value $0.0001 per share

 

Item 2(e). CUSIP Number:

 

The Class A Ordinary Shares CUSIP Number is G44525 106.

 

Item 3. If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

		(a)		☐		Broker or dealer registered under Section 15 of the Exchange Act (15 U.S.C. 78o).
		(b)		☐		Bank as defined in Section 3(a)(6) of the Exchange Act (15 U.S.C. 78c).
		(c)		☐		Insurance company as defined in Section 3(a)(19) of the Exchange Act (15 U.S.C. 78c).
		(d)		☐		Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).
		(e)		☐		Investment adviser in accordance with §240.13d-1(b)(1)(ii)(E).
		(f)		☐		Employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F).
		(g)		☐		Parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G).

		(h)		☐		Savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813).
		(i)		☐		Church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3).
		(j)		☐		Non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J).
		(k)		☐		Group in accordance with §240.13d-1(b)(1)(ii)(K).

 

If filing as a non-U.S. institution in accordance with §240. 13d-1(b)(1)(ii)(J), please specify the type of institution: ______________ .

 

 

Item 4. Ownership

 

(a) Amount beneficially owned:

 

See responses to Item 9 on each cover page.

 

(b) Percent of class:

 

See responses to Item 11 on each cover page.

 

(c) Number of shares as to which such person has:

 

(i) Sole power to vote or to direct the vote:

 

See responses to Item 5 on each cover page.

 

(ii) Shared power to vote or to direct the vote:

 

See responses to Item 6 on each cover page.

 

(iii) Sole power to dispose or to direct the disposition of:

 

See responses to Item 7 on each cover page.

 

(iv) Shared power to dispose or to direct the disposition of:

 

See responses to Item 8 on each cover page.

 

Item 5. Ownership of Five Percent or Less of a Class.

 

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following ☐.

 

Item 6. Ownership of More than Five Percent on Behalf of Another Person.

 

None.

  

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company.

 

Not Applicable.

 

Item 8. Identification and Classification of Members of the Group.

 

Not Applicable.

 

Item 9. Notice of Dissolution of Group.

 

Not Applicable.

 

Item 10. Certification.

 

Not Applicable.

 

 

SIGNATURE

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Dated: February 10, 2022

	Pearl Holdings Sponsor LLC
	By:	/s/ Craig E. Barnett
	Name:	Craig E. Barnett
	Title:	Manager
	/s/ Craig E. Barnett
	Craig E. Barnett

 

 

Exhibit Index

 

Exhibit 1

Agreement of Joint Filing as required by Rule 13d-1(k)(1) under the Act.