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SPACSphere Acquisition Corp. (SSAC) received an amended Schedule 13G/A from Karpus Management, Inc., reporting its current passive ownership position in the company’s common stock.
Karpus, a registered investment adviser, reports beneficial ownership of 1,199,767 shares of common stock, representing 4.99% of the class. Karpus has sole voting and sole dispositive power over all reported shares, which are held in accounts it manages, and states that its ownership is at or below 5 percent of the class.
SPACSphere Acquisition Corp. is a Cayman Islands SPAC that has not yet begun operating activities and is focused on completing an initial business combination. On May 29, 2026, it entered into a Business Combination Agreement to merge Mobilewalla Holdco, Inc. into a wholly owned subsidiary, with Mobilewalla becoming a direct subsidiary of SPACSphere upon closing.
As of June 30, 2026, total assets were $175.4 million, including $174.9 million of cash and marketable securities in a trust account, largely funded by the February 9, 2026 IPO of 17,250,000 units at $10.00 per unit. For the six months ended June 30, 2026, SPACSphere reported net income of $1,335,802, driven by $2,396,125 of interest income on trust investments, offset by $1,060,323 of general and administrative expenses.
The company held only $229,394 in cash equivalents outside the trust and had a working capital deficit of $556,535. Management discloses that limited liquidity and an obligation to complete a business combination within 15 months of the IPO, or by May 9, 2027, with mandatory liquidation if unsuccessful, raise substantial doubt about its ability to continue as a going concern. Management plans to address this by completing the proposed Mobilewalla transaction or another business combination.
Mizuho Financial Group, Inc., a Japan-based parent holding company, reports beneficial ownership of common shares of SPACSphere Acquisition Corp. Mizuho reports holding 1,012,567 common shares, representing 5.5% of the class, with sole voting and sole dispositive power over these shares and no shared power. The filing states that Mizuho Financial Group, Inc., Mizuho Bank, Ltd. and Mizuho Americas LLC may be deemed indirect beneficial owners of equity securities directly held by Mizuho Securities USA LLC, their wholly owned subsidiary.
SPACSphere Acquisition Corp. entered into a definitive Business Combination Agreement to merge with Mobilewalla Holdco, Inc., a data and vertical agentic AI company. A SPACSphere subsidiary will merge into Mobilewalla, which will become a wholly owned subsidiary.
Before closing, SPACSphere plans to convert its Class B shares into Class A, domesticate from the Cayman Islands to Delaware, and reclassify its securities into New SPACSphere common stock, warrants and rights. After the transaction, SPACSphere will be renamed COVARIATE, INC., with Mobilewalla shareholders receiving New SPACSphere common stock based on an exchange ratio tied to 25,000,000 shares over fully diluted Mobilewalla equity.
Closing is subject to shareholder approvals, SEC effectiveness of a Form S-4 registration statement, Nasdaq listing approvals and customary conditions, including Mobilewalla securing at least $10,000,000 of senior loan financing and efforts to raise additional private capital. Both sides agreed to exclusivity, and key Mobilewalla holders and the SPAC sponsor signed support agreements committing to vote for the deal.
SPACSphere Acquisition Corp. reported net income of $648,348 for the quarter ended March 31, 2026, driven mainly by interest earned on trust investments of $860,706 and offset by general and administrative expenses of $212,358.
The company completed its IPO on February 9, 2026, raising $172,500,000 from 17,250,000 units and an additional $2,794,650 from private placement securities. As of March 31, 2026, $173,360,706 was held in the Trust Account and cash equivalents outside the trust were $308,000.
SPACSphere remains a pre-revenue SPAC with no operating business yet and is still searching for a Business Combination target. Management discloses substantial doubt about the company’s ability to continue as a going concern, citing limited liquidity to fund operations for one year without completing a Business Combination.
SPACSphere Acquisition Corp: Polar Asset Management Partners Inc. reports beneficial ownership of 1,490,000 Class A ordinary shares, representing 8.2% of the class as reported for the period ending 03/31/2026. The statement is filed on Schedule 13G and signed on 05/15/2026.
Highbridge Capital Management filed a Schedule 13G reporting beneficial ownership of 1,390,123 Class A Ordinary Shares of SPACSphere Acquisition Corp. The filing states this equals 7.6% of the class, calculated using 18,200,849 shares outstanding as of March 27, 2026 per the issuer's Form 10-K.
The shares are held directly by Highbridge Funds and Highbridge Tactical Credit Master Fund, L.P. is identified as having the right to receive proceeds for more than 5% of the outstanding Class A Ordinary Shares. The statement is signed by Kirk Rule on May 15, 2026.
The Goldman Sachs Group, Inc. and Goldman Sachs & Co. LLC report beneficial ownership of Class A ordinary shares of SPACSPHERE ACQUISITION CORP. The filing lists 1,321,158 shares representing 7.3% of the class as of 03/31/2026, with shared voting and dispositive power reported. The parties filed a Schedule 13G and a joint filing agreement identifying Goldman Sachs & Co. LLC as the relevant subsidiary.
SPACSphere Acquisition Corp. amendment to a Schedule 13G/A reports that the Harraden group beneficially owns 2 shares of Class A common stock, representing 0% of the class. The filing is an exit filing, stating the Reporting Persons have ceased to be beneficial owners of more than five percent.
The filing lists the Reporting Persons (several Harraden entities and Frederick V. Fortmiller, Jr.), shows shared voting and dispositive power over the 2 shares, and is signed on 05/14/2026.
SPACSphere Acquisition Corp. Schedule 13G: Karpus Management, Inc. reports beneficial ownership of 1,217,210 shares of Common stock, representing 5.08% of the class as of 03/31/2026. The filing states the shares are owned directly by accounts managed by Karpus and notes that Karpus exercises voting and investment power independently of City of London Investment Group plc under established informational barriers.