Barclays PLC Discloses Near-5% Position in BACQU (1.31M Shares)

Rhea-AI Filing Summary

Barclays PLC reports a substantial minority position in Bleichroeder Acquisition Corp. The filing lists an aggregate beneficial ownership of 1,313,263 shares and separately shows an amount beneficially owned of 1,265,821 shares, both tied to a reported 4.98% of the class. The statement indicates Barclays holds sole voting and sole dispositive power for the reported shares and identifies relevant subsidiaries involved in the holdings as Barclays Bank PLC and Barclays Capital Inc. The filing includes a certification that the securities are held in the ordinary course of business and not for the purpose of changing or influencing control.

Positive

• Aggregate beneficial ownership reported as 1,313,263 shares, providing a concrete measure of Barclays' stake
• Filing states sole voting and sole dispositive power for the reported shares, clarifying authority over the position

Negative

• Internal inconsistency in reported share counts (1,313,263 aggregate vs 1,265,821 amount beneficially owned) reduces clarity
• Stake reported at 4.98% sits just below the 5% threshold, meaning disclosure is less stringent than a >5% position and may limit transparency

Insights

Financial Analyst

TL;DR: Barclays discloses a near-5% economic stake in BACQU with sole voting and dispositive power, but internal figure inconsistencies reduce clarity.

The filing reports an aggregate of 1,313,263 shares and an amount beneficially owned of 1,265,821 shares, both associated with 4.98% of the class. For investors this signals a sizable passive stake below the 5% threshold that triggers different reporting regimes. The declaration of sole voting and dispositive power suggests Barclays directly controls the investment decisions for these shares. The document names two subsidiaries as parties involved, which clarifies the chain of holding. However, the inconsistency among reported share counts warrants caution when using these numbers for precise ownership calculations.

Corporate Governance Expert

TL;DR: The Schedule 13G filing positions Barclays as a non-control investor in BACQU but contains conflicting share totals that should be reconciled.

The filer is classified as a parent holding company (HC) and identifies Barclays Bank PLC and Barclays Capital Inc as related subsidiaries involved in the acquisition. Item 10 certification affirms the stake is held in the ordinary course of business and not to influence control, which is consistent with a Schedule 13G disclosure. Governance analysts will note the sole voting/dispositive powers reported, but the mismatch between the aggregate and the amount beneficially owned reduces the filing's clarity and may require follow-up or an explanatory exhibit to confirm the exact position and voting authority.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

BLEICHROEDER ACQUISITION COR

(Name of Issuer)

COMMON-STOCK

(Title of Class of Securities)

G1169T104

(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. G1169T104

1

Names of Reporting Persons

Barclays PLC

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

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,265,821.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,265,821.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,313,263.00

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

Item 1.
(a)	Name of issuer: BLEICHROEDER ACQUISITION COR
(b)	Address of issuer's principal executive offices: 1345 Avenue of the America
Item 2.
(a)	Name of person filing: Barclays PLC
(b)	Address or principal business office or, if none, residence: 1 Churchill Place, London - E14 5HP
(c)	Citizenship: X0
(d)	Title of class of securities: COMMON-STOCK
(e)	CUSIP No.: G1169T104
Item 4.	Ownership
(a)	Amount beneficially owned: 1265821
(b)	Percent of class: 4.98 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 1313263
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 1313263
	(iv) Shared power to dispose or to direct the disposition of: 0
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.
	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. Barclays Bank PLC, Barclays Capital Inc
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.

Barclays PLC

Signature:	Ramya Rao
Name/Title:	Director
Date:	08/12/2025

FAQ

How many BACQU shares does Barclays PLC report owning?

The filing lists an aggregate of 1,313,263 shares and also shows an amount beneficially owned of 1,265,821 shares.

What percentage of BACQU does Barclays PLC own?

The filing reports ownership equal to 4.98% of the class.

Does Barclays have voting control over the BACQU shares?

The filing reports sole voting power and sole dispositive power for the reported shares and 0 shared voting or dispositive power.

Is Barclays filing as a parent holding company for this stake in BACQU?

Yes. The filer is classified as HC and identifies Barclays Bank PLC and Barclays Capital Inc as related subsidiaries.

Were the BACQU securities acquired to influence control of the issuer?

Item 10 certification states the securities are held in the ordinary course of business and not for the purpose of changing or influencing control.