W. R. Berkley Corporation, through subsidiary Berkley Insurance Company, reports beneficial ownership of Class A ordinary shares of Melar Acquisition Corp. I. The filing states ownership of 795,916 Class A shares, representing 8.3% of the outstanding class.
The reporting persons have shared voting and shared dispositive power over all 795,916 shares, with no sole voting or dispositive power reported. The disclosure is filed as Amendment No. 1 to a Schedule 13G.
Melar Acquisition Corp. I/Cayman reported that Karpus Management, Inc. beneficially owns 961,303 shares of Common stock, representing 10.07% of the class. The filing states Karpus has sole voting and dispositive power over the 961,303 shares. The statement is signed by the firm's Chief Compliance Officer on 07/07/2026.
Melar Acquisition Corp. I amendment to a Schedule 13G/A discloses that Wolverine Asset Management, LLC, Wolverine Holdings, LLC, Christopher L. Gust and Robert R. Bellick report 0 Class A ordinary shares beneficially owned, representing 0% of the outstanding Class A Ordinary Shares. The filing includes signatures dated 07/02/2026.
Melar Acquisition Corp. I held an extraordinary general meeting where shareholders approved an Extension Amendment that lets the SPAC extend its deadline to complete a Business Combination on a monthly basis up to six times, from June 20, 2026 through December 20, 2026, or an earlier date set by the board.
Shareholders also ratified WithumSmith+Brown, PC as independent auditor for the year ending December 31, 2026. In connection with the extension vote, holders of 12,076,077 Class A Public Shares redeemed at about $10.89 per share, for an aggregate of roughly $131.5 million, leaving 3,923,923 Public Shares outstanding.
Melar Acquisition Corp. I/Cayman insiders reported a large internal share conversion. Melar Acquisition Sponsor I LLC elected to convert 5,621,621 Class B ordinary shares into 5,621,621 Class A ordinary shares on a one-for-one basis for no additional consideration.
After the transaction, the sponsor entity holds 5,621,621 Class A ordinary shares and 1 Class B ordinary share. The Class B shares are described as convertible into Class A shares at the holder’s option and having no expiration date. The CEO and COO are indirect beneficiaries through entities that manage the sponsor and disclaim beneficial ownership beyond their economic interests.
Melar Acquisition Corp. I is updating shareholders ahead of a June 16, 2026 extraordinary meeting where they will vote on an extension of the time to complete an initial business combination. The company will continue soliciting proxies, with only holders of ordinary shares as of May 11, 2026 eligible to vote.
The key change is an increase in the maximum monthly amount the sponsor contributes to the trust account during any extension, from the lesser of $40,000 or $0.02 per Public Share not redeemed to the lesser of $80,000 or $0.02 per Public Share not redeemed. Examples show contributions of about $0.015 per share if no shares are redeemed over three months, or about $0.06 per share if 12,000,000 Public Shares are redeemed and 4,000,000 remain outstanding.
Melar Acquisition Corp. I entered into a new sponsor financing arrangement and simplified its share structure. The company issued a promissory note to its sponsor for up to $1,500,000 to fund working capital, bearing interest at 17.5% per year and repayable upon either its initial business combination or liquidation. The sponsor had advanced $223,079.12 under this note as of June 11, 2026, and may elect to convert up to $1,500,000 of principal into company warrants at $1.00 per warrant.
On the same date, the sponsor converted 5,621,621 Class B ordinary shares into an equal number of Class A ordinary shares. After this conversion, there were 21,621,621 Class A ordinary shares and 1 Class B ordinary share outstanding, with the new Class A shares carrying the same transfer and voting restrictions that applied to the former Class B shares.
Melar Acquisition Corp. I disclosed that on May 27, 2026 it entered into an Intercreditor Agreement among Melar, Melar Capital Group LLC, Agile Capital Funding, Agile Lending, YA II PN, Ltd., Everli Global Inc., Salvatore Palella and Palella Holdings. The agreement subordinates Agile Parties’ claims to the Melar and YA lenders until the Senior Obligations are paid in full (the Final Payout Date) and sets customary enforcement, standstill, turnover and consent provisions. The filing notes Melar and Everli intend to file a Registration Statement on Form S-4 in connection with their proposed business combination, and that the full Intercreditor Agreement is filed as Exhibit 10.1.
Melar Acquisition Corp. I entered into an Intercreditor Agreement on May 27, 2026 with Agile Capital Funding, Agile Lending, YA II PN and related parties to set lender priorities for loans to Everli Global Inc. and affiliates.
The agreement designates Melar and YA II PN as senior creditors, with the Agile parties’ claims and collateral rights expressly subordinated to the senior obligations until those senior debts are repaid in full on the defined Final Payout Date. Before that date, Palella Holdings and Salvatore Palella generally cannot make, and the Agile parties cannot accept, payments on subordinated obligations except for limited permitted payments, and any distributions in an insolvency must instead go to the senior creditors.
The Agile parties also agree to enforcement standstill and turnover provisions, may not challenge the senior obligations’ validity or priority, and cannot amend or transfer subordinated obligations without senior creditor consent. The filing notes this structure is separate from Melar’s previously announced merger agreement with Everli and that Melar and Everli plan to file a Form S‑4 registration statement with a proxy statement/prospectus for shareholders regarding the proposed business combination.
Melar Acquisition Corp. I is asking shareholders to approve an extension of its deadline to complete the proposed Everli Business Combination from June 20, 2026, with up to six one‑month extensions through December 20, 2026. Public shareholders may redeem Class A shares around $10.852 per share, based on approximately $173.6 million in the trust as of May 14, 2026, regardless of how they vote. If the extension is implemented, the sponsor or its designees may lend up to the lesser of $40,000 or $0.02 per unredeemed Public Share per month, repayable at closing of a business combination. If the extension is not approved and no deal closes within the current period, the SPAC will redeem all Public Shares and liquidate. Shareholders are also being asked to ratify auditor Withum and to allow adjournment of the meeting if more time is needed to solicit votes.