SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Chafets Shmuel

(Last)

(First)

(Middle)

PO BOX 10176, GOVERNOR'S SQUARE, 23

LIME TREE BAY AVENUE

(Street)

GRAND CAYMAN

KY1-1002

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Target Global Acquisition I Corp. [ TGAA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
07/11/2023

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A ordinary shares	07/11/2023		C		100,000	A	⁽¹⁾	100,000	D
Class A ordinary shares	07/11/2023		C		5,072,415	A	⁽¹⁾	5,072,415	I	By Target Global Sponsor Ltd.⁽³⁾

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Class B ordinary shares	⁽¹⁾	07/11/2023		C			100,000	⁽¹⁾	⁽¹⁾	Class A ordinary shares	100,000	$0	0	D
Class B ordinary shares	⁽¹⁾	07/11/2023		C			5,072,415	⁽¹⁾	⁽¹⁾	Class A ordinary shares	5,072,415	$0	0⁽²⁾	I⁽²⁾	By Target Global Sponsor Ltd.⁽³⁾

Explanation of Responses:

1. On July 11, 2023, each of the Reporting Person and Target Global Sponsor Ltd., a Cayman Islands exempt company ("Sponsor"), effected an automatic conversion of Class B ordinary shares on a one-for-one basis for the same number of Class A ordinary shares. The shares do not have any expiration date.

2. The Reporting Person's prior reports included up to 750,000 Class B ordinary shares held directly by Sponsor that would be surrendered to the Issuer for no consideration by Sponsor depending on the extent to which the underwriters of the Issuer's initial public offering exercised their over-allotment option. On December 29, 2021, Sponsor forfeited and surrendered 377,585 Class B ordinary shares as a result of underwriter's partial exercise of its over-allotment option.

3. Sponsor is the sponsor of the Issuer. Sponsor is controlled by Shmuel Chafets and Yaron Valler, who have voting and investment discretion in respect of the ordinary shares held by Sponsor and may be deemed to have shared beneficial ownership of such ordinary shares. Each of Shmuel Chafets and Yaron Valler disclaims beneficial ownership of the shares held by Sponsor except to the extent of his pecuniary interest therein, directly or indirectly.

	/s/ Shmuel Chafets	08/07/2023
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
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