SCHEDULE 13G: Magnetar Entities Disclose 8.06% Passive Stake in Newbury Street II Acquisition Corp.
Beneficial Ownership Report
Magnetar Financial LLC and its affiliates have reported a passive beneficial ownership of 8.06% in Newbury Street II Acquisition Corp., totaling 1,450,000 Class A ordinary shares as of December 31, 2024.
Summary
- Magnetar Financial LLC, Magnetar Capital Partners LP, Supernova Management LLC, and David J. Snyderman (collectively, the "Reporting Persons") have filed a Schedule 13G.
- The filing discloses beneficial ownership of 1,450,000 Class A ordinary shares of Newbury Street II Acquisition Corp.
- This ownership represents approximately 8.06% of the total outstanding shares of Newbury Street II Acquisition Corp. as of December 31, 2024.
- The percentage is calculated based on 17,998,375 shares outstanding as of December 13, 2024, as reported by the Issuer in its Form 10-Q.
- The shares are held across various Magnetar Funds, including Magnetar Constellation Master Fund, Ltd (333,000 shares), Magnetar Lake Credit Fund LLC (260,000 shares), Magnetar Structured Credit Fund, LP (232,000 shares), Magnetar Xing He Master Fund Ltd (218,000 shares), Magnetar Alpha Star Fund LLC (145,000 shares), Purpose Alternative Credit Fund Ltd (131,000 shares), Magnetar SC Fund Ltd (102,000 shares), and Purpose Alternative Credit Fund T LLC (29,000 shares).
- The Reporting Persons share both voting and dispositive power over the 1,450,000 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 document is a factual disclosure of beneficial ownership and does not contain qualitative statements that would indicate a positive or negative sentiment. It is neutral.
Future Outlook
NA
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."
Industry Context
This filing is a standard disclosure of a significant passive investment by an institutional investor in a publicly traded company, common in the financial industry for transparency regarding large ownership stakes.
Stakeholder Impact
- Shareholders: The disclosure of a significant 8.06% stake by Magnetar entities provides transparency regarding the ownership structure of Newbury Street II Acquisition Corp., which can influence investor perception and potentially liquidity.
Key Dates
| Date | Description |
|---|---|
| 2022-12-22 | Date of Limited Power of Attorney granted by David J. Snyderman. |
| 2024-12-13 | Date of outstanding shares count (17,998,375) as reported by Newbury Street II Acquisition Corp. in its Form 10-Q. |
| 2024-12-16 | Date Newbury Street II Acquisition Corp. filed its Form 10-Q with the SEC. |
| 2024-12-31 | Date of event which requires the filing of this Schedule 13G, reflecting the beneficial ownership. |
| 2025-01-29 | Date of the Joint Filing Agreement and the signing date of the Schedule 13G. |
Keywords
Newbury Street II Acquisition Corp., Magnetar Financial LLC, Schedule 13G, Beneficial Ownership, Class A ordinary share, Investment Adviser, Passive Investment, SEC Filing
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