Meteora Reports 1.11M Shares, 6.94% of Melar Acquisition (MACIW)

Rhea-AI Filing Summary

Meteora Capital, LLC and its managing member Vik Mittal report beneficial ownership of 1,110,289 Class A ordinary shares of Melar Acquisition Corp. I, representing 6.94% of the class. The stake is reported on a Schedule 13G, indicating the holdings are held by funds and managed accounts for which Meteora Capital serves as investment manager.

The filing shows shared voting and shared dispositive power over the shares and records no sole voting or dispositive authority. The statement certifies the securities were acquired and are held in the ordinary course of business and not for the purpose of influencing control of the issuer.

Positive

• Material stake disclosed: Ownership of 1,110,289 shares (6.94%) exceeds the 5% reporting threshold, providing transparency to the market.
• Passive intent declared: The filing is a Schedule 13G with a certification that the securities are held in the ordinary course and not to influence control.

Negative

• No sole voting or dispositive power: The reporting persons hold only shared voting and dispositive power, limiting unilateral influence.
• Potential for coordination: Shared powers indicate coordinated action among funds/accounts, which could consolidate influence without formal control.

Insights

Financial Analyst

TL;DR: A material passive stake disclosed—significant ownership but no sole control or activist intent.

Meteora Capital's 6.94% position is above the 5% SEC disclosure threshold, making it material for investor monitoring. The position is held across funds and managed accounts with shared voting and dispositive power of 1,110,289 shares, which suggests coordinated ownership without unilateral decision-making authority. Because the filing is a Schedule 13G and includes a certification of passive intent, this disclosure signals investor interest rather than an immediate governance change.

Corporate Governance Expert

TL;DR: Reporting shows coordinated minority ownership with limited direct control over corporate decisions.

The filing attributes shared voting and dispositive power to Meteora and identifies Vik Mittal as the managing member, indicating centralized management of the funds' voting decisions while preserving collective rather than sole control. The explicit certification that the shares are held in the ordinary course and not to influence control aligns the filing with a passive investor profile; this reduces immediate governance risk but establishes a visible minority shareholder position that could matter for future engagements.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Melar Acquisition Corp. I/Cayman

(Name of Issuer)

Class A ordinary shares, par value $0.0001 per share

(Title of Class of Securities)

G6004G100

(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. G6004G100

1

Names of Reporting Persons

Meteora Capital, 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 1,110,289.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,110,289.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,110,289.00

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)

6.94 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Melar Acquisition Corp. I/Cayman
(b)	Address of issuer's principal executive offices: 143 West 72nd Street,4th Floor, New York, NY 10023
Item 2.
(a)	Name of person filing: (i) Meteora Capital, LLC, a Delaware limited liability company ("Meteora Capital") with respect to the Common Stock (as defined in Item 2(d)) held by certain funds and managed accounts to which Meteora Capital serves as investment manager (collectively, the "Meteora Funds"); and (ii) Vik Mittal, who serves as the Managing Member of Meteora Capital, with respect to the Common Stock held by the Meteora Funds. The foregoing persons are hereinafter sometimes collectively referred to as the "Reporting Persons." The filing of this statement should not be construed as an admission that any of the Reporting Persons is, for the purposes of Section 13 of the Act, the beneficial owner of the Common Stock reported herein.
(b)	Address or principal business office or, if none, residence: The address of the principal business office for each of the Reporting Persons is: 1200 N Federal Hwy, #200, Boca Raton FL 33432
(c)	Citizenship: Meteora Capital is a Delaware limited liability company. Vik Mittal is a United States citizen.
(d)	Title of class of securities: Class A ordinary shares, par value $0.0001 per share
(e)	CUSIP No.: G6004G100
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: 1,110,289
(b)	Percent of class: 6.94 %
(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: 1,110,289
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 1,110,289
Item 5.	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.

Meteora Capital, LLC

Signature:	Vik Mittal
Name/Title:	Managing Member
Date:	08/14/2025

FAQ

How many Melar Acquisition Corp. (MACIW) shares does Meteora Capital report owning?

The filing reports beneficial ownership of 1,110,289 shares.

What percentage of MACIW does Meteora Capital own?

The reported stake represents 6.94% of the Class A ordinary shares.

Who filed the Schedule 13G for MACIW?

The filing was made by Meteora Capital, LLC and identifies Vik Mittal as the managing member.

Is the stake reported as passive or active?

The Schedule 13G includes a certification that the shares were acquired and are held in the ordinary course of business and are not held to influence control, indicating a passive position.

What voting and dispositive powers are reported?

The reporting persons disclose 0 sole voting/dispositive power and 1,110,289 shared voting and shared dispositive power.