ACP Holdings Acquisition Corp. (ACGC) entered into a Business Combination Agreement to merge its wholly owned Merger Sub with May Mobility, Inc., with May Mobility becoming a wholly owned subsidiary after ACP domesticates from Cayman to Delaware and is renamed May Mobility, Inc. The purchase price for May Mobility is $1,350,000,000, payable in ACP common stock, and the combined company is described in the press release as having an implied pro forma enterprise value of approximately $1.4 billion. The deal is supported by a fully committed $120 million PIPE in 12.0% Series A Cumulative Convertible Preferred Stock plus warrants, and closing is conditioned on, among other items, shareholder approvals, completion of the domestication and a minimum cash of at least $120 million from the trust and PIPE proceeds by an outside date of May 26, 2027.
Polar Asset Management Partners Inc., an Ontario, Canada-based investment advisor, reported beneficial ownership of Class A ordinary shares of ACP Holdings Acquisition Corp.. Polar acts as investment advisor to Polar Multi-Strategy Master Fund, which directly holds the shares.
Polar reports beneficial ownership of 1,605,150 Class A ordinary shares, representing 7.3% of the class. It has sole voting power and sole dispositive power over all 1,605,150 shares, with no shared voting or dispositive power.
ACP Holdings Acquisition Corp. has a significant shareholder group led by Magnetar entities and David J. Snyderman. As of June 30, 2026, they collectively reported beneficial ownership of 1,600,000 Class A ordinary shares of ACGC, representing 7.29% of the outstanding Class A shares. These shares are held across several Magnetar-managed funds, including Constellation Master Fund, Structured Credit Fund, Alpha Star Fund, Lake Credit Fund, Xing He Master Fund, Waterfront Series A Fund, and Capital Master Fund.
The reporting persons have shared voting and dispositive power over all 1,600,000 shares, with no sole voting or dispositive power. The ownership percentage is based on 21,946,600 shares outstanding, as referenced from the issuer’s Form 10-Q. The filing is made jointly by Magnetar Financial LLC, Magnetar Capital Partners LP, Supernova Management LLC, and Mr. Snyderman.
ACP Holdings Acquisition Corp., a Cayman Islands-based blank check company, reported its first quarterly results since its April 2026 IPO. Total assets were $218.4 million as of June 30, 2026, including $217.4 million invested in a Trust Account for a future business combination and $746,223 in cash equivalents for operating needs.
The company generated net income of $1.17 million for the three months ended June 30, 2026, driven by $1.69 million of interest income on Trust investments and a gain from the change in fair value of the over-allotment option, partially offset by $603,119 of formation, general and administrative costs. All 21,461,600 publicly held Class A ordinary shares are classified as subject to possible redemption at $10.13 per share.
Working capital was $833,794, and management discloses that current liquidity is not sufficient to fund operations for at least one year at expected spending levels. If no initial business combination is completed within the 18‑month Completion Window ending October 8, 2027, the company will redeem public shares and liquidate, creating substantial doubt about its ability to continue as a going concern.
Adage Capital Management, L.P., Robert Atchinson, and Phillip Gross reported beneficial ownership of Class A Ordinary Shares of ACP Holdings Acquisition Corp. They collectively report 1,800,000 Class A shares, representing 8.20% of the class, with shared voting and dispositive power and no sole power.
The ownership percentage is based on 21,946,600 Class A shares outstanding as of May 14, 2026, as stated in the company’s quarterly report for the period ended March 31, 2026. The shares are held through Adage Capital Partners, L.P., with Adage entities acting as investment manager and general partners.
ACP Holdings Acquisition Corp. announced that holders of its 21,461,600 units from the initial public offering may begin separately trading the Class A ordinary shares and warrants on or about May 28, 2026. Any units not separated will continue to trade under the symbol ACGCU, while the shares and warrants will trade under ACGC and ACGCW.
The units were originally sold at $10.00 per unit, generating gross proceeds of $200,000,000 from 20,000,000 units, plus an additional 1,461,600 units from partial over-allotment exercise. The filing also reports that the sponsor forfeited 512,800 Class B ordinary shares after the over-allotment option expired, modestly reducing the sponsor’s founder share position.
ACP Holdings Acquisition Corp., a newly formed Cayman Islands blank check company, reported its first quarterly results with no operating revenue and a net loss of $58,323 from formation, general and administrative costs for the period from January 28, 2026 through March 31, 2026.
As of March 31, 2026, the company had total assets of $483,989, all related to prepaid and deferred offering costs, total liabilities of $517,312, and a shareholders’ deficit of $33,323, with no cash and a working capital deficit of $488,199.
Subsequent to quarter end, ACP completed its initial public offering of 20,000,000 units at $10.00 per unit, a private placement of 485,000 units, and a partial over-allotment exercise of 1,461,600 units, resulting in $215,689,080 being placed in a U.S. trust account at $10.05 per unit to fund a future business combination within an 18‑month completion window.
ACP Holdings Acquisition Corp. reported initial insider holdings in its Class B founder shares. Union Street Sponsor, LLC is shown as the direct owner of 7,153,867 Class B ordinary shares, each with a par value of $0.0001 per share.
According to the disclosure, these Class B shares were originally 7,666,667 founder shares acquired by the Sponsor under a subscription agreement, before 512,800 founder shares were forfeited back to the company based on the underwriters’ over-allotment option. The Class B ordinary shares automatically convert into Class A ordinary shares on a one-for-one basis at the time of the company’s initial business combination, or earlier at the holder’s option, and have no expiration date.
The filing explains that Union Street Management Sponsor, LLC is the managing member of the Sponsor, and that Andrew Mallozzi, the company’s CEO and Chairman, is the managing member of Union Street Management Sponsor, LLC with voting and investment discretion over the securities held by the Sponsor. Mr. Mallozzi disclaims beneficial ownership of these securities except to the extent of any pecuniary interest.
ACP Holdings Acquisition Corp. filed an initial Form 3 identifying Sean R. Wallace as a director and reporting person. This filing establishes his status under insider reporting rules and, based on the data provided, does not list any insider share purchases, sales, or other transactions.
ACP Holdings Acquisition Corp. director Jonathan David Urfrig filed an initial Form 3, which is the baseline report of his beneficial ownership in the company’s securities. The data provided shows no reported transactions, holdings entries, or derivative positions associated with him in this filing.