First Trust Discloses >6% Stakes in AA Mission Acquisition (AAM)

Rhea-AI Filing Summary

AA Mission Acquisition Corp. received a joint Schedule 13G/A disclosing that First Trust Merger Arbitrage Fund (VARBX) beneficially owned 2,700,502 Ordinary Shares (6.14% of the class) and that First Trust Capital Management L.P., First Trust Capital Solutions L.P. and FTCS Sub GP LLC collectively beneficially owned 3,019,542 Ordinary Shares (6.87%) as of June 30, 2025. The filing identifies FTCM as investment adviser to the client accounts holding the shares and identifies FTCS and Sub GP as control persons of FTCM.

The statement includes a certification that the securities were acquired and are held in the ordinary course of business and were not acquired to change or influence control. The Schedule 13G/A is signed on August 14, 2025 and includes a Joint Filing Agreement as an exhibit.

Positive

• Filed a joint Schedule 13G/A providing clear ownership disclosure for AA Mission Acquisition Corp.
• Reported material minority stakes with specific counts: VARBX 2,700,502 shares (6.14%) and FTCM/FTCS/Sub GP 3,019,542 shares (6.87%).
• Includes certification that holdings were acquired and held in the ordinary course of business and not to influence control.

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine disclosure of >6% stakes by First Trust entities; important for transparency but not a control filing.

This joint Schedule 13G/A reports material minority holdings in AA Mission Acquisition Corp., with VARBX holding 2,700,502 shares (6.14%) and FTCM/FTCS/Sub GP collectively holding 3,019,542 shares (6.87%) as of June 30, 2025. The filing explicitly characterizes the holdings as held in the ordinary course of business and not for the purpose of changing control, consistent with Schedule 13G treatment. Impact assessment: not impactful from a control-change perspective, but the disclosure is material for ownership transparency.

Corporate Governance Expert

TL;DR: Disclosure clarifies adviser-client relationships and control-person links; no indication of activist intent.

The document names FTCM as investment adviser to client accounts and identifies FTCS and Sub GP as control persons of FTCM, which may deem them beneficial owners of the reported shares. The filing includes the required certification that the positions were not acquired to influence control. For governance monitoring, this is a notable >5% ownership disclosure but does not signal a change in governance or control. Impact assessment: not impactful regarding immediate governance shifts.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What stake did First Trust Merger Arbitrage Fund report in AA Mission Acquisition (AAM)?

VARBX reported beneficial ownership of 2,700,502 shares, representing 6.14% of the class as of June 30, 2025.

How many shares do First Trust Capital Management and related entities report owning in AAM?

FTCM, First Trust Capital Solutions L.P. and FTCS Sub GP LLC collectively report beneficial ownership of 3,019,542 shares (6.87%).

Was this filing a Schedule 13G or 13D for AAM?

This document is a Schedule 13G/A, indicating the reporting persons characterize the holdings as passive and in the ordinary course of business.

As of what date are the ownership figures reported for AAM?

The ownership amounts are reported as of June 30, 2025, with the Schedule 13G/A signed on August 14, 2025.

Does the filing state the shares were acquired to change control of AAM?

No; the certification states the securities were not acquired and are not held for the purpose of changing or influencing control.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Accepted by SEC EDGAR 08/14/2025 - 09:52 AM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

AA Mission Acquisition Corp.

(Name of Issuer)

Class A Ordinary Shares, par value $0.0001 per share (the "Ordinary Shares")

(Title of Class of Securities)

G1000R101

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. G1000R101

1

Names of Reporting Persons

First Trust Merger Arbitrage Fund

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 2,700,502.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 2,700,502.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,700,502.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.14 %

12

Type of Reporting Person (See Instructions)

IV

SCHEDULE 13G

CUSIP No. G1000R101

1

Names of Reporting Persons

First Trust Capital Management L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 3,019,542.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 3,019,542.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,019,542.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.87 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. G1000R101

1

Names of Reporting Persons

First Trust Capital Solutions L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 3,019,542.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 3,019,542.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,019,542.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.87 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

CUSIP No. G1000R101

1

Names of Reporting Persons

FTCS Sub GP LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 3,019,542.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 3,019,542.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,019,542.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.87 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: AA Mission Acquisition Corp.
(b)	Address of issuer's principal executive offices: 21 WATERWAY AVENUE, STE 300 #9732 THE WOODLANDS, TX 77380.
Item 2.
(a)	Name of person filing: This Schedule 13G/A is being filed jointly by First Trust Merger Arbitrage Fund ("VARBX"), First Trust Capital Management L.P. ("FTCM"), First Trust Capital Solutions L.P. ("FTCS") and FTCS Sub GP LLC ("Sub GP"). (1) VARBX, a series of Investment Managers Series Trust II, an investment company registered under the Investment Company Act of 1940. (2) FTCM, an investment adviser registered with the SEC that provides investment advisory services to, among others, (i) series of Investment Managers Series Trust II, an investment company registered under the Investment Company Act of 1940, specifically First Trust Multi-Strategy Fund and VARBX, (ii) First Trust Alternative Opportunities Fund and (iii) Highland Capital Management Institutional Fund II, LLC, a Delaware limited liability company (collectively, the "Client Accounts"). (3) FTCS, a Delaware limited partnership and control person of FTCM. (4) Sub GP, a Delaware limited liability company and control person of FTCM. Each of the persons identified herein is referred to as a "Reporting Person" and, collectively, as the "Reporting Persons." Each of the Reporting Persons is a party to that certain Joint Filing Agreement attached hereto.
(b)	Address or principal business office or, if none, residence: The principal business address of FTCM, FTCS and Sub GP is 225 W. Wacker Drive, 21st Floor, Chicago, IL 60606. The principal business address of VARBX is 235 West Galena Street, Milwaukee, WI 53212.
(c)	Citizenship: United States
(d)	Title of class of securities: Class A Ordinary Shares, par value $0.0001 per share (the "Ordinary Shares")
(e)	CUSIP No.: G1000R101
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: As investment adviser to the Client Accounts, FTCM has the authority to invest the funds of the Client Accounts in securities (including Ordinary Shares of AA Mission Acquisition Corp. (the "Issuer")) as well as the authority to purchase, vote and dispose of securities, and may thus be deemed the beneficial owner of any shares of the Issuer's Ordinary Shares held in the Client Accounts. As of June 30, 2025 VARBX owned 2,700,502 shares of the outstanding Ordinary Shares of the Issuer FTCM, FTCS and Sub GP collectively owned 3,019,542 shares of the outstanding Ordinary Shares of the Issuer. FTCS and Sub GP may be deemed to control FTCM and therefore may be deemed to be beneficial owners of the Ordinary Shares reported in this Schedule 13G/A. No one individual controls FTCS or Sub GP. FTCS and Sub GP do not own any Ordinary Shares of the Issuer for their own accounts.
(b)	Percent of class: VARBX: 6.14 FTCM, FTCS and Sub GP: 6.87
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: VARBX: 2,700,502 FTCM, FTCS and Sub GP: 3,019,542
	(ii) Shared power to vote or to direct the vote: VARBX: 0 FTCM, FTCS and Sub GP: 0
	(iii) Sole power to dispose or to direct the disposition of: VARBX: 2,700,502 FTCM, FTCS and Sub GP: 3,019,542
	(iv) Shared power to dispose or to direct the disposition of: VARBX: 0 FTCM, FTCS and Sub GP: 0
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. See Item 4.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Item 2.
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

First Trust Merger Arbitrage Fund

Signature:	/s/ Joy Ausili
Name/Title:	Trustee, Vice President and Assistant Secretary
Date:	08/14/2025

First Trust Capital Management L.P.

Signature:	/s/ Chad Eisenberg
Name/Title:	Chief Operating Officer
Date:	08/14/2025

First Trust Capital Solutions L.P.

Signature:	/s/ Chad Eisenberg
Name/Title:	Chief Operating Officer
Date:	08/14/2025

FTCS Sub GP LLC

Signature:	/s/ Chad Eisenberg
Name/Title:	Chief Operating Officer
Date:	08/14/2025

Exhibit Information

Exhibit I: Joint Filing Statement