MMCAP reports 9.1% stake in Cartesian Growth

MMCAP International Inc. SPC and Asset Management Inc. report a 9.1% beneficial ownership stake in Cartesian Growth Corporation II’s Class A ordinary shares.

Rhea-AI Filing Summary

MMCAP International Inc. SPC and Asset Management Inc. report a 9.1% beneficial ownership stake in Cartesian Growth Corporation II’s Class A ordinary shares. They jointly hold 800,000 shares with shared voting and dispositive power and no sole authority over any shares.

The firms certify the holdings were not acquired to change or influence control of the company and are not part of any control-related transaction. This amended Schedule 13G reflects their status as passive investors in Cartesian Growth Corporation II as of December 31, 2025.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What ownership stake in Cartesian Growth Corporation II does MMCAP report (REEUF)?

MMCAP International Inc. SPC and Asset Management Inc. report beneficial ownership of 9.1% of Cartesian Growth Corporation II’s Class A ordinary shares. This corresponds to 800,000 shares with shared voting and dispositive power, as disclosed in their amended Schedule 13G filing.

How many Cartesian Growth Corporation II shares do MMCAP and Asset Management hold?

The filing shows MMCAP International Inc. SPC and Asset Management Inc. beneficially own 800,000 Class A ordinary shares of Cartesian Growth Corporation II. They report shared voting and dispositive power over all these shares and no sole voting or disposal authority.

Are MMCAP and Asset Management seeking control of Cartesian Growth Corporation II (REEUF)?

The investors state the securities were not acquired and are not held to change or influence control of Cartesian Growth Corporation II. They also confirm the holdings are not connected with any transaction intended to affect control, indicating a passive investment posture.

What type of securities do MMCAP and Asset Management own in Cartesian Growth Corporation II?

They hold Class A ordinary shares with a par value of $0.0001 in Cartesian Growth Corporation II. The filing identifies the securities by CUSIP G19305112 and reports beneficial ownership, voting power, and dispositive power details for these shares.

As of what date is the 9.1% ownership in Cartesian Growth Corporation II measured?

The 9.1% beneficial ownership stake is measured as of December 31, 2025. This date is identified as the event triggering the amended Schedule 13G, establishing the reference point for the 800,000 shares of Class A ordinary stock reported.

Who signed the MMCAP and Asset Management ownership filing for Cartesian Growth Corporation II?

The statement was signed by Ulla Vestergaard, Director, and Hillel Meltz, President, both dated February 12, 2026. Their signatures certify that the information provided on beneficial ownership and intent regarding control is true, complete, and correct.

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Accepted by SEC EDGAR 02/13/2026 - 09:10 AM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Cartesian Growth Corporation II

(Name of Issuer)

Class A Ordinary Shares, $0.0001 par value

(Title of Class of Securities)

G19305112

(CUSIP Number)

12/31/2025

(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. G19305112

1

Names of Reporting Persons

MMCAP International Inc. SPC

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

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 800,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 800,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

800,000.00

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)

9.1 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

CUSIP No. G19305112

1

Names of Reporting Persons

MM Asset Management Inc.

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

ONTARIO, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 800,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 800,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

800,000.00

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)

9.1 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Cartesian Growth Corporation II
(b)	Address of issuer's principal executive offices: 505 Fifth Avenue, 15th Floor, New York, NY 10017
Item 2.
(a)	Name of person filing: i) MMCAP International Inc. SPC ii) MM Asset Management Inc.
(b)	Address or principal business office or, if none, residence: i) c/o Mourant Governance Services (Cayman) Limited, 94 Solaris Avenue, Camana Bay, P. O. Box 1348, Grand Cayman KY1-1108, Cayman Islands ii) 161 Bay Street, TD Canada Trust Tower, Suite 2240, Toronto, Ontario M5J 2S1 Canada
(c)	Citizenship: i) Cayman Islands ii) Ontario, Canada
(d)	Title of class of securities: Class A Ordinary Shares, $0.0001 par value
(e)	CUSIP No.: G19305112
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: 800,000
(b)	Percent of class: 9.1%
(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: 800,000
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 800,000
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
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 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.

MMCAP International Inc. SPC

Signature:	/s/ Ulla Vestergaard
Name/Title:	Director
Date:	02/12/2026

MM Asset Management Inc.

Signature:	Hillel Meltz
Name/Title:	President
Date:	02/12/2026

Exhibit Information

Exhibit 99.1 JOINT FILING AGREEMENT