SCHEDULE: Tenor Capital Management Discloses 5.2% Stake in LightWave Acquisition Corp.

Tenor Capital Management Company, L.P., Tenor Opportunity Master Fund, Ltd., and Robin Shah have jointly disclosed a 5.2% beneficial ownership stake in LightWave Acquisition Corp.'s Class A ordinary shares.

Summary

• Reporting persons Tenor Capital Management Company, L.P., Tenor Opportunity Master Fund, Ltd., and Robin Shah have jointly filed a Schedule 13G.
• The reporting persons beneficially own 1,000,000 Class A ordinary shares of LightWave Acquisition Corp.
• This ownership represents 5.2% of the Class A ordinary shares outstanding.
• The shares are held in the form of Units, with each Unit consisting of one Class A ordinary share and one-half of one redeemable warrant.
• Tenor Opportunity Master Fund, Ltd. directly holds the Units, with Tenor Capital Management Company, L.P. serving as its investment manager.
• Robin Shah serves as the managing member of Tenor Management GP, LLC, the general partner of Tenor Capital Management Company, L.P.
• The reporting persons are deemed to have shared voting and dispositive power over the shares.
• The 5.2% ownership percentage is calculated based on 19,300,000 Units issued and outstanding, as stated in LightWave Acquisition Corp.'s Prospectus filed with the SEC on June 26, 2025.

Sentiment

Score: 7

Explanation: The disclosure of a significant 5.2% stake by an institutional investor like Tenor Capital Management is generally viewed positively as it indicates confidence and interest in LightWave Acquisition Corp.

Positives

• Significant institutional investment by Tenor Capital Management, indicating confidence in LightWave Acquisition Corp.
• The acquisition of a 5.2% stake suggests a notable and strategic position in the company.

Negatives

• No specific negatives for LightWave Acquisition Corp. are indicated in this ownership disclosure.

Risks

• The reporting persons disclaim beneficial ownership of the shares except to the extent of their pecuniary interest therein.
• The securities were not acquired and are not held for the purpose or with the effect of changing or influencing the control of the issuer, nor in connection with any transaction having that purpose or effect, other than activities solely in connection with a nomination under Rule 14a-11.

Future Outlook

No forward-looking statements or guidance from LightWave Acquisition Corp. are provided in this ownership disclosure.

Management Comments

• Robin Shah, managing member of Tenor Management GP, LLC and authorized signatory for Tenor Opportunity Master Fund, Ltd., certified that the information is true, complete, and correct, and that the securities were not acquired for the purpose of changing or influencing control of the issuer.

Industry Context

This Schedule 13G filing is a standard regulatory disclosure for institutional investors like Tenor Capital Management when their beneficial ownership in a public company exceeds 5%. For LightWave Acquisition Corp., a Special Purpose Acquisition Company (SPAC), such filings indicate growing institutional interest as it progresses towards a potential business combination.

Comparison to Industry Standards

• The acquisition of a 5.2% stake by an institutional investor is a significant position, aligning with typical large institutional holdings in public companies, particularly SPACs where early institutional interest can be a positive signal.

Stakeholder Impact

• Shareholders: Increased institutional ownership may signal confidence and potentially attract further investment.
• Company: Validation of its market presence and potential for future strategic support from a significant investor.

Next Steps

• No specific future actions or milestones for LightWave Acquisition Corp. are detailed in this ownership disclosure.

Key Dates

Recommendation

Keywords

LightWave Acquisition Corp, Tenor Capital Management, Tenor Opportunity Master Fund, Robin Shah, Schedule 13G, beneficial ownership, Class A ordinary shares, institutional investor, SPAC, investment