SCHEDULE: First Trust Entities Update HCM II Acquisition Corp. Stake

First Trust Merger Arbitrage Fund and affiliated entities updated their beneficial ownership in HCM II Acquisition Corp.'s Class A Ordinary Shares, reporting stakes below 5%.

Summary

• First Trust Merger Arbitrage Fund (VARBX) beneficially owns 959,283 Class A Ordinary Shares of HCM II Acquisition Corp., representing 4.17% 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 1,071,124 Class A Ordinary Shares, representing 4.66% of the class.
• FTCM acts as an investment adviser to various client accounts, including VARBX, and has sole voting and dispositive power over the reported shares.
• FTCS and Sub GP are control persons of FTCM and are deemed beneficial owners of the shares reported by FTCM.
• The securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing the control of the issuer.

Sentiment

Score: 5

Explanation: This is a factual ownership disclosure with no inherent positive or negative sentiment regarding the issuer's performance or outlook. It simply reports the beneficial ownership percentages of certain entities.

Future Outlook

NA

Industry Context

This filing is a routine disclosure of beneficial ownership by institutional investors, common in the financial industry for transparency regarding significant holdings in publicly traded companies. It reflects an investment firm's position in a Special Purpose Acquisition Company (SPAC) or a company that was formerly a SPAC, which is a common investment strategy for funds focused on merger arbitrage or similar event-driven strategies.

Stakeholder Impact

• Shareholders: Provides transparency regarding significant institutional holdings, confirming the ownership structure and the passive nature of these investments (not for control).

Key Dates

Keywords

HCM II Acquisition Corp., First Trust Merger Arbitrage Fund, First Trust Capital Management, Beneficial Ownership, Schedule 13G/A, Class A Ordinary Shares, Investment Adviser, SEC Filing