Weiss Asset Management discloses 5.4% NWAX stake in New America Acquisition I (NWAX)
Rhea-AI Filing Summary
New America Acquisition I Corp. (NWAX) received a Schedule 13G reporting that Weiss Asset Management LP, GP LLC and Andrew M. Weiss beneficially own 1,886,812 shares of Class A common stock, representing 5.4% of the class.
The filing shows they have shared power to vote and dispose of these shares, with no sole voting or dispositive power. The stake is held through a private partnership and funds managed by Weiss Asset Management, and each reporting person disclaims beneficial ownership beyond their economic interest.
The securities are stated to be held in the ordinary course of business and not for the purpose of changing or influencing control of the company.
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FAQ
What ownership stake in NWAX does Weiss Asset Management report?
Weiss Asset Management LP and related parties reported beneficial ownership of 1,886,812 shares, equal to 5.4% of New America Acquisition I Corp.'s Class A common stock. This ownership is held with shared voting and dispositive power, not sole control, under this Schedule 13G filing.
Who are the reporting persons in the NWAX Schedule 13G filing?
The Schedule 13G lists three reporting persons: Weiss Asset Management LP, GP LLC, and Andrew M. Weiss, Ph.D. These parties report beneficial ownership of the same 1,886,812 shares, with GP as general partner of Weiss Asset Management and Andrew Weiss as managing member of GP.
How did the NWAX Schedule 13G describe voting and dispositive power?
The filing reports zero sole voting and dispositive power and shared voting and dispositive power over 1,886,812 shares. This means decisions to vote or sell these shares are made collectively under shared authority rather than by any single reporting person acting alone.
What does the NWAX Schedule 13G say about intentions regarding control?
The certification states the securities were acquired and are held in the ordinary course of business, not to change or influence control of New America Acquisition I Corp. It also indicates they are not held in connection with any control-related transaction, except limited nomination activities.
Who signed the NWAX Schedule 13G on behalf of the reporting persons?
The Schedule 13G was signed by Mary Merrigan as Authorized Signatory for Weiss Asset Management LP and GP LLC, and as Attorney-in-Fact for Andrew M. Weiss. Her authority for Andrew Weiss is supported by a power of attorney referenced and incorporated by reference in the filing.