Dong Chen, through Southern Cross Acquisition I Sponsor Corp., disclosed a 21.1% stake in Southern Cross Acquisition I Corp. as reported in a Schedule 13D. The filing dated Jul. 29, 2026 reflects holdings outstanding as of Jul. 22, 2026. The position combines founder shares and units bought in a private placement tied to the company’s IPO.
Investor Intent
Chen reports the stake for investment and currently does not plan changes at Southern Cross Acquisition I Corp., including no push for board or strategy shifts. He may buy more shares, sell some, or change his approach over time, stating that he "may, at any time and from time to time, formulate other purposes, plans or proposals."
Beyond potential incremental buying, Chen says he has "no plans or proposals" for mergers, asset sales, governance changes, or delisting actions at this time. Any future steps would depend on his ongoing assessment of the company and market conditions.
Investor's Background
Dong Chen is a citizen of the People’s Republic of China and the sole shareholder and director of Southern Cross Acquisition I Sponsor Corp., a Cayman Islands exempted company. He invests through sponsor vehicles that form and capitalize special purpose acquisition companies. His role as sole owner and director gives him full voting and investment control over the sponsor’s holdings.
Original SEC Filing:
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