SCHEDULE 13G/A: Bellevue Life Sciences Acquisition Corp. Sponsor Group Affirms Majority Stake in Amended SEC Filing

An amended Schedule 13G filing confirms that Bellevue Global Life Science Investors, LLC, BCM Europe AG, Bellevue Capital Management LLC, and Kuk Hyoun Hwang collectively maintain significant beneficial ownership in Bellevue Life Sciences Acquisition Corp.

Summary

• Bellevue Global Life Science Investors, LLC, the sponsor of Bellevue Life Sciences Acquisition Corp., beneficially owns 1,355,000 shares, representing 58.4% of the common stock outstanding as of December 31, 2024.
• BCM Europe AG beneficially owns 680,000 shares, representing 29.3% of the common stock, stemming from private placement units and shares convertible via a promissory note with the Sponsor.
• Bellevue Capital Management LLC, the general partner of the Sponsor and parent of BCME, beneficially owns 2,035,000 shares, accounting for 87.7% of the common stock.
• Kuk Hyoun Hwang, as the managing member of Bellevue Capital Management LLC, also beneficially owns 2,035,000 shares, representing 87.7% of the common stock, exercising voting and dispositive power over the shares held by the Sponsor and BCME.
• The total shares outstanding for Bellevue Life Sciences Acquisition Corp. as of December 31, 2024, were 2,319,752.
• The Sponsor's holdings include 34,500 shares held in escrow for the benefit of Chardan Capital Markets, LLC.
• The promissory note between the Sponsor and BCME is convertible into 310,000 private placement units, 370,000 founder shares, and 60,000 warrants.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership and does not contain information that would inherently indicate positive or negative sentiment regarding the company's performance or prospects. It is a routine regulatory update.

Future Outlook

NA

Industry Context

This filing is a routine amendment (Schedule 13G/A) for a Special Purpose Acquisition Company (SPAC), Bellevue Life Sciences Acquisition Corp. It details the beneficial ownership of the company's sponsor group, which is typical for SPACs where the sponsor maintains a significant controlling stake to facilitate the eventual business combination. The high percentage of ownership by the sponsor and its affiliates is standard for a SPAC in its pre-merger phase, indicating consolidated control over the company's direction.

Comparison to Industry Standards

• The combined beneficial ownership of 87.7% by Bellevue Capital Management LLC and Kuk Hyoun Hwang is consistent with, and even higher than, typical sponsor control in SPACs, where sponsors often hold a substantial majority of the equity, particularly founder shares and private placement units, to ensure control over the acquisition process.
• The structure involving a promissory note convertible into private placement units, founder shares, and warrants is a common mechanism used by SPAC sponsors to capitalize the entity and align incentives.

Related Party Transactions

• A promissory note exists between Bellevue Global Life Science Investors, LLC (the Sponsor) and BCM Europe AG (BCME), where BCME is a wholly-owned subsidiary of Bellevue Capital Management LLC, which is the general partner of the Sponsor. This note allows for the conversion of certain shares and warrants, representing a transaction between related entities within the sponsor group.

Stakeholder Impact

• Shareholders: Provides clarity on the concentrated ownership structure and control held by the sponsor group, which is typical for a SPAC and impacts voting power and strategic decisions.

Key Dates

Keywords

Bellevue Life Sciences Acquisition Corp., Schedule 13G/A, Beneficial Ownership, SPAC, Special Purpose Acquisition Company, Bellevue Global Life Science Investors, BCM Europe AG, Bellevue Capital Management, Kuk Hyoun Hwang, Common Stock, SEC Filing, Corporate Governance