SCHEDULE 13G: Blade Ranger Discloses 9.99% Stake in VisionWave

Blade Ranger Ltd. has reported a 9.99% beneficial ownership stake in VisionWave Holdings, Inc., comprising 1.8 million shares and warrants.

Summary

• Blade Ranger Ltd. has filed a Schedule 13G, reporting beneficial ownership of 1,800,000 shares of VisionWave Holdings, Inc. common stock.
• This ownership represents 9.99% of VisionWave's outstanding common stock, based on 16,516,603 shares outstanding as of December 29, 2025.
• The 1,800,000 shares include 1,500,000 common shares and pre-funded warrants to purchase up to 300,000 additional shares, exercisable within 60 days of December 15, 2025.
• The warrants are subject to a beneficial ownership limitation of 9.99% of VisionWave's issued and outstanding common stock.
• A special committee within Blade Ranger Ltd., consisting of its Chairman, controlling shareholder, and CEO, holds the sole power to vote and dispose of these shares, requiring a majority vote for any action.
• The reporting person certified that the securities were not acquired or held for the purpose of changing or influencing control of VisionWave Holdings, Inc., other than activities solely in connection with a nomination under Rule 14a-11.

Sentiment

Score: 5

Explanation: The filing is a factual disclosure of beneficial ownership, which is neutral in sentiment. It does not contain positive or negative performance indicators.

Future Outlook

NA

Management Comments

• A special committee (the "Special Committee"), comprised of the Chairman of the Board of Directors of Blade Ranger Ltd. ("Blade"), the controlling shareholder of Blade and the Chief Executive Officer of Blade, has power to vote and/or dispose of the shares of Common Stock, par value $0.01 per share (the "Shares"), of VisionWave Holdings, Inc. (the "Issuer") beneficially owned by Blade.
• A majority vote of members of the Special Committee is required for any action in connection with the Shares held by Blade, and no single member has a veto right.
• Each of the members of the Special Committee disclaims beneficial ownership of the Shares held by Blade.
• By signing below I certify that, to the best of my knowledge and belief, the securities referred to above 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

NA

Corporate Governance

Stakeholder Impact

• Shareholders: The disclosure of a significant 9.99% stake by an institutional investor like Blade Ranger Ltd. could be viewed positively, signaling confidence in VisionWave. The beneficial ownership limitation of 9.99% suggests Blade Ranger is not immediately seeking to influence control, which might reassure existing management and other shareholders.

Key Dates

Keywords

VisionWave Holdings Inc, Blade Ranger Ltd, Schedule 13G, beneficial ownership, common stock, warrants, equity stake, SEC filing, institutional ownership, 9.99% stake