SPAC Sponsor and Executives Disclose 21% Foundational Stake Post-IPO

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This Schedule 13D filing formally discloses the significant beneficial ownership of IRHO SPAC SPONSOR LLC and its managing members, Jose Bengochea (CEO and Chairman) and William Caragol (CFO and Director), following the company's initial public offering. Their combined 21% stake, valued at over $61 million, represents a substantial controlling interest in the SPAC. The disclosure of founder shares acquired at a nominal price and private placement units purchased at the IPO price, coupled with lock-up agreements, signals a strong alignment of interests between the sponsor, key executives, and future shareholders, which is a critical aspect for a SPAC's long-term strategy and eventual business combination.

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• Significant Ownership Stake

  IRHO SPAC SPONSOR LLC, along with its managing members Jose Bengochea (CEO and Chairman) and William Caragol (CFO and Director), collectively beneficially own 6,120,000 ordinary shares, representing 21% of the company's outstanding shares.

• Foundational Share Acquisition

  The stake includes 5,750,000 founder shares acquired for a nominal price of $32,000 in September 2025, and 370,000 ordinary shares underlying private placement units purchased at $10.00 per unit simultaneously with the IPO closing on December 18, 2025.

• Lock-Up Agreements in Place

  The reporting persons are subject to lock-up agreements, restricting the transfer of founder shares for 180 days post-business combination (with certain performance-based early release conditions) and private placement units for 30 days post-business combination, demonstrating a long-term commitment.

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This Schedule 13D filing formally discloses the significant beneficial ownership of IRHO SPAC SPONSOR LLC and its managing members, Jose Bengochea (CEO and Chairman) and William Caragol (CFO and Director), following the company's initial public offering. Their combined 21% stake, valued at over $61 million, represents a substantial controlling interest in the SPAC. The disclosure of founder shares acquired at a nominal price and private placement units purchased at the IPO price, coupled with lock-up agreements, signals a strong alignment of interests between the sponsor, key executives, and future shareholders, which is a critical aspect for a SPAC's long-term strategy and eventual business combination.