SCHEDULE: Magnetar Funds Disclose 6.07% Stake in HCM II

Magnetar Financial LLC and its affiliates reported a beneficial ownership of 6.07% in HCM II Acquisition Corp.'s Class A ordinary shares as of June 30, 2025.

Summary

• Magnetar Financial LLC, Magnetar Capital Partners LP, Supernova Management LLC, and David J. Snyderman collectively reported beneficial ownership of 1,397,166 Class A ordinary shares of HCM II Acquisition Corp.
• This ownership represents approximately 6.07% of the total outstanding Class A ordinary shares of HCM II Acquisition Corp., based on approximately 23,000,000 shares outstanding as reported by the Issuer in its Form 10-Q filed on May 20, 2025.
• The shares are held across several Magnetar Funds, including Constellation Master Fund (324,605 shares), Magnetar Lake Credit Fund LLC (239,923 shares), Magnetar Structured Credit Fund, LP (225,804 shares), Magnetar Xing He Master Fund Ltd (211,688 shares), Magnetar Alpha Star Fund LLC (141,128 shares), Purpose Alternative Credit Fund Ltd (127,001 shares), Magnetar SC Fund Ltd (98,787 shares), and Purpose Alternative Credit Fund T LLC (28,224 shares).
• The reporting persons have shared voting and shared dispositive power over all 1,397,166 shares.
• The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer.

Sentiment

Score: 5

Explanation: The filing is a factual disclosure of beneficial ownership, indicating a neutral sentiment. It does not contain positive or negative operational or financial news about the issuer.

Positives

• A significant institutional ownership stake by Magnetar Financial, a prominent investment firm, may signal confidence in HCM II Acquisition Corp.'s prospects.

Negatives

• This filing is a disclosure of ownership and does not contain specific negatives related to HCM II Acquisition Corp.'s operational or financial performance.

Risks

• This filing is a beneficial ownership report and does not detail specific risks related to HCM II Acquisition Corp.'s business operations or financial health. The primary risk disclosed is the concentration of ownership by the reporting entities.

Future Outlook

NA

Management Comments

• The securities 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 Rule 14a-11.

Industry Context

This filing indicates a significant investment by Magnetar Financial, a prominent investment firm, in a Special Purpose Acquisition Company (SPAC), HCM II Acquisition Corp. Such investments are common in the SPAC market as institutional investors take positions in companies seeking to complete a business combination.

Stakeholder Impact

• Shareholders: The disclosure of a significant 6.07% stake by a prominent investment firm like Magnetar could be viewed positively by other shareholders, signaling institutional confidence or interest in HCM II Acquisition Corp.

Key Dates

Keywords

HCM II Acquisition Corp, Magnetar Financial, Schedule 13G, Beneficial Ownership, Class A ordinary shares, Investment Fund, SEC Filing, SPAC