Wolverine's 8.77% stake is a new passive position in a company that appears to have transitioned from a blank-check entity to a software business. Monitor for any subsequent 13D conversion or additional filings that could signal a shift from passive to activist intent.
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Executive Summary
Wolverine Asset Management LLC filed an amended Schedule 13G disclosing a 8.77% passive stake in Newbridge Acquisition Ltd as of September 30, 2026, representing 535,459 Class A Ordinary Shares. This is a new filing by Wolverine — no prior 13G from this filer was on file — and the stake is well above the 5% threshold, indicating a meaningful passive position in a company that has reclassified from blank check (SIC 6770) to prepackaged software (SIC 7372).
Key Financial Metrics
Key Facts
- Wolverine Asset Management LLC reported beneficial ownership of 535,459 Class A Ordinary Shares of Newbridge Acquisition Ltd.
- The stake represents 8.77% of the 6,108,750 outstanding Class A Ordinary Shares as of August 7, 2026.
- The filing is an amendment (SC 13G/A) dated as of September 30, 2026, filed October 6, 2026.
- Wolverine disclaims any intent to change or influence control of the issuer, certifying passive investor status under Rule 13d-1(b).
- The issuer's SIC code changed from 6770 (Blank Checks) to 7372 (Prepackaged Software), suggesting a business combination or operational shift.
Financial Impact
8.77% passive stake valued at undisclosed amount — no transaction prices provided in the filing.
Risk Factors
- The issuer's business model and revenue profile are unclear — the SIC change to prepackaged software may indicate a recent de-SPAC or acquisition, adding execution risk.
- Wolverine's passive certification could be amended to a 13D if circumstances change, introducing activist uncertainty.
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| SC 13G/A Filing (Primary) | 0001140361-26-038748 |
| Document: 0001140361-26-038748-index.html | 0001140361-26-038748 |
| Document: 0001140361-26-038748.txt | 0001140361-26-038748 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 6, 2026 20d ago | SC 13G/A | $10.09 | awaiting T+20 | — | $10.11 (+0.20%) |
Mar 18, 2026 31w ago | Press Release | — | awaiting T+20 | — | — |
US Market Status
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