SVCC SEC filings, in plain English
Everything Stellar V Capital Corp. (Cayman Islands) 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: Form 10-Q quarterly report for the quarter ended June 30, 2026. Cash dropped to $61,051 (from $354,108); working capital deficit of $433,116; trust value rose to $159.5M ($10.63/share); net income $2.02M (down from $2.42M); G&A nearly doubled to $760k; new $50k convertible note to affiliate; going concern warning with October 31, 2026 deadline; director Michael Braunstein elected. Why it matters: Highlights deteriorating liquidity, increasing burn rate, and approaching liquidation deadline without a deal, reinforcing redemption risk for public shareholders.
What changed vs 2026-05-14trust $158.1M → $159.5M +1%trust account, combination deadline, going-concern doubt +11 moved · 3 with no prior record of ours
- Trust account
- $158.1M$159.5M
- Combination deadline
- 2026-10-31 · unchanged
- Going-concern doubt
- stated · unchanged
- Redeemable shares
- 15.0M · unchanged
SpacBrain reads this as $1,400,446 was added to the trust between the two filings.
The clause …“162,905 444,634 Long-term prepaid insurance — 6,626 Marketable securities held in Trust Account 159,509,307 156,724,641 Total Assets $ 159,672,212 $ 157,175,901 Liabilities, Class A Ordinary Shares Subject to Possible Redemption,”…
The clause “Management has determined that if the Company is unable to complete an initial Business Combination within the Combination Period by October 31, 2026, then the Company will cease all operations except for the purpose of liquidating.”…
The clause …“all operations except for the purpose of liquidating. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. Management plans to consummate an initial Business Combination prior to the”…
The clause “489,000,000 shares authorized; 555,000 shares issued and outstanding (excluding 15,000,000 shares subject to possible redemption) at June 30, 2026 and December 31, 2025 56 56 Class B ordinary shares, $ 0.0001 par value; 10,000,000 shares”…
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: Form 8-K current report detailing the creation of a direct financial obligation via an unsecured promissory note and the consequent unregistered sale of equity securities triggered by its conversion. As disclosed by the issuer in this 8-K dated June 23, 2026, the company issued a $200,000 unsecured promissory note to Nautilus Energy Management Corp. on June 17, 2026. The issuer states that Nautilus is controlled by the company’s Co-Chief Executive Officers, Prokopios (Akis) Tsirigakis and Georgios (George) Syllantavos. The note bears zero percent interest and mandates full principal repayment only upon consummation of a business combination. The issuer reports that Nautilus holds a unilateral conversion right, exercisable upon deal closing, to swap the principal for 20,000 private placement units at $10.00 per unit. The executed note (Exhibit 10.1) explicitly waives all claims against the public trust account, directing that any failure-based repayment draws exclusively from funds outside the trust. These terms do not alter the October 31, 2026 redemption deadline or the $10.63 per-share trust balance cited in your watchlist, nor do they signal target selection or extension proceedings. Why it matters: The disclosure confirms that management-affiliated debt is contractually insulated from the trust account, preserving the full $10.63 per-share redemption floor for public shareholders regardless of whether the merger closes. Conversely, if a business combination succeeds, the capitalization table absorbs 20,000 private units containing Class A shares and warrants exercisable at $11.50 per share, introducing modest post-transaction dilution. The issuer’s reliance on Section 4(a)(2) indicates the instruments were placed with sophisticated investors absent general solicitation. Absent any operating metrics, customer claims, or strategic updates, the filing serves primarily as a corporate finance structural update confirming standard SPAC waterfall protections and related-party financing terms rather than a catalyst for redemption decisions or timeline changes.
What changed: Quarterly report (Form 10-Q) for Stellar V Capital Corp., a SPAC searching for a business combination. Trust account value increased to $158.1M (from $156.7M) due to $1.384M interest earned; redemption value per share rose to $10.54 (from $10.45); cash decreased to $181k (from $354k); working capital is $144k; appointed Michael Braunstein as independent director; going concern disclosure notes risk if no deal by October 31, 2026 deadline; no business combination announced; net income $1.20M (vs $0.98M in prior year quarter). Why it matters: Routine update showing trust value growth and cash burn; highlights deadline pressure and potential liquidation risk if no transaction completed by October 31, 2026.
What changed vs 2025-11-10trust $155.2M → $158.1M +2%trust account, combination deadline, going-concern doubt +11 moved · 3 with no prior record of ours
- Trust account
- $155.2M$158.1M
- Combination deadline
- 2026-10-31 · unchanged
- Going-concern doubt
- stated · unchanged
- Redeemable shares
- 15.0M · unchanged
SpacBrain reads this as $2,895,356 was added to the trust between the two filings.
The clause …“266,328 444,634 Long-term prepaid insurance — 6,626 Marketable securities held in Trust Account 158,108,861 156,724,641 Total Assets $ 158,375,189 $ 157,175,901 Liabilities, Class A Ordinary Shares Subject to Possible Redemption,”…
The clause “Management has determined that if the Company is unable to complete an initial Business Combination within the Combination Period by October 31, 2026, then the Company will cease all operations except for the purpose of liquidating.”…
The clause …“all operations except for the purpose of liquidating. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. Management plans to consummate an initial Business Combination prior to the”…
The clause “489,000,000 shares authorized; 555,000 shares issued and outstanding (excluding 15,000,000 shares subject to possible redemption) at March 31, 2026 and December 31, 2025 56 56 Class B ordinary shares, $ 0.0001 par value; 10,000,000 shares”…
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: SEC Form 3 (Initial Statement of Beneficial Ownership of Securities), a routine compliance exhibit filed pursuant to Section 16(a) of the Securities Exchange Act of 1934. Reporting person Braunstein Michael E. (director) submitted this filing, and as documented in the form, there are 'No non-derivative transactions or holdings reported.' Zero shares or derivative contracts were acquired, disposed, or newly granted during the reporting window. Why it matters: Against the SPAC’s specific mechanics—redemption windows, trust accounting ($10.63 per share), extension considerations, combination deadline (2026-10-31), and sponsor alignment—this registration produces no actionable shift. Because it records no director equity movement, it neither confirms nor contradicts management’s stance on the trust balance, redemption behavior, or target pursuit trajectory. Moving to other substantive disclosures, the filing contains no assertions regarding customers, revenue, market size, corporate strategy, technology, partnerships, litigation exposure, or executive transitions. As attributed entirely to the reporting person’s regulatory certification in the Form 3, the document exclusively communicates an administrative static state, leaving all existing operational and financial parameters unchanged.
What changed: Form 4 insider ownership report for Stellar V Capital Corp. (Cayman Islands), submitted by reporting person Director Michael E. Braunstein. The filing discloses no non-derivative transactions or holdings adjustments for the named director. Regarding tracked mechanics, this routine compliance exhibit contains no amendments to the 2026-10-31 redemption deadline, does not modify the $10.63 trust/share valuation, and signals no changes in sponsor conduct, extension voting activity, or business combination progress. Why it matters: Investors monitoring redemption windows, trust accounting, and executive alignment receive confirmation that insider equity exposure remains static. The reporting person attributes zero transactional activity to the period covered, providing no forward-looking signal regarding deal sourcing, capital commitment, or governance shifts. The stated $10.63 per-share trust balance and SEARCHING status proceed unchanged without documentary evidence of management intervention or liquidity events.
What changed: Annual Report on Form 10-K for fiscal year ended December 31, 2025, filed by Stellar V Capital Corp. (SVCC), a blank-check company still searching for a business combination target. This is SVCC's first annual report since its January 2025 IPO. Trust account grew to $156.7 million ($10.45 per public share) from $151.1 million placed at IPO ($10.07 per share), reflecting $5.7 million of interest income. No target has been selected; management reports no substantive discussions with any candidate. Harry Braunstein, an independent director, died in November 2025; his son Michael Braunstein was appointed director in February 2026. Net income of $5.3 million for 2025 (all from trust interest). Cash on hand $354,108, working capital $320,514. The company's go‑concern disclosure flags substantial doubt if it cannot complete a business combination by its October 31, 2026 deadline. Why it matters: Trackers now have a baseline trust value of ≈$10.45/share (above the typical $10.00 redemption floor) and a clear deadline of October 31, 2026. The lack of any identified target or substantive discussions, combined with the go‑concern warning, heightens the risk of liquidation if a deal is not announced soon. The board change (independent director replaced by founder’s son) may affect governance and sponsor oversight.
What changed vs 2025-03-31trust $150.8M → $156.7M +4%going concern APPEAREDtrust account, going-concern doubt, combination deadline +32 moved · 4 with no prior record of ours
- Trust account
- $150.8M$156.7M
- Going-concern doubt
- not statedstated
- Combination deadline
- not previously extracted2026-10-31
- Redeemable shares
- not previously extracted15.0M
- Sponsor loans outstanding
- $168Knot matched in this filing
- Mandate language
- We intend to target businesses that hold, or have the potent… · unchanged
SpacBrain reads this as $5,974,641 was added to the trust between the two filings.
The clause …“other offering costs. As of December 31, 2025, we had marketable securities held in the Trust Account of $156,724,641 (including $5,674,641 of interest income) consisting of U.S. Treasury Bills with a maturity of 185 days or less. We”…
SpacBrain reads this as the substantial-doubt sentence is in this filing and not in the previous one.
The clause …“all operations except for the purpose of liquidating. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. Management plans to consummate an initial Business Combination prior to the”…
The clause “Management has determined that if the Company is unable to complete an initial Business Combination within the Combination Period by October 31, 2026, then the Company will cease all operations except for the purpose of liquidating.”…
The clause …“shares authorized; 555,000 and no shares issued and outstanding (excluding 15,000,000 and 0 shares subject to possible redemption) at December 31, 2025 and 2024, respectively 56 — Class B ordinary shares, $ 0.0001 par value;”…
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 Form 8-K current report disclosing a routine board succession event under Item 5.02 following the passing of a founding director. According to the filing, the Board elected Michael Braunstein as a Class II director effective February 28, 2026, filling the vacancy created by the November 2, 2025, passing of his father, former board member Harry Braunstein. The Board determined Michael Braunstein meets NASDAQ Stock Market independence standards. He will serve on the Audit Committee and the Compensation Committee, and chair the Nominating and Corporate Governance Committee. His documented background includes partner at Braunstein Turkish LLP since September 2009, managing member of Sunset Capital 1 LLC and affiliate entities since November 2025, president of those entities from January 2024 to November 2025, vice president from January 2019 to December 2023, and director of Sunset Capital 1 LLC. He holds a bachelor degree in music business from New York University in 2004 and a Juris Doctor degree from Brooklyn Law School in 2009. Co-Chief Executive Officer Prokopios (Akis) Tsirigakis executed the report on March 4, 2026. Why it matters: The succession maintains board quorum and full committee staffing ahead of the October 31, 2026 termination deadline, preventing delays to shareholder redemption windows, extension meetings, or trust accounting procedures. Appointing a family member signals continuity in sponsor oversight rather than an immediate strategic pivot, yet because the registrant remains in SEARCHING status with no merger targets, financial projections, or market size claims disclosed, the practical effect is purely compliance-driven. Investors should track subsequent filings for any amended prospectuses, trustee updates, or acquisition announcements.
What changed: A Schedule 13G/A amendatory statement reporting changes in beneficial ownership by the Healthcare of Ontario Pension Plan Trust Fund. The excerpt names only the reporting holder and confirms the filing type. It discloses no adjusted aggregate shares acquired, percentage of class, acquisition date, sole or shared voting or investment power, or statement of purpose. Consequently, it contains no data touching the $10.63 public trust per share metric, the October 31, 2026 business combination deadline, any proposed extensions, redemption mechanics, or sponsor conduct. Why it matters: Although the text supplies no share counts or price references to recalibrate investor expectations around the $10.63 trust value or the 2026-10-31 search window, the amendment’s mere existence signals that the Healthcare of Ontario Pension Plan Trust Fund either crossed a reporting threshold or altered its voting or investment posture. In a SEARCHING-stage SPAC where no announced target exists, unreported block movements frequently precede activist engagement, lock-up negotiations, or quiet accumulation ahead of a de-SPAC vote. Investors monitoring the deadline should treat the absence of disclosed numbers as a neutral-to-waiting posture until the full exhibit (SEC accession number 0001193125-26-051256) reveals whether the trust fund is hedging, increasing exposure, or preparing to redeem against the $10.63 trust per share benchmark before the 2026-10-31 cutoff.
What changed: Quarterly report on Form 10-Q for the period ended September 30, 2025, filed by Stellar V Capital Corp., a blank-check company still searching for a business combination. The trust account balance increased to $155,213,505 from $151,050,000 at IPO, driven by $4,163,505 in interest earned. Cash and working capital are $424,623 and $417,829, respectively. The company reported a net income of $3,914,405 for the nine months. No business combination has been announced, no redemptions occurred, and the liquidation deadline remains October 31, 2026. The over-allotment option expired unexercised. Why it matters: This filing confirms the SPAC is still in its search phase, with adequate trust proceeds and a clear deadline. The trust value per share is $10.35 (as of September 30, 2025), slightly above the IPO price, indicating no redemptions and positive interest. Investors should note the going concern doubt if no deal is completed by October 2026, but management plans to find a target before then.
What changed vs 2025-07-30trust $153.6M → $155.2M +1%trust account, combination deadline, going-concern doubt +11 moved · 3 with no prior record of ours
- Trust account
- $153.6M$155.2M
- Combination deadline
- 2026-10-31 · unchanged
- Going-concern doubt
- stated · unchanged
- Redeemable shares
- 15.0M · unchanged
SpacBrain reads this as $1,609,680 was added to the trust between the two filings.
The clause …“costs — 359,679 Long-Term prepaid insurance 27,876 — Marketable securities held in Trust Account 155,213,505 — Total Assets $ 155,777,004 $ 362,887 Liabilities, Class A Ordinary Shares Subject to Possible Redemption, and”…
The clause “Management has determined that if the Company is unable to complete an initial Business Combination within the Combination Period by October 31, 2026, then the Company will cease all operations except for the purpose of liquidating.”…
The clause …“all operations except for the purpose of liquidating. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. Management plans to consummate an initial Business Combination prior to the”…
The clause …“shares authorized; 555,000 and no shares issued and outstanding (excluding 15,000,000 and 0 shares subject to possible redemption) at September 30, 2025 and December 31, 2024, respectively 56 — Class B ordinary shares, $ 0.0001 par”…
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: Form 8-K Current Report disclosing a director departure under Item 5.02, specifically announcing the death of Board member Mr. Harry Brausnstein. According to the filing signed by Co-Chief Executive Officer Prokopios (Akis) Tsirigakis, Mr. Harry Brausnstein passed away on November 2, 2025, and the company learned of the death on November 6, 2025. Mr. Brausnstein had served on the Board since January 29, 2025, as chair of the Nominating and Corporate Governance Committee and as a member of both the Audit Committee and the Compensation Committee. The report states the Board will review its committee composition and overall membership in due course in accordance with the company’s amended and restated memorandum and articles of association. No other operational, financial, or contractual updates are reported. Why it matters: This filing does not amend the redemption schedule, adjust the trust account value per share, extend the liquidation deadline, or signal progress toward a merger or business combination. The vacancy created by the director’s death requires the board to fill seats on three separate committees, but the filing provides no timeline for appointments, nor does it trigger extension mechanisms, warrant repricing, or shareholder votes. As attributed by the Co-Chief Executive Officer, committee realignment will occur internally per the corporate charter. Redemption rights and termination mechanics remain unaffected pending any future charter amendments or successor appointments.
What changed: Amended Schedule 13G beneficial ownership report. The filing amends a prior institutional holdings disclosure on behalf of AQR Capital Management, LLC; AQR Capital Management Holdings, LLC; and AQR Arbitrage, LLC. The provided excerpt does not contain revised share quantities, percentage of class, acquisition dates, or investment purpose statements typically required to detail the nature of the change. Why it matters: Schedule 13G/A filings serve as the primary public record of institutional equity positions that can influence voting leverage and redemption liquidity in a SPAC. This submission confirms that the listed AQR entities remain registered holders of SVCC securities, but because the excerpt discloses no numerical stakes, purchase timelines, or strategic intent, it cannot be determined whether the amendment reflects portfolio consolidation, passive index maintenance, or arbitrage positioning ahead of the October 31, 2026 search deadline or a forthcoming business combination.
What changed: Quarterly report on Form 10-Q for the period ended June 30, 2025, filed by Stellar V Capital Corp. (SVCC), a blank-check company (SPAC) still searching for a business combination target. Trust account value rose to $153,603,825 ($10.24 per share) from $151,050,000 ($10.07 per share) at IPO, due to $2,553,825 in interest income. No business combination announced. The company continues to search for a target with a deadline of October 31, 2026. Cash balance is $484,043 with working capital surplus of $509,998. The company discloses substantial doubt about its ability to continue as a going concern. Why it matters: For investors monitoring redemption value and timeline, the trust per-share value increased to $10.24, providing a modest buffer above the $10.00 IPO price. The deadline remains October 31, 2026, with no extension announced. The going concern disclosure highlights the need for a deal or additional financing. No sponsor conduct issues or deal progress reported.
What changed vs 2025-05-15trust $152.0M → $153.6M +1%trust account, combination deadline, going-concern doubt +11 moved · 3 with no prior record of ours
- Trust account
- $152.0M$153.6M
- Combination deadline
- 2026-10-31 · unchanged
- Going-concern doubt
- stated · unchanged
- Redeemable shares
- 15.0M · unchanged
SpacBrain reads this as $1,589,800 was added to the trust between the two filings.
The clause …“costs — 359,679 Long-Term prepaid insurance 49,126 — Marketable securities held in Trust Account 153,603,825 — Total Assets $ 154,275,586 $ 362,887 Liabilities, Class A Ordinary Shares Subject to Possible Redemption, and”…
The clause …“there can be no assurance that the Company will be able to consummate any Business Combination by October 31, 2026. In addition, the Company may need to raise additional capital through loans or additional investments from its”…
The clause “14-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern,” the Company lacks the financial resources it needs to sustain operations for a reasonable period of time, which is considered to be one year”…
The clause …“shares authorized; 555,000 and no shares issued and outstanding (excluding 15,000,000 and 0 shares subject to possible redemption) at June 30, 2025 and December 31, 2024, respectively 56 — Class B ordinary shares, $ 0.0001 par value;”…
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 Form 10-Q quarterly report filed May 15, 2025 — Stellar V Capital Corp.'s first quarterly report since its January 31, 2025 IPO. It is not a merger agreement or target announcement; it contains unaudited financials, MD&A, and controls disclosures for a Cayman blank-check shell company still searching. The 10-Q reports the post-IPO state as of March 31, 2025: the trust account was funded with $151,050,000 at the IPO and totaled $152,014,025 at quarter-end, a redemption value of $10.13 per public share; the underwriters' over-allotment option expired unexercised on March 17, 2025; the sponsor promissory note was repaid; and no target or definitive business-combination agreement is disclosed. Management restates the 21-month completion window ending October 31, 2026. Why it matters: For redemption/deadline tracking, the filing pins the mandatory liquidation date and trust value: if no deal closes by October 31, 2026, public shareholders are to receive trust proceeds and the warrants expire worthless. It also discloses only $618,759 of cash outside trust and says its liquidity condition raises substantial doubt about going concern, while the filing's March 31, 2025 redemption value is $10.13 per share, not $10.63. The company remains a shell with no identified target.
What changed: A Joint Filing Agreement pursuant to Rule 13d-1(k) attached to a Schedule 13G beneficial ownership report. The document contains no updates to redemption deadlines, trust value per share, extension mechanics, business combination deal progress, or sponsor conduct. It registers zero changes to these parameters. Why it matters: Beyond confirming routine regulatory compliance, the filing substantively identifies LMR Partners LLP, LMR PARTNERS Ltd, LMR Partners LLC, LMR Partners AG, LMR PARTNERS (DIFC) Ltd, LMR Partners (Ireland) Limited, Ben Levine, and Stefan Renold as the reporting parties. Executed by Shane Cullinane, Allyson Hanlon, Ben Levine, and Stefan Renold, the agreement attributes independent liability for completeness and accuracy of each signer’s data to the respective signatory and mandates that all future Schedule 13G amendments be filed collectively without redundant joint agreements. While the document contains no claims regarding customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel, it serves as a baseline compliance record for this multi-entity fund complex ahead of the stated 2026-10-31 search deadline.
What changed: A Joint Filing Agreement dated May 14, 2025, executed by and among Stellar V Sponsor LLC, Prokopios (Akis) Tsirigakis, and George Syllantavos, consenting pursuant to Rule 13d-1(f) under the Securities Exchange Act of 1934 to collectively submit a single Schedule 13D statement covering beneficial ownership of SVCC shares. This exhibit modifies the administrative disclosure pathway rather than any economic or operational metric. It bundles the reporting obligations of three distinct parties into one joint submission, removing the requirement for separate individual ownership statements. The document contains zero references to adjustments in the shareholder redemption window, trust account payout calculations, extension voting procedures, target combination milestones, or alterations to sponsor fiduciary conduct. All previously established mechanical parameters remain untouched by this text. Why it matters: The document explicitly names the filing coalition: Stellar V Sponsor LLC, Prokopios (Akis) Tsirigakis (identified as President), and George Syllantavos. By executing this agreement, these parties establish joint liability and synchronized amendment protocols for any subsequent Schedule 13D filings related to the issuer. The text includes no assertions regarding customer backlogs, contracted revenue, total addressable market valuations, business model strategies, patent portfolios, vendor alliances, active litigation, or executive turnover beyond the signatories. As a routine compliance attachment to a securities ownership report, it carries no direct impact on redemption pricing, deal progression timelines, or capital allocation decisions, though it definitively maps the unified disclosure entity that will track and publicly report any future equity movements.
What changed: Routine compliance exhibit: SEC Schedule 13G beneficial ownership report. The filing does not modify redemption windows, change the trust per share balance, seek an extension, advance a target acquisition, or disclose sponsor conduct. It solely records the Healthcare of Ontario Pension Plan Trust Fund’s existing stake. Why it matters: Attributed to the Healthcare of Ontario Pension Plan Trust Fund, the document contains no claims about customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel. Investors receive no updated mechanics regarding capital preservation or liquidation timing from this submission.
What changed: Routine compliance exhibit: a Schedule 13G beneficial ownership report filed by AQR Capital Management, LLC, AQR Capital Management Holdings, LLC, and AQR Arbitrage, LLC. The filing excerpt discloses no adjustments to redemption calendars, trust account administration, extension votes, business combination timelines, or sponsor conduct. It lists only the reporting entities without attaching share quantities, ownership percentages, acquisition dates, or cost basis, leaving all prior redemption mechanics unmodified by this submission. Why it matters: For investors monitoring redemption thresholds and sponsor activity, the absence of disclosed position sizes or stated acquisition purposes suggests passive institutional holding rather than coordinated efforts to influence a pending merger vote or trigger mass redemptions. The document contains no substantive disclosures regarding customer contracts, revenue metrics, total addressable market assertions, operational strategy, proprietary technology, strategic partnerships, ongoing litigation, or executive personnel changes.
What changed: A Joint Filing Agreement attached to a Schedule 13G beneficial ownership report, submitted pursuant to Rule 13d-1(k) under the Securities Exchange Act of 1934 regarding Shares of STELLAR V CAPITAL CORP. Reported by MAGNETAR FINANCIAL LLC, MAGNETAR CAPITAL PARTNERS LP, SUPERNOVA MANAGEMENT LLC, and DAVID J. SNYDERMAN, the filing attests to a continuing beneficial ownership position as of March 31, 2025. The registrants do not disclose alterations to the 2026-10-31 deadline, the SEARCHING status, the $10.63 trust value, any business combination target, an extension proposal, or sponsor conduct. Hayley Stein executes the document on May 9, 2025 as attorney-in-fact for all signatories. Why it matters: This routine compliance exhibit confirms the ongoing Section 13(d) reporting framework for the named Magnetar-affiliated entities and David J. Snyderman. Because the text contains only a joint signature mechanism and references a March 31, 2025 data snapshot, it offers no substantive information regarding customer relationships, revenue metrics, market positioning, strategic direction, proprietary technology, corporate partnerships, active litigation, or personnel assignments. The filing mechanically leaves the redemption window, trust accounting, and capital structure untouched, though it substantiates that these specific holders maintained reportable equity positions into early May 2025.
What changed: Annual report (Form 10-K) for the fiscal year ended December 31, 2024, for Stellar V Capital Corp., a blank check company that consummated its IPO on January 31, 2025, after the balance sheet date. This is the first 10-K since inception and covers the pre-IPO period. It reports the company's formation, the IPO proceeds and trust deposit of $151,050,000 ($10.07 per unit), the 21-month deadline to complete a business combination (until October 31, 2026), sponsor ownership details (6,059,925 founder shares purchased for $25,000), and the appointment of directors and officers. No business combination target has been selected or discussed. The over-allotment option expired unexercised on March 17, 2025. Why it matters: The filing establishes the baseline financial position and trust value ($10.07 per share at IPO, potentially growing with interest), confirms the redemption mechanics and deadline, and provides details on sponsor incentives and conflicts. It is essential for tracking the SPAC's progress toward a deal and for evaluating redemption risks.
What changed: Form 8-K Current Report announcing the commencement of separate trading for the Company’s Class A ordinary shares and warrants, accompanied by a press release detailing the mechanics of unit separation following its January 31, 2025 IPO. Per Item 8.01 and Exhibit 99.1, the filing states that commencing March 24, 2025, holders of the initial public offering units may elect to separately trade the underlying Class A ordinary shares and warrants on Nasdaq under the symbols “SVCC” and “SVCCW,” respectively. Unseparated units will continue trading under “SVCCU.” The press release specifies that each unit contains one Class A ordinary share and one-half of one redeemable warrant exercisable at an exercise price of $11.50 per share. Separation requires brokers to contact transfer agent Continental Stock Transfer & Trust Company. The announcement notes that BTIG, LLC served as the sole book-running manager of the underwritten offering. Co-Chief Executive Officer Prokopios (Akis) Tsirigakis executed the report. The filing lists contact information including Vice President of Business Development Anastasios (Tassos) Chrysostomidis and investor relations contact Daniela Guerrero at Capital Link, Inc., located at 230 Park Avenue, Suite 1540, New York, N.Y. 10169. Why it matters: This administrative milestone transitions the SPAC’s securities from bundled units to distinct equity and derivative components, which typically broadens the holder base, improves liquidity, and clarifies valuation metrics for both the shares and warrants before a target acquisition. While the filing does not modify the Oct 31, 2026 redemption deadline or adjust the trust account composition, the independent listing of SVCC and SVCCW enables market participants to price risk and leverage separately, influencing arbitrage flows and signaling sponsor activity levels during the “SEARCHING” phase. Investors tracking capital deployment should monitor post-separation trading volume and optionality pricing as proxies for institutional confidence or speculative hedging ahead of any merger announcement.
What changed: A Form 8-K current report and accompanying audited balance sheet documenting the consummation of Stellar V Capital Corp.'s initial public offering and the funding of its trust account. According to the filing, the Company completed its IPO on January 31, 2025, selling 15,000,000 Units at $10.00 per Unit for $150,000,000 in gross proceeds, alongside a private placement of 555,000 units to the Sponsor and BTIG, LLC at $10.00 per unit for $5,550,000. The audited balance sheet confirms $151,050,000 was deposited into the trust account, establishing an initial public share redemption value of $10.07, with Continental Stock Transfer & Trust Company serving as trustee. The document records total transaction costs of $8,782,919, broken down into a $3,000,000 cash underwriting fee, a $5,250,000 deferred underwriting fee, and $532,919 in other offering costs. It further states that the Sponsor repaid a $242,696 promissory note upon closing, while an administrative services agreement with Nautilus Energy Management Corp mandates monthly payments of approximately $10,000 starting January 30, 2025. The 21-month completion window for an initial business combination officially begins January 31, 2025, and the underwriters' unexercised over-allotment option to buy up to 2,250,000 additional Units remains active. Why it matters: The reported $151,050,000 trust balance and $10.07 per-share valuation permanently set the baseline liquidity and maximum pro-rata redemption price for public shareholders through the 21-month deadline. The $5,250,000 deferred underwriting liability acts as a structural incentive, ensuring underwriters only collect their fee upon a successful deal closure, while simultaneously defining the exact amount excluded from initial redemption calculations. Because the Company explicitly notes it has not yet commenced operations or identified any target business, the filing contains zero claims regarding customers, operating revenue, market size, strategy execution, technology, or partnerships. Instead, the substantive record focuses entirely on pre-combination governance: founder share lock-up conditions, a $300,000 repaid working capital promissory note, and up to $1,500,000 in uncommitted future working capital loans available from the Sponsor or founding team. Tracker attention should now shift exclusively to future filings announcing target discovery, definitive agreements, proposed extensions, or large-scale redemption events that test the trust's remaining interest yield against the disclosed monthly administrative and professional burn rates.
What changed: An 8-K Current Report filed by Stellar V Capital Corp. (SVCC) on February 4, 2025, reporting the completion of its initial public offering (IPO) on January 31, 2025. SVCC completed its IPO of 15,000,000 units at $10.00 per unit for gross proceeds of $150,000,000, and a simultaneous private placement of 555,000 units to the Sponsor and BTIG for $5,550,000. Total proceeds of $151,050,000 were deposited into the trust account. The trust is $151,050,000 on $10.07 per public share. The deadline for a business combination is 21 months from the closing (October 31, 2026). The board of directors and officers were appointed, and the amended charter was adopted. Why it matters: This filing establishes the trust value, the redemption mechanics, and the deadline for SVCC's business combination. There are no new terms for the ongoing search, but the trust value per share ($10.07) and the 21-month deadline (October 31, 2026) are now definitive for investors.
What changed: SEC Form 4 (insider ownership report). Director, CEO, President, and COB Prokopios Akis Tsirigakis acquired 365,000 shares via open-market purchase on 2025-01-31, bringing his reported direct holding to 365,000 shares immediately following the transaction. The filing identifies him as a 10% owner. No provisions affecting the $10.63 per-share trust balance, no extension filings, and no target-combination milestones that would modify the 2026-10-31 redemption window or liquidation timeline are disclosed. Why it matters: The reported transaction reflects sponsor/insider capital deployed at prevailing market prices rather than against trust account proceeds, which may signal management alignment during the SEARCHING phase but does not mechanically alter shareholder redemption rights, extension voting procedures, or trust distribution mechanics. The filing contains no assertions regarding customer pipelines, revenue targets, market size estimates, technology roadmaps, partnership agreements, ongoing litigation, or executive personnel shifts. The sole operational claim—the share accumulation and resulting ownership stake—originates entirely from the Form 4 submission by Prokopios Akis Tsirigakis.
What changed: Form 4 — insider ownership report. Identified in its own terms, this filing is a Form 4 — insider ownership report. It discloses that Stellar V Sponsor LLC executed an open-market purchase of 365,000 shares on 2025-01-31, bringing its post-transaction holding to 365,000 shares. Regarding mechanics, the trade leaves the stated trust/share value of $10.63 unchanged, does not trigger an extension provision, does not alter the 2026-10-31 business combination deadline, and confirms the SPAC remains in a SEARCHING phase without engaging redemption or liquidation mechanics. Regarding other substance, the submission contains no claims, data, or disclosures concerning customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel. Why it matters: Attributed solely to the sponsor’s Form 4 filing, the acquisition of 365,000 shares represents secondary market buying that adds sponsor equity but does not deposit funds into, withdraw from, or revalue the SPAC trust balance of $10.63. Consequently, the action has no mechanical effect on the shareholder redemption window, does not mandate a vote under extension clauses, and does not advance the deal calendar tied to the 2026-10-31 deadline. Investors monitoring SVCC should treat this as routine sponsor positioning that signals capital commitment without altering redemption risk, trust distributions, or merger timelines.
What changed: SEC Form 4 insider ownership and transaction report. The Form 4 discloses that George Syllantavos, listed in the filing as a director, Co‑CEO, and CFO, executed an open‑market purchase of 365,000 shares on 2025-01-31. The document states his post‑transaction holding is 365,000 shares. The filing does not modify the company’s search-phase status, the stated trust balance of $10.63 per share, or the 2026-10-31 redemption deadline. Why it matters: Per the filing’s own disclosure, the open‑market acquisition shows that a founding officer allocated personal capital to the public equity rather than using private placements, avoiding any trust restructuring or dilution mechanisms. For investors tracking sponsorship behavior and redemption mechanics, this confirms increased insider exposure while the SPAC hunts for a target, but it does not alter any contractually scheduled redemption windows, extension votes, or trust distributions. The document contains no assertions regarding customers, revenue, market size, strategy, technology, partnerships, or litigation. The only operative update is the reported share count; continued Form 4 monitoring will clarify whether this reflects a deliberate accumulation trend as the October 31, 2026 deadline approaches.
What changed: Form 424B4 registration statement and initial public offering prospectus for Stellar V Capital Corp., a Cayman Islands exempted blank check company. Per the prospectus prepared by the issuer and underwritten by BTIG, the public offering mechanics mandate 15,000,000 units at $10.00 each, depositing $151,050,000 into a U.S. trust account (escalating to $173,707,500 upon full exercise of the 2,250,000-unit over-allotment option), establishing an initial trust valuation of $10.07 per share. Why it matters: Management asserts that the founders’ near-nominal $25,000 equity purchase creates asymmetric incentives compared to the $10.00 public offering price, a structural conflict the filing notes could motivate the completion of unprofitable targets—a risk the issuer emphasizes via extensive dilution warnings and net tangible book value tables showing up to 107% dilution under maximum redemption scenarios. The $10.07 per-share trust floor and $100,000 maximum liquidation expense deduction establish the precise redemption payout parameters cited by the sponsor and governing documents.
What changed: SEC Form 3 — insider ownership report (routine compliance exhibit). Per the filing dated 2025-01-29, Director Thomas Christopher James submitted the initial beneficial ownership statement for Stellar V Capital Corp. The filing explicitly states 'No non-derivative transactions or holdings reported.' This leaves the SPAC’s mechanics unchanged: the redemption deadline remains 2026-10-31, the trust/share value holds at $10.63, and the SEARCH status persists. No insider equity movement, extension funding, or sponsor reallocation is indicated. Why it matters: Investors monitoring redemption deadlines, trust value, extensions, or sponsor conduct will find no actionable shift. The document contains zero claims about customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel. Attributed solely to the statutory Form 3 submission by the issuer and its director, it confirms routine Section 16 coverage without altering deal progress expectations or investor capital deployment signals.
What changed: Form 3 — insider ownership report. A routine compliance exhibit submitted to the Securities and Exchange Commission to record the initial or subsequent beneficial ownership of corporate securities by designated insiders. The filing explicitly states that no non-derivative transactions or holdings were reported for director Nicolas Bornozis as of the 2025-01-29 submission date. Accordingly, the SPAC’s SEARCHING operational phase, $10.63 trust value per share, and 2026-10-31 business combination deadline remain mechanically unchanged. Why it matters: According to the report, the document contains no material disclosures regarding customers, revenue streams, market sizing, strategic direction, proprietary technology, partnership frameworks, active litigation, or executive personnel transitions. Monitoring director equity accumulation helps investors assess whether insiders are aligning personal capital ahead of redemption deadlines or extension proposals; an empty Form 3 generally indicates that foundational shares or director compensation were previously granted and filed, or that current interests reside exclusively in unconverted derivatives or restricted performance units. This routine regulatory submission carries no immediate impact on the trust accounting, unit conversion mechanics, or sponsor fiduciary conduct beyond standard compliance.
What changed: a routine compliance exhibit — SEC Form 3, initial statement of beneficial ownership of securities, specifically an insider ownership report. The filing explicitly states 'No non-derivative transactions or holdings reported.' This yields zero changes to director equity positions, imposes no impact on the SPAC’s redemption mechanics, trust value accounting, extension voting thresholds, or target acquisition pipeline, and introduces no sponsor conduct signals. Why it matters: Attributed to Director Harry Braunstein’s regulatory filing, the document contains no substantive claims regarding customer contracts, revenue recognition, addressable market sizing, technology deployment, partnership structuring, active litigation, or executive succession. Because the disclosure registers a complete absence of equity or derivative movements, it offers no actionable data for investors calibrating the redemption calendar, assessing trust preservation urgency, or evaluating sponsor alignment. The filing satisfies periodic Section 16 acknowledgment without shifting operational, financial, or governance parameters.
What changed: Routine compliance exhibit — SEC Form 3 insider ownership report filed January 29, 2025, by reporting person Stellar V Sponsor LLC. Per the Form 3 data, the reporting person disclosed no non-derivative transactions or holdings changes. Accordingly, there is no modification to the sponsor’s 10% ownership level, no movement affecting the $10.63-per-share trust balance, no activation of provisions tied to the October 31, 2026 deadline, and no signals regarding extension negotiations, redemption thresholds, or deal progression. Why it matters: Beyond the mechanics, the document contains no substantive claims regarding customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel. As stated by the filer, the sole operative fact is the static reporting status. For investors tracking the SEARCHING-phase SPAC, this confirms that sponsor conduct remains aligned with baseline post-IPO positioning, leaves the $10.63 trust value undisturbed for potential future target valuations, and keeps the 2026-10-31 conversion window intact without triggering early liquidation or amendment clauses. The filing’s materiality derives from its silence rather than disclosure, verifying compliance ahead of any future target announcement.
What changed: A routine SEC Form 3 insider ownership report. The filing covers Director, Co-CEO, and CFO Syllantavos George, identified as a 10% owner. The report explicitly states that no non-derivative transactions or holdings were recorded for this individual. Why it matters: Because the submission records zero changes to insider beneficial ownership, it does not impact the SPAC’s trust account mechanics, redemption windows, or extension schedules. The absence of transactional activity means sponsor equity remains static, allowing investors to track the company’s SEARCHING phase without adjusting for potential dilution or shifts in management’s financial commitment.
What changed: SEC Form 3 — an initial statement of beneficial ownership of securities, filed here as a routine insider ownership report by Stellar V Capital Corp.’s VP of Business Development, Chrysostomidis Anastasios. The filing explicitly states 'No non-derivative transactions or holdings reported.' Accordingly, there are no adjustments to insider equity positions, nor any filings indicating moves toward business combination approval, redemption window activations, trust fund reallocations, extension vote scheduling, or alterations in sponsor management or conduct. Why it matters: For shareholders monitoring SVCC, this submission functions as a mandatory procedural checkpoint confirming the reporting person’s identity under Section 16(a) rules rather than a developmental catalyst. The document contains zero assertions regarding customer acquisition, revenue forecasting, total addressable market sizing, commercial strategy, technology development, partnership structuring, litigation posture, or personnel transitions. Attributed solely to the filer’s certification within the document, the explicit absence of trades confirms static insider positioning, which neither pressures redemption dynamics nor implies acceleration of the stated termination window. In periods when SPACs typically release merger drafts, amendment filings, or board resolutions governing liquidation or extension mechanics, this record merely closes a disclosure cycle without advancing the search thesis or altering trust-level benchmarks.
What changed: Routine compliance exhibit — Form 3 (insider ownership report). According to the Form 3 submission, director and Co-CEO/President/COB Tsirigakis Prokopios Akis, listed as a 10 percent owner, reported no non-derivative transactions or holdings. This records no change in insider equity allocation that would typically alter sponsorship conduct, trust reserve dynamics, extension feasibility, or redemption pressure preceding the October 31, 2026 deadline. Why it matters: Because the filing documents zero executive purchases or sales, public shareholders lack contemporaneous sponsor capital deployment to support the $10.63 per share trust floor or mitigate outflows during a target search. The submission attributes only corporate titles and baseline ownership to the reporting individual and contains no further operational disclosures; claims regarding customer bases, revenue generation, market sizing, strategic initiatives, technological development, partnership frameworks, or litigation matters are entirely absent from this record. Consequently, redemption mechanics remain driven solely by public market conditions and SPAC governance filings until a target or extension proposal emerges.
What changed: A Form 8-A filing submitted to register specific classes of securities for quotation on The NASDAQ Stock Market LLC under Section 12(b) of the Securities Exchange Act of 1934. The registrant registered three instrument classes for exchange listing: Units, each comprising one Class A ordinary share and one-half of one redeemable warrant; Class A ordinary shares with a par value of $0.0001 per share; and whole Redeemable warrants exercisable for one Class A ordinary share at an exercise price of $11.50 per share. The filing attributes all structural terms to the description of securities contained in the prospectus within the initial Registration Statement on Form S-1 (File No. 333-283612) initially filed December 4, 2024. No adjustments to redemption windows, trust account balances, extension votes, or business combination milestones are disclosed. Co-Chief Executive Officers Prokopios (Akis) Tsirigakis and George Syllantavos executed the registration on January 28, 2025. Why it matters: This administrative registration locks in the exchange listing parameters for SVCC’s public equity and derivative stack, specifically cementing the $11.50 warrant strike price and verifying active co-executive oversight. Because the document contains no updated financial projections, acquisition pipeline updates, sponsor conduct reports, or shareholder voting records, investors tracking the SEARCHING phase will find no alterations to existing deal-progress trackers or liquidation mechanics. The filing serves strictly as a regulatory maintenance action preserving listing qualification without advancing the underlying transaction timeline.
What changed: A routine compliance correspondence (CORRESP) responding to an SEC staff oral comment regarding inconsistent disclosure of sponsor ownership percentages in the Company’s December 4, 2024 Registration Statement on Form S-1. Loeb & Loeb LLP, writing on behalf of Stellar V Capital Corp., clarified that varying percentage references reflect distinct metrics: founder shares alone represent approximately twenty-six percent assuming full over-allotment exercise or twenty-nine percent assuming no over-allotment exercise, citing cover page anti-dilution mechanics and page 20 resizing provisions. Why it matters: The aligned ownership percentages directly determine the pro-rata dilution applied to redeeming public shares upon conversion, establish the precise voting bloc (~twenty-seven percent to ~thirty percent) required to secure shareholder approval for an initial business combination, and clarify the threshold for amending the trust agreement or charter.
What changed: An SEC Rule 461 correspondence from underwriter BTIG, LLC, formally requesting acceleration of Stellar V Capital Corp.’s amended Form S-1 registration statement (initially filed December 4, 2024, File No. 333-283612) to become effective at 4:00 p.m. ET on Wednesday, January 29, 2025. The filing records no adjustments to redemption deadlines, trust account distributions, extension triggers, merger negotiation status, or sponsor conduct. Why it matters: This administrative submission confirms Stellar V Capital Corp. has cleared prior regulatory comment cycles and is advancing toward IPO pricing and capital deployment. For investors tracking pre-listing execution, it validates the underwriting syndicate’s distribution readiness, but because the document contains zero substantive operational, financial, or transactional disclosures, it does not accelerate the path to a target acquisition, modify any redemption window mechanics, or signal sponsor amendments to the governing charter.
What changed: A Rule 461 correspondence letter submitted to the U.S. Securities and Exchange Commission’s Division of Corporation Finance requesting acceleration of the effectiveness of Registration Statement on Form S-1 (File No. 333-283612) so that it becomes effective at 4:00 p.m. Eastern time on Wednesday, January 29, 2025. The filing does not modify redemption parameters, alter the trust account balance of $10.63 per share, or adjust the business combination deadline of 2026-10-31. It does not disclose a merger candidate, propose an extension, amend shareholder rights, or report sponsor misconduct. Why it matters: Requests for acceleration under Rule 461 signal that management believes prior SEC comment letters have been resolved and that the registration statement meets disclosure standards for pricing. For investors tracking the SPAC’s timeline, the filing confirms administrative momentum toward an IPO listing without changing the 2026-10-31 redemption window, affecting the existing $10.63 trust value, or triggering extension voting mechanics.
What changed: A formal SEC comment response (CORRESP) accompanying Amendment No. 1 to a Form S-1 registration statement, filed January 13, 2025, by outside counsel Giovanni Caruso of Loeb & Loeb LLP on behalf of Stellar V Capital Corp., addressing point-by-point feedback from Securities and Exchange Commission staff dated December 24, 2024. Why it matters: For investors monitoring redemption calendars and trust liquidation triggers, stripping the 30-day cure period tightens the mechanical window between missed deadlines and forced cash returns, ensuring sponsor funding demands cannot delay shareholder redemptions. The explicit 21-month cap removes ambiguity around extension timing, while the newly inserted risk disclosures increase transparency regarding execution uncertainty and potential dilution without altering underlying economics or target strategy.
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.