Wolverine Asset Management has reduced its stake in StoneBridge Acquisition II Corp to below 3%, continuing a pattern of exit by SPAC-focused investors. Monitor for further reductions or a potential complete exit, and watch for any business combination announcement that could affect share price.
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Executive Summary
Wolverine Asset Management LLC filed an amended Schedule 13G disclosing a passive 2.98% stake (182,882 Class A Ordinary Shares) in StoneBridge Acquisition II Corp as of September 30, 2026. The filing confirms a reduction from a prior undisclosed level, as the stake is now below 5% and the filer certifies passive intent. This signals a continued exit by a notable SPAC investor.
Key Financial Metrics
Key Facts
- Wolverine Asset Management LLC reported beneficial ownership of 182,882 Class A Ordinary Shares, representing 2.98% of shares outstanding.
- The percentage was calculated based on 6,133,750 shares outstanding as of August 13, 2026 per the issuer's Form 10-Q.
- The filing is an amendment (SC 13G/A) with a date of change of October 6, 2026, indicating a reduction from a prior higher stake.
- The filer certifies the securities were acquired and are held in the ordinary course of business, not for control purposes.
- Shared voting and dispositive power is held by Wolverine Holdings LLC, Christopher L. Gust, and Robert R. Bellick.
Financial Impact
Stake reduction from above 5% to 2.98%; no dollar value disclosed.
Risk Factors
- Continued selling by a significant passive holder could pressure the stock.
- Low liquidity in a SPAC with a small public float may amplify price moves on any selling.
- No business combination has been announced, adding uncertainty to the SPAC's timeline and valuation.
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| SC 13G/A Filing (Primary) | 0001140361-26-038755 |
| Document: 0001140361-26-038755-index.html | 0001140361-26-038755 |
| Document: 0001140361-26-038755.txt | 0001140361-26-038755 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 6, 2026 21d ago | SC 13G/A | $10.27 $10.28 | ▼ −0.10% | ▼ −0.23% | $10.28 (−0.10%) |
Sep 21, 2026 5w ago | 8-K | $10.26 $10.26 | · 0.00% | ▲ +1.02% | $10.28 (+0.19%) |
US Market Status
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