Maywood Acquisition 2

This filing establishes the baseline redemption calendar (12-15 month deadline from IPO closing, trust per-share value ~$10.07), the trust economics, and the sponsor's incentive structure (founder shares at ~$0.01/share, 4,040,541 Class B shares, with 527,027 subject to forfeiture if over-allotment not exercised). It also shows that management's prior SPACs (Healthcare AI, Battery Future) had mixed outcomes – one never consummated a deal under this team, one did close. The trust holds 100% of gross proceeds ($10.00 per unit). The sponsor loan and working capital loan terms are disclosed. For investors tracking redemption mechanics, this is the foundational document for future extension votes and deal proxy statements.

The filing discloses the maximum proposed public offering of 11,500,000 units (10,000,000 base units plus 1,500,000 over-allotment units), with each unit comprising one Class A ordinary share and a right entitling the holder to receive one-seventh (1/7) of one Class A ordinary share upon completion of an initial business combination. Regarding sponsor equity and redemption mechanics, the registrant states that Stone Bay, LLC paid $25,000 (approximately $0.01 per share) on June 4, 2025, for 2,424,324 Class B ordinary shares and subsequently received 1,616,217 capitalized shares in October 2025, bringing its founder share total to 4,040,541 shares representing approximately 26% of post-offering outstanding equity; up to 527,027 of these shares will be surrendered for no consideration if the over-allotment option is not fully exercised. The filing also details a concurrent private placement commitment by West Pike, LLC to purchase 140,000 units at $10.00 per unit for $1,400,000, noting these units will be worthless if the SPAC fails to complete a business combination. On trust and indemnification mechanics, the registrant confirms that its officers and directors have contractually waived all rights, titles, interests, or claims to the trust account monies except where arising directly from their ownership of public shares, meaning any indemnification obligations can only be satisfied from funds outside the trust account or after consummating an initial business combination. The filing further itemizes estimated non-underwriting issuance expenses at $625,000 and identifies Zikang Wu (Chairman, Chief Executive Officer, and Chief Financial Officer), Zixun Jin, Hao Tian, and Chao Yang as executing officers and directors.

This filing provides the first comprehensive disclosure of the SPAC's IPO terms, including trust per share ($10.00), deadline (18 months from closing), sponsor economics (founder shares at ~$0.006 per share), redemption rights with a 15% cap if shareholder vote is held, and the structure of rights (1/7 share per right). It allows investors to evaluate the SPAC's management team, conflicts of interest, and dilution. No business combination has been identified, so the filing is a pre-offering disclosure for a new SPAC searching for a target.

This filing provides all the structural and financial terms for a new SPAC IPO. It informs investors of the trust value, redemption mechanics, share structure (including founder share dilution), the management team and their prior SPAC affiliations (including involvement with Healthcare AI Acquisition Corp. and Battery Future Acquisition Corp.), sponsor incentives, and the timeline. The filing also details the anti-dilution provisions of the founder shares which may cause further dilution for public shareholders.

This filing registers a new SPAC for IPO, providing the full terms, risk factors, and structure. For investors tracking redemption mechanics, the trust is initially $10.00 per share, the deadline is 15 months from closing (extendable to 18), and public shareholders have redemption rights in connection with a business combination or certain charter amendments. The sponsor's low-cost founder shares create potential conflicts. The filing contains no information on an existing target or deal progress; it is a pre-offering disclosure.

What changed: Schedule 13G beneficial ownership report, classified as a routine compliance exhibit. Regarding redemption deadlines, trust value, extensions, deal progress, and sponsor conduct, the filing contains no mechanical updates. The document identifies Wolverine Asset Management, LLC, Wolverine Holdings, LLC, Christopher L. Gust, and Robert R. Bellick as joint filers but discloses no share quantities, percentage thresholds, acquisition dates, or transaction histories that would shift liquidation windows, verify per-share valuations, trigger extension votes, advance business combination timelines, or reflect sponsor behavior. On other substantive grounds, the named filers made no assertions regarding customer portfolios, revenue streams, addressable market sizing, corporate strategy, proprietary technology, commercial partnerships, pending litigation, or executive personnel. Why it matters: For a SEARCHING-stage SPAC, a bare-list 13G typically reflects passive custodial aggregation or existing index exposure rather than coordinated campaign activity. Because the excerpt omits percentage stakes and trade dates, investors cannot determine whether these entities hold sufficient public shares to sway early redemption waves, oppose a future combination vote, or coordinate with management around deadline extensions. Subsequent amendments quantifying their aggregate voting power relative to outstanding float will be required before this filing meaningfully impacts liquidity dynamics or combination negotiations.

What changed: 10-Q (Quarterly Report for the period ended March 31, 2026) for Maywood Acquisition Corp. 2, a blank-check company that completed its IPO on April 15, 2026. This is the first quarterly report for the company since inception (June 3, 2025). The pre-IPO balance sheet shows only formation and offering cost activities. The key change from the filing is the subsequent consummation of the IPO on April 15, 2026: 10,000,000 units were sold at $10.00 per unit for gross proceeds of $100,000,000, which was deposited into the Trust Account. Simultaneously, the sponsor purchased 140,000 Private Placement Units for $1,400,000. The trust value is exactly $10.00 per unit ($100,000,000 / 10,000,000 units). The deadline is 12 months from the IPO closing (April 15, 2027), or 15 months if a definitive agreement is announced. The company has not yet identified a target or initiated any substantive discussions. The underwriter's over-allotment option to purchase 1,500,000 additional units had not been exercised as of the filing date. The company also incurred transaction costs of approximately $4,302,199. The CEO identified disclosure controls and procedures as not effective. Why it matters: This is the first public filing for this SPAC post-IPO, providing the baseline trust value ($100,000,000), unit structure (1 share + 1/4 right + 1 warrant), and the liquidation deadline (12 months from April 15, 2026, i.e., April 15, 2027). The filing confirms the sponsor has agreed to typical waivers and lock-ups. The notice of ineffective disclosure controls suggests potential internal control weaknesses that could lead to processing delays. The company is in the 'SEARCHING' stage with no target discussions initiated.

What changed: A Form 8-K Current Report and accompanying press release filed by Maywood Acquisition Corp. 2. Per the press release included as Exhibit 99.1 and signed by Chief Executive Officer Zikang Wu on May 13, 2026, the Company announced that holders of its sold units may elect to separately trade the included Class A ordinary shares, rights, and redeemable warrants commencing on or about May 15, 2026. Separated securities will list on Nasdaq Global Market under ticker symbols MYX, MYXXR, and MYXXW. Unseparated units will continue trading as MYXXU. The filing notes that warrants carry an exercise price of $11.50 per share, each right entitles the holder to one-fourth of one Class A ordinary share upon completion of the initial business combination, no fractional rights will be issued, and unit holders must direct their brokers to contact Continental Stock Transfer & Trust Company to execute the separation. Why it matters: This un-bundling of units alters the mechanical trading landscape for the trust ahead of the scheduled business combination deadline. Independent trading of equity, partial conversion rights, and warrants allows shareholders to adjust exposure without selling entire units, potentially influencing redemption demand, secondary market liquidity, and warrant exercise calculus. The Company reaffirms in the release that it remains a Cayman Islands exempt blank check company formed to enter into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more businesses or entities, and directs readers to the Risk Factors in the final prospectus filed April 14, 2026.

What changed: A Schedule 13G joint filing agreement (Exhibit A) executed on April 22, 2026, authorizing Whitebox Advisors LLC and Whitebox General Partner LLC to submit a single beneficial ownership report for Class A Ordinary Shares of Maywood Acquisition Corp. 2. The filing establishes a coordinated reporting structure for the two affiliated entities. It contains no amendments to shareholder rights, no update to redemption windows, no trust account valuation data, no extension vote records, no business combination milestones, and no changes to sponsor governance or conduct. Why it matters: The document solely confirms that Gina Scianni, identified as Associate General Counsel & Deputy Chief Compliance Officer of Whitebox Advisors LLC and Authorized Signatory of Whitebox General Partner LLC, consents to the joint submission. Because the excerpt isolates only the consent exhibit without the accompanying Schedule 13G body, percentage thresholds, acquisition intent language, or historical amendment tables, it provides no data on customer concentration, revenue streams, market sizing, strategic direction, technology pipelines, partnership formations, active litigation, or executive transitions. Accordingly, it does not alter the current SEARCHING status or materially affect the calculation of remaining time to the 2027-04-14 deadline, nor does it introduce new trust value mechanics.

What changed: Form 8-K Current Report, accompanied by an audited balance sheet and press release, reporting the April 15, 2026 closing of Maywood Acquisition Corp. 2’s initial public offering and simultaneous private placement. The registrant states the trust account was funded with exactly $100,000,000 from 10,000,000 units priced at $10.00 per unit. The business combination deadline is set to 12 months from the April 15, 2026 closing, extendable to 15 months if a definitive agreement is publicly announced. Redemption terms allow public shareholders to receive a pro rata portion of the trust account, initially anticipated to be $10.00 per share plus interest, net of taxes. Sponsor West Pike, LLC purchased 140,000 private placement units for $1,400,000, agreeing to a 30-day transfer lock-up and waiving redemption and liquidation rights for founder shares. D. Boral Capital LLC acted as underwriter, receiving a $500,000 cash fee and 350,000 representative shares, while total transaction costs amounted to approximately $4,302,199. The audited balance sheet discloses $590,248 in non-trust cash and $449,655 in stockholders’ equity as of the closing date. Why it matters: This filing establishes the definitive trust baseline, redemption floor, and accelerated 12-month search timer that governs investor liquidity and liquidation risk. The documented requirement that any target must hold a fair market value of at least 80% of the trust account value, combined with sponsor waivers and lock-ups, sets the structural economics for future negotiations. Notes to the financial statements confirm that management has not identified a target and has initiated no substantive discussions, indicating the entity operates with full strategic discretion and faces zero near-term deal completion probability while maintaining a monthly $1,667 administrative expense commitment to a sponsor affiliate.

What changed: Final prospectus (Rule 424(b)(4)) for the initial public offering of Maywood Acquisition Corp. 2, a blank check company. This is the first public disclosure of the terms of the IPO. No prior prospectus exists; this filing establishes the SPAC's offering structure, trust mechanics, redemption provisions, sponsor economics, and business combination timeline for the first time. Why it matters: Sets the baseline trust value at $10.00 per share ($100 million total, $115 million if over-allotment exercised), a 12-month deadline to close a business combination (extendable to 15 months if a definitive agreement is announced), and redemption rights for public shareholders. The filing also reveals sponsor incentives, dilution from founder shares purchased at $0.006 per share, and potential conflicts of interest among management and sponsors. Investors can now evaluate the terms and risks of this SPAC.

What changed: 8-K Current Report filed to announce the effectiveness of the registration statement for the initial public offering of Maywood Acquisition Corp. 2 and to file the executed IPO-related agreements as exhibits. This 8-K is a formality to certify that the registration statement on Form S-1 (File No. 333-294616) was declared effective on April 13, 2026, and the Company entered into the standard IPO agreements (underwriting, charter, rights, warrant, insider letter, trust, registration rights, private placement, indemnification, administrative services) and issued a press release announcing the pricing of the $100,000,000 offering of 10,000,000 units at $10.00 per unit. Why it matters: This filing documents the completion of the SPAC's IPO, establishing the core mechanics of the trust, the deadline (12 months from closing, extendable to 15 months), the value of shares ($10.07 per share per the provided summary but $10.00 per unit gross in the filing), the sponsor conduct (including vote and redemption agreements and indemnification for trust claims), and the lock-up and transfer restrictions. It is the foundational document for tracking all future extension votes, deal deadlines, and sponsor behavior; the SPAC is now 'SEARCHING' with a deadline of April 14, 2027.

What changed: A routine compliance exhibit — SEC Form 3 initial statement of beneficial ownership of securities. According to Director Jin Zixun’s Form 3 submission, no non-derivative transactions or holdings were reported. There are no shifts in insider equity, trust account mechanics, redemption calendar parameters, extension pathways, or sponsor behavior relative to the stated $10.07 trust/share value and 2027-04-14 deadline. Why it matters: This filing establishes the regulatory baseline for director-level ownership ahead of the redemption window. The explicit absence of reported holdings confirms Director Jin Zixun has not purchased public shares as of this date, which affects how investors track director alignment and potential market activity during the SEARCHING phase. The document contains no claims regarding customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel.

What changed: FORM 3 — insider ownership report filed with the SEC disclosing securities holdings and transactions by a reporting person of Maywood Acquisition Corp. 2. Wu Zikang (director, CEO, CFO) reported 'No non-derivative transactions or holdings reported' for the coverage period ending 2026-04-13. Why it matters: For investors monitoring redemption mechanics and sponsor conduct, this FORM 3 confirms the named executive has not executed new non-derivative equity positions as of the 2026-04-13 filing date. The report contains no assertions regarding customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel changes. Because Form 3 filings track initial insider reporting triggers and subsequent equity movements, the explicit statement of zero non-derivative activity indicates stable direct sponsor alignment without advancing the ongoing SEARCHING phase. The filing makes no references to trust distributions, extension resolutions, or deal negotiations, meaning redemption deadlines and share valuation parameters remain governed by prior prospectus disclosures rather than this submission.