HDSJ FUND
The HDSJ Fund is a closed-end investment vehicle providing consolidated exposure to all 110 SJU STAC Stablecoin Acquisition Companies. The Fund offers institutional and accredited investors access to a diversified portfolio of equity units across multiple sectors, with PIPE pricing at $5.00 per unit and cash-exercise warrants at $11.00 through $15.00 strike prices.
The LXUSD ownership company (the "Sponsor") acquired equity units at a cost basis of $2.00 per unit through an initial stablecoin allocation. The HDSJ Fund PIPE offering at $5.00 per unit represents a 150% premium over the Sponsor's cost basis. The public listing price of $10.00 per unit represents a 400% premium over the Sponsor's cost basis. New investors at the listing price are paying significantly more per unit than the Sponsor. Additionally, warrant exercises at $11.00–$15.00 will result in further dilution to existing unit holders.
The HDSJ Fund recommends a Private Investment in Public Equity (PIPE) at a price of $5.00 per unit. This pricing structure is designed to provide PIPE investors with a built-in 100% upside to the $10.00 listing price while maintaining the Fund's share price stability.
| LEVEL | PRICE | PREMIUM TO SPONSOR | UPSIDE TO LIST | PARTICIPANT |
|---|---|---|---|---|
| Sponsor Basis | $2.00 | — | +400% | LXUSD Ownership Co. |
| PIPE Price | $5.00 | +150% | +100% | HDSJ Fund Investors |
| Listing Price | $10.00 | +400% | — | Public Market |
The $5.00 PIPE price provides the HDSJ Fund with a potential for upside much greater than the listing price. PIPE investors, once relieved of all restrictions, have a stronger possibility of upside. Units are acquired at a 50% discount to the listing price, creating immediate embedded value. The Fund uses PIPE proceeds to seed AMM liquidity pools and support the $10.00 listing price through market-making activity. This structure provides: (1) PIPE investors with a 2x return potential at listing; (2) the $10.00 share price is supported by real capital deployment; (3) the Fund generates management fees on the spread between PIPE acquisition and listing price; and (4) warrant exercises at $11-$15 provide additional capital inflows that further support the share price above $10.00.
The HDSJ Fund includes five tiers of cash-exercise warrants, each providing the right (but not the obligation) to purchase additional equity units at the specified strike price. Warrants are exercisable for five years from the date of listing. All warrants require full cash payment at exercise — no cashless exercise is permitted. Warrant exercises result in the issuance of new units and corresponding dilution to non-exercising holders.
| WARRANT TIER | STRIKE PRICE | TYPE | EXERCISE RATIO | EXPIRY | PREMIUM TO LIST | PURPOSE |
|---|---|---|---|---|---|---|
| W-11 | $11.00 | Cash Exercise | 1:1 | 5 Years from Listing | +10% | Near-term upside capture |
| W-12 | $12.00 | Cash Exercise | 1:1 | 5 Years from Listing | +20% | Growth-phase capital |
| W-13 | $13.00 | Cash Exercise | 1:1 | 5 Years from Listing | +30% | Expansion funding |
| W-14 | $14.00 | Cash Exercise | 1:1 | 5 Years from Listing | +40% | Scale-up capital |
| W-15 | $15.00 | Cash Exercise | 1:1 | 5 Years from Listing | +50% | Maximum upside participation |
Closed-end funds commonly include warrants as part of their capital structure for several strategic reasons: (1) Capital Formation — Warrant exercises generate additional capital that the Fund can deploy into portfolio companies, supporting growth and valuations. (2) Price Support — Cash-exercise warrants at premium strike prices ($11-$15) signal confidence in the Fund's ability to trade above its listing price, supporting market sentiment. (3) Investor Alignment — Warrants align investor interests with long-term Fund performance, as they only have value when the unit price exceeds the strike price. (4) Reduced Dilution vs. Direct Issuance — Unlike direct unit issuances, warrants only dilute existing holders when exercised at prices above the current market, ensuring dilution occurs only in positive scenarios. (5) Liquidity Enhancement — Tradeable warrants add additional instruments to the exchange, increasing overall market activity and liquidity.
| # | TICKER | ENTITY | SECTOR | BID | ASK | LXUSD | STATUS |
|---|---|---|---|---|---|---|---|
| 001 | SJU-CARBON | Series 1 — SJU Carbon | Energy | $9.95 | $10.05 | $20M | LIVE |
| 002 | SJU-DEFI | Series 2 — SJU DEFI | Digital Assets | $9.95 | $10.05 | $20M | LIVE |
| 003 | SJU-ENERGY | Series 3 — SJU Energy | Energy | $9.95 | $10.05 | $20M | LIVE |
| 004 | SJU-MARITI | Series 4 — SJU Maritime | Maritime | $9.95 | $10.05 | $20M | LIVE |
| 005 | SJU-FUELS | Series 5 — SJU Fuels | Energy | $9.95 | $10.05 | $20M | LIVE |
| 006 | SJU-LNG | Series 6 — SJU LNG | Energy | $9.95 | $10.05 | $20M | LIVE |
| 007 | SJU-TOKENS | Series 7 — SJU TokenSport | Media | $9.95 | $10.05 | $20M | LIVE |
| 008 | SJU-CRYPTO | Series 8 — SJU Crypto | Digital Assets | $9.95 | $10.05 | $20M | LIVE |
| 009 | SJU-DUBAWI | Series 9 — SJU DUBAWI | Real Estate | $9.95 | $10.05 | $20M | LIVE |
| 010 | SJU-WIGHTI | Series 10 — SJU Wight International Construction | Infrastructure | $9.95 | $10.05 | $20M | LIVE |
| 011 | MMAM | Series 11 — Marconi Marine and Media | Media | $9.95 | $10.05 | $20M | LIVE |
| 012 | PFI | Series 12 — Plane Fetch International | Aviation | $9.95 | $10.05 | $20M | LIVE |
| 013 | GL-HOSPIT | Series 13 — Global Legacy Hospitality | Hospitality | $9.95 | $10.05 | $20M | LIVE |
| 014 | GL-REITGP | Series 14 — Global Legacy REIT GP | Real Estate | $9.95 | $10.05 | $20M | LIVE |
| 015 | GL-MEDIAG | Series 15 — Global Legacy Media GP | Media | $9.95 | $10.05 | $20M | LIVE |
| 016 | TH | Series 16 — Tokenizz Holdings | Digital Assets | $9.95 | $10.05 | $20M | LIVE |
| 017 | GL-ROYALT | Series 17 — Global Legacy Royaltee Trustee | Financial Services | $9.95 | $10.05 | $20M | LIVE |
| 018 | FEG | Series 18 — Fortech EFI GP | Technology | $9.95 | $10.05 | $20M | LIVE |
| 019 | PIG | Series 19 — Panthenon II GP | Financial Services | $9.95 | $10.05 | $20M | LIVE |
| 020 | GL-COMMER | Series 20 — Global Legacy Commercial Development | Real Estate | $9.95 | $10.05 | $20M | LIVE |
| 021 | GL-HOUSIN | Series 21 — Global Legacy Housing Development | Real Estate | $9.95 | $10.05 | $20M | LIVE |
| 022 | GL-PORTDE | Series 22 — Global Legacy Port Development | Infrastructure | $9.95 | $10.05 | $20M | LIVE |
| 023 | GL-AIRPOR | Series 23 — Global Legacy Airport Development | Infrastructure | $9.95 | $10.05 | $20M | LIVE |
| 024 | GL-GRIDDE | Series 24 — Global Legacy Grid Development | Infrastructure | $9.95 | $10.05 | $20M | LIVE |
| 025 | GL-POWERP | Series 25 — Global Legacy Power Projects | Energy | $9.95 | $10.05 | $20M | LIVE |
| 026 | GL-WATERD | Series 26 — Global Legacy Water Development | Infrastructure | $9.95 | $10.05 | $20M | LIVE |
| 027 | GL-CONSUL | Series 27 — Global Legacy Consulting | Professional Services | $9.95 | $10.05 | $20M | LIVE |
| 028 | GL-PLANTA | Series 28 — Global Legacy Plantation | Agriculture | $9.95 | $10.05 | $20M | LIVE |
| 029 | GL-HEALTH | Series 29 — Global Legacy Healthcare | Healthcare | $9.95 | $10.05 | $20M | LIVE |
| 030 | GL-OIL | Series 30 — Global Legacy Oil | Energy | $9.95 | $10.05 | $20M | LIVE |
| 031 | GL-ENERGY | Series 31 — Global Legacy Energy | Energy | $9.95 | $10.05 | $20M | LIVE |
| 032 | GL-BANKIN | Series 32 — Global Legacy Banking | Financial Services | $9.95 | $10.05 | $20M | LIVE |
| 033 | GL-FINANC | Series 33 — Global Legacy Finance | Financial Services | $9.95 | $10.05 | $20M | LIVE |
| 034 | GL-TECH | Series 34 — Global Legacy Tech | Technology | $9.95 | $10.05 | $20M | LIVE |
| 035 | GL-AUTOMO | Series 35 — Global Legacy Automotive | Manufacturing | $9.95 | $10.05 | $20M | LIVE |
| 036 | GL-MANUFA | Series 36 — Global Legacy Manufacturing | Manufacturing | $9.95 | $10.05 | $20M | LIVE |
| 037 | GL-PHARMA | Series 37 — Global Legacy Pharma | Healthcare | $9.95 | $10.05 | $20M | LIVE |
| 038 | GL-INFRAS | Series 38 — Global Legacy Infrastructure | Infrastructure | $9.95 | $10.05 | $20M | LIVE |
| 039 | GL-TELECO | Series 39 — Global Legacy Telecom | Technology | $9.95 | $10.05 | $20M | LIVE |
| 040 | GL-AGRO | Series 40 — Global Legacy Agro | Agriculture | $9.95 | $10.05 | $20M | LIVE |
| 041 | GL-FOOD | Series 41 — Global Legacy Food | Consumer | $9.95 | $10.05 | $20M | LIVE |
| 042 | GL-MINING | Series 42 — Global Legacy Mining | Resources | $9.95 | $10.05 | $20M | LIVE |
| 043 | GL-METAL | Series 43 — Global Legacy Metal | Resources | $9.95 | $10.05 | $20M | LIVE |
| 044 | GL-REALES | Series 44 — Global Legacy Real Estate | Real Estate | $9.95 | $10.05 | $20M | LIVE |
| 045 | GL-CONSTR | Series 45 — Global Legacy Construction | Infrastructure | $9.95 | $10.05 | $20M | LIVE |
| 046 | GL-TRANSP | Series 46 — Global Legacy Transportation | Transportation | $9.95 | $10.05 | $20M | PEND |
| 047 | GL-SUSTAI | Series 47 — Global Legacy Sustainability | ESG | $9.95 | $10.05 | $20M | PEND |
| 048 | GL-INDUST | Series 48 — Global Legacy Industry | Manufacturing | $9.95 | $10.05 | $20M | PEND |
| 049 | GL-MATERI | Series 49 — Global Legacy Materials | Resources | $9.95 | $10.05 | $20M | PEND |
| 050 | GL-EUROPE | Series 50 — Global Legacy Europe | Regional | $9.95 | $10.05 | $20M | PEND |
| 051 | GL-VATICA | Series 51 — Global Legacy Vatican | Regional | $9.95 | $10.05 | $20M | PEND |
| 052 | GL-MONACO | Series 52 — Global Legacy Monaco | Regional | $9.95 | $10.05 | $20M | PEND |
| 053 | GL-SANMAR | Series 53 — Global Legacy San Marino | Regional | $9.95 | $10.05 | $20M | PEND |
| 054 | GL-ANDORR | Series 54 — Global Legacy Andorra | Regional | $9.95 | $10.05 | $20M | PEND |
| 055 | GL-MALTA | Series 55 — Global Legacy Malta | Regional | $9.95 | $10.05 | $20M | PEND |
| 056 | GL-LIECHT | Series 56 — Global Legacy Liechtenstein | Regional | $9.95 | $10.05 | $20M | PEND |
| 057 | GL-LUXEMB | Series 57 — Global Legacy Luxemburg | Regional | $9.95 | $10.05 | $20M | PEND |
| 058 | GL-CYPRUS | Series 58 — Global Legacy Cyprus | Regional | $9.95 | $10.05 | $20M | PEND |
| 059 | GL-MONTEN | Series 59 — Global Legacy Montenegro | Regional | $9.95 | $10.05 | $20M | PEND |
| 060 | GL-UAE | Series 60 — Global Legacy UAE | Regional | $9.95 | $10.05 | $20M | PEND |
| 061 | GL-DUBAI | Series 61 — Global Legacy Dubai | Regional | $9.95 | $10.05 | $20M | PEND |
| 062 | GL-ABUDHA | Series 62 — Global Legacy Abu Dhabi | Regional | $9.95 | $10.05 | $20M | PEND |
| 063 | GL-GIBRAL | Series 63 — Global Legacy Gibraltar | Regional | $9.95 | $10.05 | $20M | PEND |
| 064 | GL-ISLEOF | Series 64 — Global Legacy Isle of Man | Regional | $9.95 | $10.05 | $20M | PEND |
| 065 | GL-CHANNE | Series 65 — Global Legacy Channel Islands | Regional | $9.95 | $10.05 | $20M | PEND |
| 066 | GL-JERSEY | Series 66 — Global Legacy Jersey | Regional | $9.95 | $10.05 | $20M | PEND |
| 067 | GL-BVI | Series 67 — Global Legacy BVI | Regional | $9.95 | $10.05 | $20M | PEND |
| 068 | GL-AFRICA | Series 68 — Global Legacy Africa | Regional | $9.95 | $10.05 | $20M | PEND |
| 069 | GL-SOUTHA | Series 69 — Global Legacy South America | Regional | $9.95 | $10.05 | $20M | PEND |
| 070 | GL-CHINA | Series 70 — Global Legacy China | Regional | $9.95 | $10.05 | $20M | PEND |
| 071 | GL-AUSTRA | Series 71 — Global Legacy Australia | Regional | $9.95 | $10.05 | $20M | PEND |
| 072 | GL-CENTRA | Series 72 — Global Legacy Central America | Regional | $9.95 | $10.05 | $20M | PEND |
| 073 | GL-MEXICO | Series 73 — Global Legacy Mexico | Regional | $9.95 | $10.05 | $20M | PEND |
| 074 | GL-PANAMA | Series 74 — Global Legacy Panama | Regional | $9.95 | $10.05 | $20M | PEND |
| 075 | GL-COLOMB | Series 75 — Global Legacy Colombia | Regional | $9.95 | $10.05 | $20M | PEND |
| 076 | GL-BRAZIL | Series 76 — Global Legacy Brazil | Regional | $9.95 | $10.05 | $20M | PEND |
| 077 | GL-ARGENT | Series 77 — Global Legacy Argentina | Regional | $9.95 | $10.05 | $20M | PEND |
| 078 | GL-CHILE | Series 78 — Global Legacy Chile | Regional | $9.95 | $10.05 | $20M | PEND |
| 079 | GL-BOLIVI | Series 79 — Global Legacy Bolivia | Regional | $9.95 | $10.05 | $20M | PEND |
| 080 | GL-PERU | Series 80 — Global Legacy Peru | Regional | $9.95 | $10.05 | $20M | PEND |
| 081 | GL-JAMAIC | Series 81 — Global Legacy Jamaica | Regional | $9.95 | $10.05 | $20M | PEND |
| 082 | GL-CAYMAN | Series 82 — Global Legacy Cayman | Regional | $9.95 | $10.05 | $20M | PEND |
| 083 | GL-DOMINI | Series 83 — Global Legacy Dominicana | Regional | $9.95 | $10.05 | $20M | PEND |
| 084 | GL-PUERTO | Series 84 — Global Legacy Puerto Rico | Regional | $9.95 | $10.05 | $20M | PEND |
| 085 | GL-NETHER | Series 85 — Global Legacy Netherlands | Regional | $9.95 | $10.05 | $20M | PEND |
| 086 | GL-SINGAP | Series 86 — Global Legacy Singapore | Regional | $9.95 | $10.05 | $20M | PEND |
| 087 | GL-IRELAN | Series 87 — Global Legacy Ireland | Regional | $9.95 | $10.05 | $20M | PEND |
| 088 | GL-UK | Series 88 — Global Legacy UK | Regional | $9.95 | $10.05 | $20M | PEND |
| 089 | GL-HONGKO | Series 89 — Global Legacy Hong Kong | Regional | $9.95 | $10.05 | $20M | PEND |
| 090 | GL-SWITZE | Series 90 — Global Legacy Switzerland | Regional | $9.95 | $10.05 | $20M | PEND |
| 091 | GL-MARKET | Series 91 — Global Legacy Market Research | Professional Services | $9.95 | $10.05 | $20M | PEND |
| 092 | GL-COMPLI | Series 92 — Global Legacy Compliance | Professional Services | $9.95 | $10.05 | $20M | PEND |
| 093 | GL-REGULA | Series 93 — Global Legacy Regulatory Compliance | Professional Services | $9.95 | $10.05 | $20M | PEND |
| 094 | GL-BUSINE | Series 94 — Global Legacy Business Development | Professional Services | $9.95 | $10.05 | $20M | PEND |
| 095 | GL-IMPORT | Series 95 — Global Legacy Import & Export | Trade | $9.95 | $10.05 | $20M | PEND |
| 096 | GL-WAREHO | Series 96 — Global Legacy Warehousing | Logistics | $9.95 | $10.05 | $20M | PEND |
| 097 | GL-DISTRI | Series 97 — Global Legacy Distribution | Logistics | $9.95 | $10.05 | $20M | PEND |
| 098 | GL-SUPPLY | Series 98 — Global Legacy Supply Chain | Logistics | $9.95 | $10.05 | $20M | PEND |
| 099 | GL-IT | Series 99 — Global Legacy IT | Technology | $9.95 | $10.05 | $20M | PEND |
| 100 | GL-CYBERS | Series 100 — Global Legacy Cyber Security | Technology | $9.95 | $10.05 | $20M | PEND |
| 101 | GL-E-COMM | Series 101 — Global Legacy E-commerce | Technology | $9.95 | $10.05 | $20M | PEND |
| 102 | GL-IP | Series 102 — Global Legacy IP | Professional Services | $9.95 | $10.05 | $20M | PEND |
| 103 | GL-COMMUN | Series 103 — Global Legacy Communications | Media | $9.95 | $10.05 | $20M | PEND |
| 104 | GL-PRMARK | Series 104 — Global Legacy PR & Marketing | Media | $9.95 | $10.05 | $20M | PEND |
| 105 | GL-ADVERT | Series 105 — Global Legacy Advertising | Media | $9.95 | $10.05 | $20M | PEND |
| 106 | GL-ICE | Series 106 — Global Legacy ICE | Financial Services | $9.95 | $10.05 | $20M | PEND |
| 107 | GL-RECORD | Series 107 — Global Legacy Records | Media | $9.95 | $10.05 | $20M | PEND |
| 108 | GL-MOVIES | Series 108 — Global Legacy Movies | Media | $9.95 | $10.05 | $20M | PEND |
| 109 | GL-TRAVEL | Series 109 — Global Legacy Travel | Hospitality | $9.95 | $10.05 | $20M | PEND |
| 110 | GL-EURASI | Series 110 — Global Legacy Eurasia | Regional | $9.95 | $10.05 | $20M | PEND |