Battery Future Acquisition loses Hudson Bay as shareholder

Rhea-AI Filing Summary

Hudson Bay Capital Management LP and its control person Sander Gerber have filed Amendment No. 1 to Schedule 13G for Battery Future Acquisition Corp. (BFAC) stating that they now hold zero Class A Ordinary Shares (CUSIP G0888J108), representing 0 % of the outstanding class.

The filing, triggered as of 30 Jun 2025 and signed 07 Aug 2025, shows that all voting and dispositive powers—sole or shared—have been reduced to 0.00 shares. Hudson Bay previously reported ownership through HB Strategies LLC but now certifies ownership of “5 percent or less,” effectively terminating its status as a significant shareholder. The report is made under Rule 13d-1(b)/(c)/(d) and includes standard certifications that the securities were held in the ordinary course and not for purposes of influencing control.

Key details: (1) Reporting Persons: Hudson Bay Capital Management LP (Delaware limited partnership, investment adviser) and Sander Gerber (U.S. citizen, control person). (2) Issuer address: 8 The Green #18195, Dover, DE 19901. (3) Reporting persons’ office: 290 Harbor Dr., Stamford, CT 06902.

Implication: an institutional holder has fully exited its position, potentially reducing institutional sponsorship and float concentration, but the filing contains no commentary on BFAC’s operations or outlook.

Positive

• None.

Negative

• Hudson Bay Capital Management LP and Sander Gerber report owning 0 Class A shares, reducing their stake to 0 % of Battery Future Acquisition Corp.
• The complete exit of a previously reportable institutional holder may diminish liquidity and perceived institutional support for BFAC.

Insights

Securities Analyst

TL;DR: Hudson Bay discloses 0 % stake—signals complete exit, mildly negative for institutional support.

Hudson Bay’s amended 13G eliminates its prior reportable ownership in BFAC. For investors, the withdrawal of an event-driven fund can reduce trading liquidity and perceived institutional endorsement, although BFAC (a SPAC) still awaits a business combination. Because no economic terms of disposal are given, valuation impact is indirect: fewer locked-up shares but potential sentiment drag. The filing is strictly compliance-driven with no operational data.

Corporate Governance Expert

TL;DR: Exit removes a prior 5 %+ holder; governance influence now minimal.

Hudson Bay and Gerber disclaim any voting or dispositive power, confirming they will no longer be considered insiders under Section 13(d). This reduces the possibility of coordinated activism and simplifies BFAC’s ownership ledger. From a governance lens, the change is neutral to slightly negative: the company loses a sophisticated investor whose monitoring might have benefited minority holders.

08/07/2025 - 04:50 PM

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Battery Future Acquisition Corp.

(Name of Issuer)

Class A Ordinary Shares, par value $0.0001

(Title of Class of Securities)

G0888J108

(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. G0888J108

1

Names of Reporting Persons

Hudson Bay Capital Management LP

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 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

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)

0 %

12

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13G

CUSIP No. G0888J108

1

Names of Reporting Persons

Sander Gerber

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 STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

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)

0 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Battery Future Acquisition Corp.
(b)	Address of issuer's principal executive offices: 8 The Green, #18195, Dover, DE 19901
Item 2.
(a)	Name of person filing: This statement is filed by Hudson Bay Capital Management LP (the "Investment Manager") and Mr. Sander Gerber ("Mr. Gerber"), who are collectively referred to herein as "Reporting Persons."
(b)	Address or principal business office or, if none, residence: The address of the business office of each of the Reporting Persons is 290 Harbor Dr., Stamford, CT 06902.
(c)	Citizenship: The Investment Manager is a Delaware limited partnership. Mr. Gerber is a United States citizen.
(d)	Title of class of securities: Class A Ordinary Shares, par value $0.0001
(e)	CUSIP No.: G0888J108
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: The information required by Item 4(a) is set forth in Row 9 of the cover page for each of the Reporting Persons and is incorporated herein by reference. The Investment Manager serves as the investment manager to HB Strategies LLC, in whose name the securities reported herein were held. As such, the Investment Manager may have been deemed to be the beneficial owner of all Class A Ordinary Shares held by HB Strategies LLC. Mr. Gerber serves as the managing member of Hudson Bay Capital GP LLC, which is the general partner of the Investment Manager. Mr. Gerber disclaims beneficial ownership of these securities.
(b)	Percent of class: 0%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: The information required by Item 4(c)(i) is set forth in Row 5 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
	(ii) Shared power to vote or to direct the vote: The information required by Item 4(c)(ii) is set forth in Row 6 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
	(iii) Sole power to dispose or to direct the disposition of: The information required by Item 4(c)(iii) is set forth in Row 7 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
	(iv) Shared power to dispose or to direct the disposition of: The information required by Item 4(c)(iv) is set forth in Row 8 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
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.
	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(a).
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.

Hudson Bay Capital Management LP

Signature:	/s/ Sander Gerber
Name/Title:	Sander Gerber, Authorized Signatory
Date:	08/07/2025

Sander Gerber

Signature:	/s/ Sander Gerber
Name/Title:	Sander Gerber, Individually
Date:	08/07/2025

FAQ

Why did Hudson Bay file an amended Schedule 13G on BFAC?

To report that it has reduced its beneficial ownership to 0 %, falling below the 5 % reporting threshold.

How many BFAC Class A shares does Hudson Bay now own?

The filing lists 0.00 shares beneficially owned, with no voting or dispositive power.

What is Hudson Bay’s new ownership percentage in BFAC?

The aggregate amount represents 0 % of the outstanding Class A shares.

Who are the reporting persons in this Schedule 13G/A?

Hudson Bay Capital Management LP (investment adviser) and Sander Gerber (control person).

What date triggered the filing requirement?

The event date listed is 30 June 2025, with the form signed on 07 August 2025.

Does the filing indicate any intention to influence BFAC’s control?

No; the certification states the securities were held in the ordinary course and not to influence control.