Form 4: Former Exec Boosts Stake in CN Healthy Food Tech Group

William J. Caragol, former Director, CFO, and COO, significantly increased his beneficial ownership in CN Healthy Food Tech Group Corp. following a business combination.

Summary

• Iron Horse Acquisition Corp. completed a business combination with Rosey Sea Holdings Limited on September 30, 2025.
• Following the business combination, Iron Horse Acquisition Corp. changed its name to CN Healthy Food Tech Group Corp. (New CFI).
• William J. Caragol's 80,000 shares of Iron Horse common stock converted into 80,000 shares of New CFI common stock on a one-for-one basis.
• Mr. Caragol acquired an additional 500,000 shares of common stock directly as consideration for providing certain post-closing services to the Issuer, pursuant to a Consulting Agreement.
• His indirect beneficial ownership includes 80,000 shares held through Bengochea SPAC Sponsors I LLC, comprising 30,000 shares for officer service and 50,000 shares from his investment.
• The closing price of the common stock on the Nasdaq Stock Market LLC on September 26, 2025, was $10.10.

Sentiment

Score: 8

Explanation: The significant increase in beneficial ownership by a former key executive, including shares received for post-closing services, indicates continued confidence and involvement with the newly formed entity, which is generally viewed positively by the market.

Positives

• William J. Caragol, a former key executive, significantly increased his beneficial ownership in the newly combined entity, signaling strong insider confidence.
• The acquisition of 500,000 shares for post-closing services indicates Mr. Caragol's continued involvement and commitment to the company's success.

Future Outlook

William J. Caragol is providing certain post-closing services to the Issuer, indicating continued operational involvement.

Industry Context

This filing reflects the finalization of a SPAC business combination, a common strategy for private companies to go public, with the resulting entity operating in the food tech industry.

Corporate Governance

Related Party Transactions

• 80,000 shares are held indirectly by Mr. Caragol through Bengochea SPAC Sponsors I LLC, which includes shares for his service as an officer and funds invested.
• Mr. Caragol received 500,000 shares of common stock as consideration for providing post-closing services to the Issuer, pursuant to a Consulting Agreement.

Stakeholder Impact

• Shareholders may view the increased insider ownership as a positive signal of management's confidence in the company's future prospects.
• The name change clarifies the company's new identity and focus post-business combination.

Next Steps

• William J. Caragol will continue to provide post-closing services to CN Healthy Food Tech Group Corp. under a Consulting Agreement.

Key Dates

Recommendation

The significant increase in beneficial ownership by a former key executive, including shares acquired for post-closing services, suggests strong insider confidence in the newly combined entity's future prospects and strategic direction, making it an attractive investment.

Keywords

CN Healthy Food Tech Group Corp., UCFI, William J. Caragol, Form 4, Beneficial Ownership, Insider Trading, Business Combination, SPAC, Rosey Sea Holdings, Equity Acquisition