SCHEDULE: Rigel Resource Acquisition: Key Investors Exit Stake

Westchester Capital Management and affiliated entities report zero beneficial ownership in Rigel Resource Acquisition Corp., signaling a complete exit from their previously reported stake.

Summary

• This is an Amendment No. 1 to a Schedule 13G filing for Rigel Resource Acquisition Corp.
• The filing reports that Westchester Capital Management, LLC, Westchester Capital Partners, LLC, Virtus Investment Advisers, LLC, and The Merger Fund no longer beneficially own any Class A ordinary shares of Rigel Resource Acquisition Corp.
• Each reporting person now holds 0.00 shares, representing 0% of the class.
• The total outstanding shares of Rigel Resource Acquisition Corp. were 2,640,370 as of May 15, 2025.
• The event requiring this filing occurred on June 30, 2025.

Sentiment

Score: 5

Explanation: The filing is a factual report of a change in beneficial ownership to zero, which is neither inherently positive nor negative for the company without further context on the reason for the exit.

Negatives

• The complete exit of significant institutional investors could be perceived negatively, as it suggests a lack of continued confidence or the completion of an investment thesis.

Industry Context

This filing is a standard regulatory disclosure for institutional investors. For a Special Purpose Acquisition Company (SPAC) like Rigel Resource Acquisition Corp., a complete exit by investors could be related to the completion of a de-SPAC transaction, a liquidation, or simply the investors' investment strategy reaching its conclusion. The filing itself does not provide the specific reason for the exit.

Stakeholder Impact

• Shareholders might note the exit of these institutional investors, potentially influencing market perception.

Key Dates

Keywords

Rigel Resource Acquisition Corp, Westchester Capital Management, Schedule 13G, beneficial ownership, SPAC, investment exit, institutional investor, Class A ordinary shares