APAC SEC filings, in plain English
Everything StoneBridge Acquisition II Corp has filed with the SEC that we hold — 40 filings, newest first, 38 with a plain-English summary of what changed and why it matters. Every row links to the primary document on EDGAR, so you can check the source rather than trust us.
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What changed: Quarterly report (Form 10-Q) for a blank-check company still searching for a business combination target. No deal announced. Trust value increased to $59,077,144 ($10.27 per public share, up from $10.10 at year-end). Cash burn accelerated: operating cash flow was negative $292,039 for six months vs. near-zero positive $39 a year earlier. Cash fell to $211,791 from $503,830. The sponsor transferred 100,000 founder shares to independent directors in February; one director (Richard Saldanha) resigned in May and his 25,000 unvested shares were returned to the sponsor. The auditor expressed substantial doubt about going concern because the mandatory liquidation date of April 1, 2027 is within one year of issuance and the sponsor is not obligated to fund any extension. No extension deposits have been made. Why it matters: The trust is growing (now $10.27/share) but the cash runway outside trust is thin — only $211,791 as of June 30 — and the burn rate has increased. With an April 2027 hard deadline and no announced target, the clock is ticking. The sponsor's obligation-free extension provision and the director resignation add governance risk. Any shareholder considering redemption needs to watch for an extension announcement or deal signing in the coming months. The disclosure explicitly warns that the financial statements do not include any going-concern adjustments.
What changed vs 2026-05-15trust $58.6M → $59.1M +1%trust account, combination deadline, going-concern doubt +21 moved · 4 with no prior record of ours
- Trust account
- $58.6M$59.1M
- Combination deadline
- not previously extracted2027-07-01
- Going-concern doubt
- stated · unchanged
- Mandate language
- we intend to focus our search on international businesses th…not matched in this filing
- Redeemable shares
- 5.75M · unchanged
SpacBrain reads this as $518,329 was added to the trust between the two filings.
The clause …“portion 107,467 54,092 Total Current Assets 319,258 557,922 Investments held in Trust Account 59,077,144 58,048,399 Other long-term assets – prepaid insurance 32,740 Total Other Assets 59,077,144 58,081,139 TOTAL ASSETS $”…
The clause …“extend the Completion Window for up to two additional three-month periods (to July 1, 2027 and October 1, 2027, respectively) by depositing $ 575,000 into the Trust Account for each extension; however, the Sponsor is not obligated to”…
The clause …“evaluated whether conditions or events, considered in the aggregate, raise substantial doubt about the Company's ability to continue as a going concern within one year after the date the unaudited condensed financial statements are”…
The clause …“200,000,000 shares authorized; 383,750 issued and outstanding (excluding 5,750,000 shares subject to possible redemption) 38 38 Class B ordinary shares; $ 0.0001 par value; 20,000,000 shares authorized; 1,916,667 issued and”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: This document IS a Form 8-K current report disclosing an entry into a material definitive agreement, specifically a Waiver to an Administrative Services Agreement attached as Exhibit 10.1. According to the registrant's filing, the operational mechanism shifted because StoneBridge Acquisition II Corporation and Scieniti LLC executed a waiver on August 10, 2026 that irrevocably waives the Company’s obligation to pay $10,000 per month for office space, utilities, and secretarial and administrative support effective October 1, 2025. This sponsorship-driven change directly impacts SPAC mechanics by reducing monthly cash burn ahead of the stated redemption deadline, though the waiver explicitly terminates upon the earlier of an initial business combination or liquidation, meaning it does not structurally extend the search period or alter the redemption calendar. Chief Executive Officer Bhargav Marepally executed the waiver for the Company, and Managing Member Jesudoss Lucasmani signed for Scieniti LLC, confirming ongoing sponsor-affiliate administrative coordination during the SEARCHING phase. Why it matters: For investors tracking the stated trust value and deadline, the filing confirms that no redemptions, extensions, or deal progress are being triggered, but the permanent removal of the $10,000 monthly administrative expense marginally preserves available capital for potential target acquisition or transaction fees. The submission contains no claims regarding target pipelines, revenue projections, market positioning, technology capabilities, litigation, or shareholder proposals. It solely documents cost deferral via sponsor waiver, with Section 2 clarifying that waived fees shall not be deferred, reinstated, reimbursed, or otherwise payable following a business combination, thereby eliminating future post-combination cash outflows related to this agreement.
What changed: A Schedule 13G beneficial ownership report filed by Clear Street LLC [0001708828-26-000264]. According to the filing text, Clear Street LLC submitted a statement of beneficial ownership; the excerpt discloses no share quantities, acquisition dates, or ownership percentages, and therefore reports no modification to redemption windows, trust account valuations, extension ballots, target deal advancement, or sponsor conduct. Why it matters: As attributed to Clear Street LLC and the Securities and Exchange Commission’s Form 13G framework, this submission monitors institutional or entity equity accumulation that may later influence shareholder vote weight, proxy contest feasibility, or strategic negotiation posture; however, because the provided text contains no assertions regarding customer contracts, revenue metrics, addressable market sizing, technology infrastructure, partnership arrangements, executive leadership changes, or pending litigation, it supplies no fundamental operating catalysts, timeline accelerations, or valuation floor adjustments for shareholders evaluating the SPAC’s search phase.
What changed: Quarterly report (Form 10-Q) for the period ended March 31, 2026, filed by StoneBridge Acquisition II Corp, a blank check company still searching for a business combination target. Trust account value increased to $58,558,815 from $58,048,399 due to $510,416 in dividend income and $4,127 in interest income; cash balance decreased to $329,698 from $503,830; net income of $387,601; general and administrative expenses of $126,942; working capital of $422,164. Subsequent event: Richard Saldanha resigned from board on May 8, 2026, and his 25,000 Class B shares returned to sponsor. No extension deposits or target announcement. Why it matters: Trust accretion adds cushion for redemptions; cash burn rate moderate; director resignation signals possible governance change; still no target identified with deadline April 1, 2027 (18-month window), raising going concern risk if no deal soon.
What changed vs 2025-11-12going concern APPEAREDgoing-concern doubt, trust account, redeemable shares +21 moved · 4 with no prior record of ours
- Going-concern doubt
- not statedstated
- Trust account
- not previously extracted$58.6M
- Redeemable shares
- not previously extracted5.75M
- Sponsor loans outstanding
- $172Knot matched in this filing
- Mandate language
- we intend to focus our search on international businesses th… · unchanged
SpacBrain reads this as the substantial-doubt sentence is in this filing and not in the previous one.
The clause …“and consummating an initial Business Combination. These conditions raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the unaudited condensed financial statements”…
The clause …“portion 143,499 54,092 Total Current Assets 473,197 557,922 Investments held in Trust Account 58,558,815 58,048,399 Other long-term assets – prepaid insurance - 32,740 Total Other Assets 58,558,815 58,081,139 TOTAL ASSETS $”…
The clause …“200,000,000 shares authorized; 383,750 issued and outstanding (excluding 5,750,000 shares subject to possible redemption) 38 38 Class B ordinary shares; $ 0.0001 par value; 20,000,000 shares authorized; 1,916,667 issued and”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: A Schedule 13G beneficial ownership report. The filing attributes a reported beneficial ownership position to Karplus Management, Inc. It contains no disclosure regarding redemption deadlines, trust account value per share, extension voting procedures, target acquisition progress, or sponsor conduct. Why it matters: For a SPAC in SEARCHING status, Schedule 13G submissions reveal institutional equity concentration that may influence future merger partner selection, extension approval thresholds, and post-merger governance. Because the excerpt provides no share quantities, acquisition dates, or transaction purposes attributed to Karplus Management, Inc., the filing offers limited immediate operational insight, though periodic SEC amendments remain relevant for tracking shareholder alignment ahead of the stated business combination timeline.
What changed: A Schedule 13G filing reporting beneficial ownership under federal securities regulations. Clear Street LLC is identified as the reporting beneficial owner. The provided excerpt contains no share quantities, percentage thresholds, acquisition dates, or statements of investment purpose. Why it matters: As a routine regulatory disclosure of equity holdings, the filing does not alter the SPAC’s existing $10.27 trust-per-share balance, its 2027-04-01 expiration deadline, extension mechanisms, target search progress, or sponsor conduct. It introduces no substantive claims regarding customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel, and therefore does not mechanically impact shareholder redemption windows or business combination execution.
What changed: A Form 8-K current report under Item 5.02 documenting the immediate resignation of director Richard Saldanha from StoneBridge Acquisition II Corporation’s board and committees, alongside the contractual reversion of 25,000 Class B ordinary shares to the sponsor. Per the filing, Richard Saldanha submitted his resignation notification to the board on May 8, 2026. The board stated the departure was not caused by any disagreement regarding operations, policies, or practices. Concurrently, the document confirms that 25,000 Class B ordinary shares granted to Mr. Saldanha on February 5, 2026 by sponsor Stonebridge Acquisition Sponsor II LLC are being automatically returned, as their vesting was conditioned on his continuous service through a business combination that has not yet closed. CEO Bhargav Marepally certified the report on May 11, 2026. Why it matters: The filing leaves the SPAC’s core mechanics untouched: the redemption deadline remains April 1, 2027, the trust value remains $10.27 per share, and no extension procedures or target acquisition progress are reported. The reduction in board size and recovery of 25,000 Class B shares adjust corporate governance and minor sponsor-linked equity allocations, but the stated lack of operational disputes frames this as administrative turnover rather than strategic friction. The registrant continues operating under Standard Industrial Classification 6770 from One World Trade Center, Suite 8500, New York, NY 10007, via phone number 646-314-3555.
What changed: A Schedule 13G/A, legally defined and formatted as an amendment to a statement of beneficial ownership reporting aggregate positions exceeding five percent of a registered class of equity securities. The provided excerpt enumerates four reporting persons—Wolverine Asset Management, LLC; Wolverine Holdings, LLC; Christopher L. Gust; and Robert R. Bellick—but contains zero quantitative disclosures. No share counts, ownership percentages, acquisition/disposition dates, voting or dispositive power allocations, or prior-filing comparison metrics are stated in the text. Therefore, the precise numerical or functional amendment cannot be extracted. Why it matters: Within the mechanics governing APAC, which maintains a SEARCHING designation, a trust account valuation of $10.27 per share, and a business combination deadline of April 1, 2027, this 13G/A operates strictly as a passive institutional holding registry. As the filing text attributes no share quantity or ownership threshold to the named Wolverine entities and principals, it does not alter shareholder redemption windows, adjust trust fund liquidity, trigger extension votes, illuminate sponsor conduct or fiduciary decisions, or provide evidence of target screening, negotiation status, or valuation benchmarks. Absent disclosed figures, the amendment carries no mechanical leverage over redemption timing, per-share payout calculations, or capital deployment schedules. Any substantive impact on the redemption calendar or trust integrity would require numerical thresholds that are absent from this excerpt.
What changed: Form 10-K annual report for StoneBridge Acquisition II Corporation, a blank-check SPAC formed for the purpose of effecting a merger or business combination. The filing is the company's first full-year 10-K covering the period from January 1, 2025 through December 31, 2025. It reports net income of $302,325 for 2025 (vs. net loss of $7,567 from inception through December 31, 2024). Trust account assets stood at $58,048,399 as of 12/31/2025. The company completed its IPO on October 1, 2025, selling 5,750,000 units at $10.00/unit (including full exercise of the over-allotment), for gross proceeds of $57,500,000, plus a $1,537,500 private placement. Trust per-share value at year-end was approximately $10.27 (derivable from $58,048,399 / 5,750,000 shares subject to redemption). No business combination has been announced; the deadline is April 1, 2027 (18 months from IPO), extendable to October 1, 2027 with sponsor deposits of $575,000 per three-month extension. Sponsor has the right to extend without shareholder vote. The going concern opinion includes an explanatory paragraph expressing substantial doubt. Cash outside trust was $503,830 as of 12/31/2025. A subsequent event in February 2026 transferred 100,000 founder shares from the sponsor to four independent directors. Why it matters: For investors tracking deadlines and trust value, the filing confirms the current trust value (~$10.27/share), the April 1, 2027 baseline deadline, and the sponsor's unilateral extension mechanism that could push the deadline to October 1, 2027. There is no merger agreement or target identified, and the independent auditor's going-concern qualification highlights the time pressure. The filing also details the sponsor's economics — founder shares purchased for ~$0.013/share, giving sponsor a strong incentive to complete any deal before liquidation. The company intends to focus on Ecommerce, Fintech, SaaS, Renewable Energy, Mining, and IT/IT-Enabled Services in APAC and EMEA regions.
What changed: A Schedule 13G/A routine compliance exhibit amending beneficial ownership disclosures for APAC, identifying Glazer Capital, LLC and Paul J. Glazer as the reporting holders. The filing excerpt attributes no adjusted share percentages, redemption triggers, trust account movements, extension proposals, or sponsor conduct remarks to Glazer Capital, LLC or Paul J. Glazer. Against the SPAC’s documented $10.27 per-share trust balance and 2027-04-01 business combination deadline, the text registers a standard ownership update without altering redemption mechanics, trust distribution protocols, or deal progression schedules. Why it matters: As a regulatory disclosure amendment, the filing tracks holder positioning while APAC remains in the SEARCHING phase. Because Glazer Capital, LLC and Paul J. Glazer disclose no material transactions, customer relationships, revenue metrics, partnership announcements, litigation exposure, or personnel shifts, the document does not currently trigger extension voting requirements, change sponsorship conduct parameters, or modify shareholder exit windows. Investors should monitor subsequent 13D amendments or proxy materials issued by these holders to identify actual combination targets, voting alignments, or capital deployment strategies.
What changed: A routine compliance exhibit: two Limited Powers of Attorney (Exhibits A and B) executed by Mizuho Financial Group, Inc., Mizuho Bank, Ltd., Mizuho Americas LLC, and Mizuho Securities USA LLC, delegating signing authority to Takahiro Katsura to prepare, execute, amend, and timely file Form 13G disclosures with the U.S. Securities and Exchange Commission regarding the companies' holdings and transactions in securities. The filing text contains no adjustments, triggers, or disclosures relating to redemption windows, trust account valuation, extension resolutions, target acquisition status, or sponsor conduct. It merely formalizes internal signing delegation, confirming that designated executives—Hidekatsu Take (Deputy President & Corporate Executive for Mizuho Financial Group; Managing Executive Officer, Head of Global Corporate & Investment Banking Division, Head of Global Transaction Banking Unit for Mizuho Bank) and Adam Hopkins (Chief Legal Officer and Managing Director, General Counsel for Mizuho Americas LLC and Mizuho Securities USA LLC)—have authorized Mr. Katsura to act on their behalf for Section 13(d) and 13(g) reporting purposes dated 2-12-2026. Why it matters: This document does not advance the SPAC's search mandate, modify the stated April 1, 2027 deadline, affect investor redemption rights, or signal changes to deal progress or sponsor behavior. It solely verifies Mizuho-affiliated entities are maintaining statutory ownership reporting compliance. The exhibit makes no claims regarding business performance, customer bases, revenue streams, market positioning, technology, partnership pipelines, litigation exposure, or executive departures beyond the internal authority delegation listed on the signature pages. As a purely administrative instrument required to complete the underlying Schedule 13G, it carries no direct bearing on capital event mechanics or investment thesis validation.
What changed: Schedule 13G/A amending beneficial ownership disclosures for APAC – StoneBridge Acquisition II Corp, filed by AQR Capital Management, LLC; AQR Capital Management Holdings, LLC; and AQR Arbitrage, LLC. The filing records an update to institutional ownership reporting. Because the provided excerpt omits share quantities, percentage thresholds, and transaction dates, no change in position can be confirmed. Accordingly, the redemption calendar is unaffected, the disclosed trust per share remains $10.27, the liquidation deadline stays 2027-04-01, and there are no signals of sponsor forfeiture, extension voting, or default remediation. Why it matters: The explicit listing of AQR Arbitrage suggests the amendment tracks passive arbitrage positioning, routine regulatory threshold adjustments, or portfolio reconciliation rather than active business combination pursuit. For investors tracking redemption mechanics and trust preservation, the lack of disclosed acquisition or disposition volumes means no measurable impact on expected redemption pressure or per-share trust liquidity. The submission contains zero claims regarding target customers, revenue, market size, technology, partnerships, litigation, or leadership changes, confining its substance to confirming ongoing institutional coverage during the SEARCHING phase without altering deal progress expectations or sponsor conduct evaluations.
What changed: A Form 8-K Current Report (Item 8.01 Other Events) disclosing a one-time equity grant of Class B ordinary shares to independent directors and their execution of a sponsor letter agreement joinder. According to the Board of Directors, the company approved a grant of an aggregate of 100,000 Class B Ordinary Shares to four independent directors—25,000 each to Richard Saldanha, Joel Huffman, Roshan Boodhoo, and Mahboob Subuhani Mohamed Mohideen—as compensation for board service. The filing states that Stonebridge Acquisition Sponsor II LLC transferred these shares to the directors from existing Class B shares held by the Sponsor. As noted by the directors, each executed a Joinder to the Sponsor Letter Agreement dated September 30, 2025, with Maxim Group LLC and the Sponsor. The registrant confirmed that its Class A Ordinary Shares carry a par value of $0.0001 per share. Per the Board and the filing text, no modifications were made to the redemption calendar, the $10.27 trust per share disclosed in the SPAC profile, the April 1, 2027 business combination deadline, or the SEARCHING operational status. Chief Executive Officer Bhargav Marepally certified the submission. The filing further identifies the registrant as a Cayman Islands-incorporated shell company operating under organization name 05 Real Estate & Construction, headquartered at One World Trade Center, Suite 8500, New York, NY 10007, with NASDAQ trading symbols APACU, APAC, and APACR, and designated as an Emerging Growth Company. Why it matters: For investors monitoring SPAC mechanics and sponsor conduct, the transfer of 100,000 founder-class shares to independent directors increases director economic alignment without triggering cash compensation or altering the trust account balance. Because the sponsor sourced the shares from existing holdings, the transaction dilutes the sponsor block rather than issuing new securities to public shareholders, leaving redemption yields and trust distribution assumptions intact. The joinder to the September 30, 2025 letter agreement subjects all four directors to the same voting, lock-up, and market manipulation restrictions that bind the sponsor, which reinforces governance discipline ahead of any future target announcement or charter amendment vote. Since the filing contains no proposed extension resolution, no acquisition target, and no amendment to shareholder rights, it carries zero immediate impact on the redemption window or unit settlement mechanics. However, updated director shareholdings and restricted-share commitments may become relevant when evaluating upcoming proxy statements, special meeting notices, or any request to modify the April 1, 2027 liquidation date.
What changed: A Securities Act Form 4 insider ownership report. No non-derivative transactions or holdings were reported, indicating no shift in insider equity that would impact capital deployment timelines, extension funding requirements, or sponsor leverage. Why it matters: The filing attributes the following to reporting person Antony Prabhu: director, Chief Financial Officer, and 10% owner. Confirming his 10% ownership stake clarifies his voting influence on any future shareholder votes regarding extension proposals or target acquisition approvals. The explicit absence of reported non-derivative transactions or holdings means no new insider trading data exists to inform near-term redemption pressure or confidence signals ahead of the stated deadline. These details are sourced directly from the issuer’s Form 4 submission.
What changed: Form 4 insider ownership report filed by director Mohamed Mohideen Mahboob Subuhani for StoneBridge Acquisition II Corp. Per the filing, the reporting person disclosed no non-derivative transactions or holdings. There is no modification to the redemption schedule, trust valuation of $10.27 per share, business combination deadline of 2027-04-01, extension mechanics, or sponsor conduct indicators. Why it matters: The filing’s explicit statement confirms the director executed no equity purchases, sales, or derivative exercises that would trigger Form 4 requirements. As attributed directly to the reporting person in this submission, the absence of reported positions indicates a neutral insider posture for the period. For investors monitoring a SEARCHING-stage SPAC, this establishes that neither new director capital deployment nor position liquidation occurred, leaving the current trust composition, redemption exposure, and timeline mechanics intact without altering sponsor behavior signals ahead of the documented 2027-04-01 expiration.
What changed: Form 4 insider ownership report for StoneBridge Acquisition II Corp, filed by director Richard B. Saldanha, which explicitly states 'No non-derivative transactions or holdings reported.'. No equity activity occurred during the reporting period. Director Richard B. Saldanha did not purchase, sell, or exercise any securities. The filing contains no information bearing on redemption calendars, trust account balances, extension mechanics, business combination status, or sponsor conduct. It also includes no claims regarding customer concentration, revenue projections, market sizing, technological roadmaps, partnership agreements, pending litigation, or personnel transitions. Why it matters: This routine regulatory submission confirms standard Section 16 compliance and leaves director Richard B. Saldanha’s capital exposure unchanged. For investors monitoring the SPAC search phase, the absence of insider trading provides a neutral baseline that rules out immediate liquidity drain or governance friction, though it offers no directional signal regarding cash trust distribution, deadline negotiations, or target pipeline velocity.
What changed: SEC Form 4 insider ownership report for StoneBridge Acquisition II Corp, filed by director Roshan Boodhoo, categorized as a routine compliance exhibit that explicitly states 'No non-derivative transactions or holdings reported.'. Per the 2026-02-06 filing, Director Boodhoo reported zero purchases, sales, or option exercises, leaving his direct equity stake unchanged relative to the disclosed $10.27 trust share amount and the 2027-04-01 deadline while the SPAC retains SEARCHING status. Why it matters: For investors monitoring redemption mechanics, extension votes, and sponsor conduct, the submission establishes a clean transparency baseline and signals the absence of recent insider accumulation or divestment that could otherwise foreshadow impending capital calls, target acquisition negotiations, or trust liquidation steps before the April 2027 termination window.
What changed: SEC Form 4 insider ownership report. According to the filing, reporting person Marepally Bhargava (director, Chief Executive Officer, 10% owner) executed zero non-derivative transactions and holds no reported derivative positions during the covered period. The public trust account valuation of $10.27 per share and the business combination deadline of 2027-04-01 remain completely unchanged by this submission. Why it matters: For investors tracking redemption deadlines, trust value, extensions, deal progress, or sponsor conduct, this static disclosure confirms the absence of recent insider buying or selling that could otherwise signal management confidence in a prospective acquisition or urgency ahead of the 2027-04-01 cutoff. It contains no statements regarding acquired customers, revenue streams, market size, technology roadmaps, strategic partnerships, pending litigation, or executive personnel changes, leaving the SPAC’s SEARCHING status and financial baseline exactly as documented prior to the 2026-02-06 filing date.
What changed: A SEC Form 4 — insider ownership report detailing beneficial ownership statements filed by a corporate director. The filing states that reporting person Joel David Huffman, identified as a director, had "No non-derivative transactions or holdings reported," indicating zero change in direct equity positions during the reporting period and no shifts in insider allocation that could signal early positioning ahead of a redemption deadline or extension vote. Why it matters: As a routine compliance exhibit, this document confirms baseline director conduct without altering assumptions about the SPAC’s trust account mechanics, warrant exercise structures, or merger negotiation timeline. It introduces no claims regarding target customers, revenue pipelines, technology roadmaps, partnership arrangements, or executive transitions. The absence of transactional activity simply maintains the current record for sponsor and board alignment tracking, offering no forward-looking catalysts for public shareholders evaluating their redemption options against the outstanding combination deadline.
What changed: Form 4 – insider ownership report / routine compliance exhibit. This Form 4, filed 2026-02-06, reports that the reporting person StoneBridge Acquisition Sponsor II LLC (identified as a 10% owner) executed zero non-derivative transactions or adjusted any holdings. The filing contains no disclosures altering the $10.27 trust/share value, the 2027-04-01 search deadline, extension procedures, or business combination deal progress. Why it matters: For investors tracking redemption mechanics, this confirms the 10% sponsor maintained its existing block without purchasing additional public shares ahead of the 2027-04-01 deadline, preserving current redemption probability models and trust liquidation baselines. Because the filing presents no claims or operational updates from the sponsor or management regarding customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel, substantive visibility remains unchanged and relies entirely on prior disclosures. The administrative update carries no directional signal beyond the static capital structure confirmation.
What changed: This document is a Form 4 — insider ownership report. In its own terms, this is a routine compliance exhibit confirming that reporting party BP SPAC Sponsor II LLC, designated as a 10% owner, engaged in no non-derivative transactions or portfolio changes. Bearing on your tracked mechanics, this confirms zero shift to the redemption deadline calendar, the $10.27 per-share trust value, the 2027-04-01 liquidation cutoff, any extension provisions, deal progress, or sponsor conduct regarding equity movement. Attribution: The reporting entity’s self-certification and the issuer’s SEC submission explicitly note the absence of reported transactions. Why it matters: Because the filing contains no claims about customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel, there is no operational material to adjust forward-looking assumptions. For investors tracking redemption windows and sponsor alignment, this routine exhibit establishes a verified baseline ahead of the 2027-04-01 deadline, indicating that secondary market pricing cannot yet reflect insider confidence or dilution pressure, and requiring reliance on a future merger agreement or proxy statement to evaluate conversion terms, trust distribution mechanics, or sponsor warrant/vote structures.
What changed: A Form 8-K current report under Item 5.02 announcing the appointment of an independent director to the board of StoneBridge Acquisition II Corporation. On February 2, 2026, the board appointed Mahboob Subuhani Mohamed Mohideen, age 38, as an independent director effective immediately. No committee assignments were made at the time of appointment. The filing confirms his eligibility for the Company’s standard non-employee director compensation program, if any, subject to future Board determination, and explicitly states that any initial equity or cash retainers will be disclosed once approved. No changes to the charter, capital structure, trust account provisions, redemption parameters, or search timeline are referenced. Why it matters: This filing does not alter the SPAC’s redemption calendar, trust distribution mechanics, extension schedule, merger pipeline, or sponsor conduct. It adds one independent seat to the board, maintaining governance requirements during the search phase. The filing provides substantive biographical details about the appointee, attributing to him advisory and board-level experience supporting government entities, family offices, and multinational enterprises across the Middle East, Europe, and Asia. The filing specifically cites his background in quantum computing, artificial intelligence, AI-driven platforms, AGI technology, enterprise technology, digitalization, fintech, and blockchain, with industry exposure spanning telecommunications, healthcare, education, aviation, tourism, smart security, and large-scale automation programs in the United Arab Emirates and the Gulf Cooperation Council region. While the document does not announce a target, partnership, or strategic pivot, the disclosed expertise profile may indicate the sponsor’s evolving criteria for potential business combinations. Shareholder economics remain unchanged.
What changed: Schedule 13G beneficial ownership report. This document is a Schedule 13G beneficial ownership report identifying Wolverine Asset Management, LLC, Wolverine Holdings, LLC, Christopher L. Gust, and Robert R. Bellick as reporting parties. It contains no disclosures regarding redemption deadlines, trust value distributions, extension proposals, deal progression, or sponsor conduct. The text provides no share quantities, acquisition timestamps, or voting thresholds. Furthermore, it contains zero assertions concerning customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel; therefore, no executive or management claims require attribution. Why it matters: Routine compliance exhibits like this satisfy SEC aggregation rules and serve as transparency markers for institutional positioning during the SEARCHING phase. Tracking multiple affiliated entities reporting together helps investors map shareholder alignment ahead of a potential de-SPAC announcement. In the absence of quantitative shifts, amendment language, or commercial claims, this filing does not materially alter the trust accounting framework, redemption window parameters, or corporate governance structure, but establishes a baseline registry for subsequent 13D/G monitoring.
What changed: SEC Form 3 initial statement of beneficial ownership reporting director Mohamed Mohideen Mahboob Subuhani’s equity position in StoneBridge Acquisition II Corp. Per the filing's explicit statement, there are 'No non-derivative transactions or holdings reported' as of the 2026-02-02 submission date. Insider share count remains static, meaning no purchase pressure exists to offset redemptions that could stress the $10.27 per share trust balance, and no disposition activity would alter the public float ahead of the 2027-04-01 search deadline. Why it matters: For investors tracking SPAC mechanics and sponsor conduct, the zero-disclosure confirms the director has neither accumulated shares to signal conviction around a pending target nor reduced exposure amid an extended search period. The document contains no customer claims, revenue figures, market size estimates, strategy statements, technology disclosures, partnership announcements, litigation details, or personnel changes beyond the reporting person's title. It merely confirms a clean compliance baseline without impacting redemption thresholds, trust valuation, extension windows, or deal-progression risk.
What changed: SEC Form 3 initial statement of beneficial ownership. The filing attributes a direct holding of 631,225 shares and a 10% owner designation to Mizuho Securities USA LLC. It does not reference the $10.27 trust per share, the 2027-04-01 liquidation deadline, the SEARCHING status, or any redemption mechanics, trust adjustments, extension votes, deal progress, or sponsor conduct. Why it matters: This routine compliance exhibit establishes an initial equity baseline rather than signaling a shift in capital structure or governance. Because it contains no target pipeline data, PIPE commitments, or sponsor activity, it does not alter the redemption calendar or trust distribution parameters. Investors tracking institutional positioning should monitor subsequent Form 4 filings for transaction volumes that could indicate liquidity supply shifts, but this initial snapshot leaves the stated $10.27 valuation and 2027-04-01 timeline unaffected.
What changed: Form 4 — insider ownership report. According to the filing, MIZUHO SECURITIES USA LLC completed an open-market sale of 531,255 shares at $9.95 on 2025-11-24, leaving the reporting person with 100,000 shares. The document makes no claims regarding the 2027-04-01 business combination deadline, the $10.27 trust value per share, extension procedures, target identification progress, or sponsor conduct. Why it matters: As reported by the filing, the transaction reflects routine secondary-market liquidity and does not mechanically interact with redemption windows, alter the listed deadline, or impact the trust allocation. Because the filer executed the sale away from any SPAC redemption or tender mechanism, it carries no effect on public stockholder redemption rights or sponsor obligations. The submission notes a trade price of $9.95 alongside the referenced $10.27 per-share trust balance, providing a direct snapshot of the quoted spread at the time of filing.
What changed: An 8-K current report and attached press release announcing the commencement of separate trading for the Class A ordinary shares and rights underlying StoneBridge Acquisition II Corporation's initial public offering units. Per the press release issued by the company on November 18, 2025, beginning November 21, 2025, unit holders may elect to split the units into Class A ordinary shares (par value $0.0001 per share) and rights, each entitled to receive one-tenth (1/10) of one ordinary share upon business combination completion. Separated securities will trade independently on Nasdaq under symbols “APAC” and “APACR,” while unsplit units remain traded as “APACU.” The company confirmed that brokers must contact transfer agent Continental Stock Transfer & Trust Company to process separations, and no fractional rights will be issued. The SEC had previously declared the Form S-1 registration statement effective on September 30, 2025, following an underwritten offering managed by Maxim Group LLC. Why it matters: This mechanical notice finalizes the post-IPO security structure, directly impacting how investors can adjust liquidity or position sizing before any target acquisition or redemption vote. Establishing the separate trading classes clarifies the outstanding equity count available for potential conversion into common stock at the time of a business combination, which feeds into per-share redemption thresholds approaching the April 1, 2027 deadline. It also serves as formal acknowledgment of the offering's effectiveness, starting the clock on the company's obligation to complete a merger, share exchange, asset acquisition, or similar transaction.
What changed: A routine compliance exhibit, specifically a Schedule 13G (beneficial ownership report), filed for APAC and listing Shaolin Capital Management LLC and David Puritz as the reporting persons. The submission records that the named parties have met the statutory requirement to publicly disclose their equity positions in APAC. The provided excerpt includes no share quantities, acquisition dates, sole versus shared voting or investment power allocations, or references to earlier filings. Why it matters: For investors monitoring the SPAC’s structural levers, this report does not adjust redemption windows, alter trust disbursement rules, trigger extension mechanisms, signal target selection velocity, or illuminate sponsor behavior. Any conclusion that these entities hold reportable exposure derives entirely from the filers’ self-reported Schedule 13G submission. Beyond confirming the existence of a regulatory-level stake, the text supplies no information on customer relationships, revenue generation, market size claims, strategic roadmaps, technology development, partnership arrangements, pending litigation, or personnel appointments. The filing therefore carries no immediate signaling weight for capital allocation, conversion economics, or corporate action forecasting.(flagged for human review)
What changed: A Schedule 13G beneficial ownership report filed on 2025-11-14 identifying AQR Capital Management, LLC; AQR Capital Management Holdings, LLC; and AQR Arbitrage, LLC as reporting persons who have acquired or reached the applicable regulatory threshold for beneficial ownership of APAC securities. The provided filing excerpt names three AQR-affiliated entities but omits the mandatory schedule body that would disclose aggregate share count, percentage of the class, acquisition date, cost basis, and stated investment purpose. Accordingly, the filing makes no reference to adjustments in the SPAC’s redemption calendar, trust per-share composition, extension mechanisms, target identification progress, or sponsor fiduciary conduct. Why it matters: Institutional investors reaching the applicable regulatory reporting threshold typically possess meaningful voting leverage ahead of any proposed business combination or extension amendment, which can directly influence redemption behavior and deal approval odds. Because the excerpt supplies no share quantities, strategic intent, or voting instructions, it offers no quantifiable insight into redemption demand, trust depletion risk, or sponsor diligence. Investors must examine the complete Exhibit 99.1 to determine whether the position is passive, mandates future accumulation, or signals coordinated pressure on management prior to the filing’s recorded ownership date.
What changed: Routine compliance exhibit: SEC Schedule 13G beneficial ownership report. According to the filing, Glazer Capital, LLC and Paul J. Glazer designate themselves as the reporting holders. The excerpt contains no disclosed share quantities, acquisition percentages, purchase prices, or transaction dates. It reports no adjustments to redemption mechanics, trust account distributions, extension provisions, business combination progress, or sponsor conduct. Why it matters: Because the filers disclose no equity threshold crossed, cost basis, or stated investment purpose, investors cannot determine whether Glazer Capital or Paul J. Glazer have established a reportable position, intend to acquire additional securities, or plan to influence management actions during the searching phase. Without disclosed ownership metrics or strategic directives regarding capital deployment, proxy participation, or conversion intentions, the filing offers no measurable signal regarding timeline pressure, liquidity expectations, or sponsorship behavior ahead of the operational window closure.
What changed: 10-Q Quarterly Report (unaudited condensed financial statements) for StoneBridge Acquisition II Corporation (APAC), a blank-check SPAC that completed its IPO on October 1, 2025, after the end of the reporting period. This is the first 10-Q filed after the IPO. The trust account was not yet funded at period-end (Sep 30, 2025); the IPO closed Oct 1, 2025 with $57,500,000 deposited in trust at $10.00 per share. The sponsor surrendered 3,833,333 founder shares for no consideration on April 21, 2025. Pre-IPO cash balance at Sep 30, 2025 was only $1,791 with a working capital deficit of $486,175, funded by a $172,272 promissory note from the sponsor. Net loss for nine months was $58,376. Deadline for a business combination is 18 months from Oct 1, 2025, extendable to 24 months with sponsor deposits of up to $1,150,000. Why it matters: This is the first clean financial snapshot of the SPAC just before its IPO funded the trust. Investors should note the thin pre-IPO capital, the significant founder-share surrender (reducing potential dilution), and that the clock for the 18-month combination deadline now runs from October 1, 2025. The filing confirms standard SPAC redemption mechanics at $10.00 per share and the sponsor's extension loan obligations.
What changed: Routine compliance exhibit: SEC Form 3 — insider ownership report. Director Joel David Huffman filed the document stating 'No non-derivative transactions or holdings reported.' The filing provides no data affecting the trust account balance, shareholder redemption mechanics, extension triggers, target search advancement, or sponsor conduct. Why it matters: As a Section 16 initial/filing requirement, this exhibit serves solely to confirm baseline insider position reporting without equity movement. The absence of reported transactions indicates no recent warrant conversions, promissory note settlements, or private investment in public equity (PIPE) allocations by this director that often foreshadow merger financing or voting arrangements. For investors mapping the redemption calendar or assessing trust sufficiency, the report carries no mechanical weight and leaves the existing SEARCHING framework unaltered.
What changed: FORM 3 — insider ownership report. According to the SEC filing, director Roshan Boodhoo reported zero non-derivative transactions or holdings. This submission does not alter redemption deadlines, trust accounting, extension procedures, deal progression, or sponsor conduct. Why it matters: As an initial Section 16 disclosure document, the filing establishes statutory baseline tracking for an insider following a status change without recording any equity or derivative positions. Because the text explicitly states no holdings were reported, it provides no near-term signal of management alignment, warrant activation, or out-of-pocket commitment ahead of the SEARCHING phase. The document contains no claims regarding customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel beyond standard issuer and reporting person identifiers; consequently, investors must await subsequent Forms 4, tender offers, or proxy statements to evaluate director conviction or target search milestones.
What changed: A Current Report on Form 8-K accompanied by an audited balance sheet and management disclosure reporting the consummation of an initial public offering and related private placement. StoneBridge Acquisition II Corporation reports closing its IPO on October 1, 2025, selling 5,750,000 Units at $10.00 per Unit for $57,500,000 in gross proceeds, which includes the full exercise of a 750,000-unit underwriter over-allotment option. Simultaneously, the company closed a private placement of 153,750 units for $1,537,500. Per the filing, exactly $57,500,000 was deposited into a trust account at Continental Stock Transfer & Trust Company. The company’s registration statement became effective September 30, 2025, and the document establishes an 18-month Completion Window from the October 1 closing before mandatory shareholder redemptions trigger if a business combination is not finalized. An audited balance sheet filed as Exhibit 99.1 shows $1,015,302 in operating cash, $97,946 in prepaid expenses, $57,500,000 in the trust, and $380,571 in current liabilities. Why it matters: This filing transitions the SPAC from pre-IPO search to post-offering execution, locking the trust floor and redemption timeline for public investors. Management states the initial business combination must involve a target with a fair market value equal to at least 80% of the net trust balance at signing. Public shareholders holding the 5,750,000 Class A ordinary shares will be entitled to redeem them for a pro-rata share of the trust, calculated as of two business days prior to consummation and adjusted for taxes payable. The sponsor letter agreement explicitly waives all redemption and liquidation distribution rights for founder and private placement shares, while requiring the sponsor to replenish the trust to $10.00 per public share if third-party claims deplete it. Administrative support fees commence at $10,000 per month immediately following October 1, 2025. Total transaction costs amounted to $3,063,880, broken down by the company into $287,500 in cash underwriting commissions, $476,380 in other offering costs, and $2,300,000 allocated to 230,000 representative shares issued to Maxim Group LLC, which carry an 180-day FINRA lock-up. The company confirms no target has been selected and no substantive discussions have been initiated.
What changed: Form 8-K filed by StoneBridge Acquisition II Corp (APAC) to report the completion of its initial public offering (IPO) and related events, including the entry into material definitive agreements, unregistered sales of equity, appointment of directors, and adoption of amended charter. The company consummated its IPO on October 1, 2025, issuing 5,750,000 units (including full over-allotment) at $10.00 per unit, generating $57.5 million in gross proceeds, all of which was deposited into the trust account, resulting in a trust value of $10.00 per public share. The sponsor and at-risk capital investors purchased 153,750 private placement units at $10.00 each. The board of directors was expanded to include three independent directors (Richard Saldanha, Joel Huffman, Roshan Boodhoo). The company adopted an amended and restated memorandum and articles of association. The sponsor now holds 1,091,667 founder shares. Why it matters: This filing establishes the SPAC's capital structure and trust account value ($57.5 million, or approximately $10.00 per public share) and sets the 24-month deadline for completing a business combination (by October 2027). Investors can use the trust value as a baseline for redemption decisions. The appointment of independent directors and adoption of governing documents are standard but necessary for Nasdaq listing and governance. No business combination target has been identified.
What changed: A Form 3 initial statement of beneficial ownership filed as a routine compliance exhibit by SPAC sponsor BP SPAC Sponsor II LLC to declare its foundational 10% equity stake in StoneBridge Acquisition II Corp. The filing expressly notes no non-derivative transactions or holdings, meaning the sponsor’s block remains static. This absence of movement carries no implications for the per-share trust composition, redemption calendar triggers, or the mechanical adjustment of warrant/stock conversion ratios. Why it matters: Because the document contains no forward-looking commitments, target nominations, or amendment language, it functions solely as a regulatory baseline for Section 16 tracking. Investors monitoring for extension proposals, trust interest accrual rates, or sponsor lock-up modifications will find no actionable data here; substantive developments will surface only through subsequent prospectus amendments, proxy solicitations, or tender offer statements tied to a confirmed merger target.
What changed: SEC Form 3, explicitly labeled in the text as an 'insider ownership report' filed by StoneBridge Acquisition Sponsor II LLC. The filing reports zero non-derivative transactions and zero derivative holdings for the named reporting person. The sponsor’s equity allocation remains unchanged at the 10% ownership level stated in the submission. No amendments appear to the redemption procedures, trust ledger, or de-SPAC timeline. Why it matters: Investors tracking sponsor conduct can treat this as a verified baseline: the sponsor has not purchased additional public units nor surrendered private placement shares, which leaves the capitalization table intact ahead of any merger vote. Because the disclosure documents no shifts in beneficial ownership, extension negotiations and prospective PIPE investments will proceed against a static 10% anchor block. The absence of trading activity also signals no near-term liquidity pressure or working capital drain, allowing management to preserve cash for target identification through the expiration window. Ownership assertions and the lack of transactional activity are sourced exclusively to the filer’s declaration that StoneBridge Acquisition Sponsor II LLC maintains a 10% stake without updates.
What changed: Rule 424(b)(4) prospectus filing detailing a proposed initial public offering of 5,000,000 units at $10.00 per unit. Why it matters: These parameters dictate the exact extension costs, redemption constraints, and structural dilution affecting public capital. The sponsor’s optional extension mechanism and waived loan repayment rights shift default duration control away from public shareholders. The 15% redemption ceiling and $5,000,001 asset requirement create defined boundaries for cash preservation and target valuation thresholds.
In plain English
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.