AI Infrastructure Acquisition Corp. (AIIA) holder Wolverine discloses 4.98% ownership

Rhea-AI Filing Summary

AI Infrastructure Acquisition Corp. investor Wolverine Asset Management, together with Wolverine Holdings, Christopher L. Gust and Robert R. Bellick, reports beneficial ownership of 732,165 Class A ordinary shares in this amended Schedule 13G.

Each reporting person may be deemed to own 4.98% of the outstanding Class A ordinary shares, based on 14,690,000 shares outstanding as of May 12, 2026. They hold 0 shares with sole voting or dispositive power and 732,165 shares with shared voting and dispositive power, and state that they own 5 percent or less of this class.

Key Figures

Shares beneficially owned: 732,165 shares Percent of class: 4.98% Shares outstanding: 14,690,000 shares +2 more

5 metrics

Shares beneficially owned 732,165 shares Class A ordinary shares beneficially owned by each reporting person

Percent of class 4.98% Percent of outstanding Class A ordinary shares beneficially owned

Shares outstanding 14,690,000 shares Outstanding Class A ordinary shares as of May 12, 2026, used for ownership calculation

Sole voting power 0 shares Shares over which the reporting persons have sole voting power

Shared voting power 732,165 shares Shares over which the reporting persons have shared voting and dispositive power

Key Terms

beneficial owner, shared voting power, shared dispositive power, percent of class

4 terms

beneficial owner regulatory

"WAM may be deemed the beneficial owner of 4.98% of the Issuer's outstanding"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

shared voting power regulatory

"Shared Voting Power 732,165.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

shared dispositive power regulatory

"Shared Dispositive Power 732,165.00"

percent of class financial

"Percent of class: WAM may be deemed the beneficial owner of 4.98%"

Percent of class is the portion of a specific category of securities—such as a company’s common shares, preferred shares, or a bond series—that takes part in or approves a corporate action (vote, consent, tender, etc.). Investors watch this number because it reveals how much support or opposition exists within that particular shareholder group; like counting how many members of a club back a proposal, it can determine whether a plan passes or how influence is distributed.

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

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Available on EDGAR 07/16/2026 - 01:31 PM Accepted by SEC EDGAR 07/16/2026 - 01:30 PM Learn about SEC filing dates

FAQ

What stake in AIIA does Wolverine Asset Management report on this Schedule 13G/A?

Wolverine Asset Management and related reporting persons report beneficial ownership of 732,165 Class A ordinary shares of AI Infrastructure Acquisition Corp., representing 4.98% of the company’s outstanding Class A ordinary shares, based on 14,690,000 shares outstanding as of May 12, 2026.

How was the 4.98% ownership in AIIA calculated for Wolverine Asset Management?

The 4.98% ownership is calculated by dividing the 732,165 Class A ordinary shares deemed beneficially owned by each reporting person by 14,690,000 Class A ordinary shares outstanding as of May 12, 2026, as referenced from AI Infrastructure Acquisition Corp.’s Form 10-Q.

What voting power do the Wolverine entities have over AIIA shares?

The reporting persons have 0 shares with sole voting power and 732,165 shares with shared voting power in AI Infrastructure Acquisition Corp. All reported Class A ordinary shares are subject to shared voting authority among Wolverine Asset Management, Wolverine Holdings, Christopher L. Gust and Robert R. Bellick.

What dispositive power do Wolverine Asset Management and affiliates hold over AIIA shares?

They report 0 shares with sole dispositive power and 732,165 shares with shared dispositive power. This means all reported AI Infrastructure Acquisition Corp. Class A ordinary shares can be disposed of only on a shared basis by Wolverine Asset Management, Wolverine Holdings, Christopher L. Gust and Robert R. Bellick.

Who are the reporting persons on the AIIA Schedule 13G/A filing?

The reporting persons are Wolverine Asset Management, LLC, Wolverine Holdings, LLC, Christopher L. Gust and Robert R. Bellick. Each may be deemed to beneficially own the same 732,165 Class A ordinary shares of AI Infrastructure Acquisition Corp., representing 4.98% of the class.

Does this Schedule 13G/A indicate that Wolverine owns 5% or less of AIIA?

Yes. The filing states beneficial ownership of 4.98% of AI Infrastructure Acquisition Corp.’s outstanding Class A ordinary shares and completes the section for ownership of 5 percent or less of a class, confirming the stake is below the 5% threshold.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

AI Infrastructure Acquisition Corp.

(Name of Issuer)

Class A ordinary shares, par value $0.0001 per share

(Title of Class of Securities)

G013361095

(CUSIP Number)

06/30/2026

(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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): G013361095

1

Names of Reporting Persons

Wolverine Asset Management, 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

ILLINOIS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 732,165.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 732,165.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

732,165.00

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)

4.98 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP Number(s): G013361095

1

Names of Reporting Persons

Wolverine Holdings, 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 0.00
6	Shared Voting Power 732,165.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 732,165.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

732,165.00

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)

4.98 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

CUSIP Number(s): G013361095

1

Names of Reporting Persons

Christopher L. Gust

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

ILLINOIS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 732,165.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 732,165.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

732,165.00

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)

4.98 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP Number(s): G013361095

1

Names of Reporting Persons

Robert R. Bellick

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

ILLINOIS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 732,165.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 732,165.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

732,165.00

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)

4.98 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: AI Infrastructure Acquisition Corp.
(b)	Address of issuer's principal executive offices: 10845 Griffith Peak Drive, Suite 200, Las Vegas, Nevada 89135
Item 2.
(a)	Name of person filing: Wolverine Asset Management, LLC Wolverine Holdings, LLC Christopher L. Gust Robert R. Bellick
(b)	Address or principal business office or, if none, residence: c/o Wolverine Asset Management, LLC 175 West Jackson Boulevard, Suite 340 Chicago, IL 60604
(c)	Citizenship: Wolverine Asset Management, LLC - Illinois Wolverine Holdings, LLC - Delaware Christopher L. Gust - U.S. Citizen Robert R. Bellick - U.S. Citizen
(d)	Title of class of securities: Class A ordinary shares, par value $0.0001 per share
(e)	CUSIP No.: G013361095
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: Wolverine Asset Management, LLC ("WAM") is an investment adviser and has voting and dispositive power over 732,165 Class A ordinary shares of the Issuer. The sole member and manager of WAM is Wolverine Holdings, LLC ("Wolverine Holdings"). Robert R. Bellick and Christopher L. Gust, may be deemed to control Wolverine Holdings in their roles as Managers of Wolverine Holdings. Each of Wolverine Holdings, Mr. Bellick, and Mr. Gust have voting and dispositive power over 732,165 Class A ordinary shares of the Issuer.
(b)	Percent of class: WAM may be deemed the beneficial owner of 4.98% of the Issuer's outstanding Class A ordinary shares and each of Wolverine Holdings, Mr. Bellick, and Mr. Gust may be deemed the beneficial owner of 4.98% of the Issuer's outstanding Class A ordinary shares. Percentages were calculated by dividing the number of shares deemed beneficially owned by each reporting person by 14,690,000 (the number of shares outstanding as of May 12, 2026 according to the Issuer's Form 10-Q filed May 12, 2026).
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: WAM has shared power to vote or direct the vote of 732,165 Class A ordinary shares of the Issuer, and each of Wolverine Holdings, Mr. Bellick, and Mr. Gust has shared power to vote or direct the vote of 732,165 Class A ordinary shares of the Issuer, in each case as set forth in Item4(a) above.
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: WAM has shares power to dispose, or direct the disposition, of 732,165 Class A ordinary shares of the Issuer, and each of Wolverine Holdings, Mr. Bellick, and Mr. Gust has shared power to dipose, or direct the disposition, of 732,165 Class A ordinary shares of the Issuer, in each case as set forth in Item4(a) above.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
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.

Wolverine Asset Management, LLC

Signature:	/s/ Kenneth L. Nadel
Name/Title:	Kenneth L. Nadel, Chief Operating Officer
Date:	07/14/2026

Wolverine Holdings, LLC

Signature:	/s/ Christopher L. Gust
Name/Title:	Christopher L. Gust, Managing Member
Date:	07/14/2026

Christopher L. Gust

Signature:	/s/ Christopher L. Gust
Name/Title:	Christopher L. Gust
Date:	07/14/2026

Robert R. Bellick

Signature:	/s/ Robert R. Bellick
Name/Title:	Robert R. Bellick
Date:	07/14/2026