SCHEDULE 13G/A: First Trust Entities Disclose Significant Passive Stakes in Black Hawk Acquisition Corp

First Trust Merger Arbitrage Fund and affiliated entities, First Trust Capital Management L.P., First Trust Capital Solutions L.P., and FTCS Sub GP LLC, have disclosed beneficial ownership stakes of 6.84% and 8.91% respectively in Black Hawk Acquisition Corp's Class A Ordinary Shares as of December 31, 2024.

Summary

• First Trust Merger Arbitrage Fund (VARBX) beneficially owns 611,000 Class A Ordinary Shares of Black Hawk Acquisition Corp, representing 6.84% of the class.
• First Trust Capital Management L.P. (FTCM), First Trust Capital Solutions L.P. (FTCS), and FTCS Sub GP LLC (Sub GP) collectively beneficially own 796,020 Class A Ordinary Shares, representing 8.91% of the class.
• FTCM serves as an investment adviser to VARBX and other client accounts, holding sole voting and dispositive power over the reported shares.
• FTCS and Sub GP are identified as control persons of FTCM and are therefore deemed beneficial owners of the shares reported by FTCM.
• The shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Black Hawk Acquisition Corp.

Sentiment

Score: 6

Explanation: The filing indicates significant beneficial ownership by institutional investment entities, which can be viewed as a positive signal of confidence in the issuer, Black Hawk Acquisition Corp. However, as a routine ownership disclosure, it does not contain performance or strategic updates.

Positives

• Significant beneficial ownership by institutional investment entities like First Trust can signal confidence in the issuer, Black Hawk Acquisition Corp.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."

Key Dates

Keywords

Black Hawk Acquisition Corp, First Trust Merger Arbitrage Fund, First Trust Capital Management, First Trust Capital Solutions, FTCS Sub GP LLC, Schedule 13G/A, Beneficial Ownership, Class A Ordinary Shares, SEC Filing, Investment Adviser, Institutional Investor