SCHEDULE 13G/A: Wolverine Entities Disclose 5.19% Stake in AlphaVest Acquisition Corp.
Beneficial Ownership Disclosure
Wolverine Asset Management LLC and affiliated entities have disclosed a 5.19% beneficial ownership stake in AlphaVest Acquisition Corp., holding 200,000 ordinary shares as of December 31, 2024.
Summary
- Wolverine Asset Management LLC, along with Wolverine Trading Partners, Inc., Wolverine Holdings, L.P., Christopher L. Gust, and Robert R. Bellick, collectively reported beneficial ownership of 200,000 ordinary shares of AlphaVest Acquisition Corp.
- This ownership represents 5.19% of the issuer's outstanding ordinary shares.
- The percentage was calculated based on 3,854,856 ordinary shares outstanding as of November 19, 2024, adjusted for shares redeemed at a shareholder meeting on December 18, 2024, as reported in an 8-K filed December 19, 2024.
- The shares are held with shared voting and shared dispositive power among the reporting persons.
- The acquisition and holding of these securities are stated to be in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership, which is neutral in sentiment. It indicates a significant stake by an institutional investor, which could be seen as mildly positive, but the filing itself is purely informational.
Positives
- A significant institutional investor group, Wolverine Asset Management and its affiliates, has taken a substantial stake, indicating potential confidence in AlphaVest Acquisition Corp.
- The holding is stated to be in the ordinary course of business, suggesting a passive investment rather than an activist intent to disrupt operations.
Future Outlook
The document does not provide any forward-looking statements or guidance regarding AlphaVest Acquisition Corp.'s future performance or strategic direction.
Industry Context
This filing indicates a significant passive investment by a prominent asset management group in a Special Purpose Acquisition Company (SPAC), AlphaVest Acquisition Corp. Such disclosures are routine for institutional investors crossing the 5% ownership threshold and do not inherently signal broader industry trends beyond general investment activity in the SPAC sector.
Related Party Transactions
- Wolverine Flagship Fund Trading Limited is identified as having the right to receive dividends or proceeds from the sale of the 200,000 shares beneficially owned by Wolverine Asset Management LLC and its affiliates.
Stakeholder Impact
- Shareholders: The disclosure of a significant institutional stake by Wolverine Asset Management and its affiliates may provide a degree of confidence or stability, as it indicates a notable investor's position in the company.
Key Dates
| Date | Description |
|---|---|
| 2024-09-30 | Date of Issuer's Form 10-Q, which reported the number of Ordinary Shares as of November 19, 2024. |
| 2024-11-19 | Date as of which 3,854,856 Ordinary Shares were reported outstanding in the Issuer's Form 10-Q for September 30, 2024. |
| 2024-12-18 | Date of shareholder meeting where shares were redeemed, as reported in an 8-K filed December 19, 2024. |
| 2024-12-19 | Date of 8-K filing reporting share redemptions from the December 18, 2024 shareholder meeting. |
| 2024-12-31 | Date of event which requires filing of this statement (beneficial ownership calculation date). |
| 2025-01-28 | Date of filing of this Schedule 13G Amendment No. 1. |
Keywords
AlphaVest Acquisition Corp., Wolverine Asset Management, Schedule 13G, Beneficial Ownership, Ordinary Shares, Investment Adviser, Institutional Investor, SEC Filing, Equity Stake, Public Company
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