Thunder Bridge holder reveals 8.5% passive stake

Thunder Bridge Capital Partners V, Ltd. (TBCVU) received a Schedule 13G reporting that MMCAP International Inc. SPC and MM Asset Management Inc. jointly hold a passive ownership stake in its Common Shares (Units).

Rhea-AI Filing Summary

Thunder Bridge Capital Partners V, Ltd. (TBCVU) received a Schedule 13G reporting that MMCAP International Inc. SPC and MM Asset Management Inc. jointly hold a passive ownership stake in its Common Shares (Units). The reporting persons beneficially own 2,550,000 units, representing 8.5% of the class, with shared voting and dispositive power over all of these units and no sole voting or dispositive power. The ownership percentage is calculated based on 30,015,000 issuer units outstanding as of August 13, 2026. The parties entered into a Joint Filing Agreement to report this position together.

Key Figures

Beneficial ownership: 2,550,000 units Percent of class owned: 8.5 % Issuer units outstanding: 30,015,000 units +2 more

5 metrics

Beneficial ownership 2,550,000 units Common Shares (Units) beneficially owned by the reporting persons

Percent of class owned 8.5 % Ownership percentage of Thunder Bridge Capital Partners V, Ltd. Common Shares (Units)

Issuer units outstanding 30,015,000 units Issuer units outstanding as of August 13, 2026 used for ownership calculation

Shared voting power 2,550,000 units Units over which the reporting persons share voting power

Shared dispositive power 2,550,000 units Units over which the reporting persons share dispositive power

Key Terms

beneficially owned, shared voting power, shared dispositive power, Joint Filing Agreement

4 terms

beneficially owned regulatory

"Amount beneficially owned: 2,550,000"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

shared voting power regulatory

"Shared Voting Power 2,550,000.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

shared dispositive power regulatory

"Shared Dispositive Power 2,550,000.00"

Joint Filing Agreement regulatory

"Exhibit 99.1 Joint Filing Agreement"

FAQ

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

What ownership stake in TBCVU is reported on this Schedule 13G?

The filing reports that the investors beneficially own 2,550,000 Common Share units of TBCVU, representing 8.5% of the outstanding class. This percentage is based on 30,015,000 issuer units outstanding as of August 13, 2026.

Who are the reporting persons on the TBCVU Schedule 13G?

The Schedule 13G for TBCVU is filed jointly by MMCAP International Inc. SPC and MM Asset Management Inc.. They report shared voting and investment power over the same 2,550,000 Common Share units of Thunder Bridge Capital Partners V, Ltd.

How much voting power over TBCVU units do the reporting persons share?

The reporting persons have shared voting power over 2,550,000 units of TBCVU and no sole voting power. They likewise share dispositive power over the same number of units, reflecting their joint control over these securities.

What is the basis for the 8.5% ownership calculation in TBCVU?

The 8.5% ownership disclosed for TBCVU is computed using 30,015,000 issuer units outstanding as of August 13, 2026. Against this base, the 2,550,000 units beneficially owned by the reporting persons yield the stated percentage of class.

Do the reporting persons have sole dispositive power over TBCVU units?

No. The filing shows 0 units with sole dispositive power and 2,550,000 units with shared dispositive power. This means decisions to sell or otherwise dispose of the TBCVU units are made on a shared, rather than individual, basis.

What agreement governs the joint Schedule 13G filing for TBCVU?

The parties entered into a Joint Filing Agreement, provided as Exhibit 99.1. This agreement allows MMCAP International Inc. SPC and MM Asset Management Inc. to report their 2,550,000-unit TBCVU position together on a single Schedule 13G.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/19/2026 - 03:55 PM Accepted by SEC EDGAR 08/17/2026 - 03:15 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Thunder Bridge Capital Partners V, Ltd.

(Name of Issuer)

Common Shares (Units)

(Title of Class of Securities)

G8858A122

(CUSIP Number)

08/13/2026

(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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): G8858A122

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 2,550,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,550,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,550,000.00

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)

8.5 %

12

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person: Based on 30,015,000 outstanding Issuer units as of August 13, 2026

SCHEDULE 13G

CUSIP Number(s): G8858A122

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 2,550,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,550,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,550,000.00

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)

8.5 %

12

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person: Based on 30,015,000 outstanding Issuer units as of August 13, 2026

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Thunder Bridge Capital Partners V, Ltd.
(b)	Address of issuer's principal executive offices: 9912 Georgetown Pike, Suite D203, Great Falls, VA 22066
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: Common Shares (Units)
(e)	CUSIP Number(s): G8858A122
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: 2,550,000
(b)	Percent of class: 8.5%
(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: 2,550,000
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 2,550,000
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:	Ulla Vestergaard
Name/Title:	Director
Date:	08/17/2026

MM Asset Management Inc.

Signature:	Hillel Meltz
Name/Title:	President
Date:	08/17/2026

Exhibit Information

Exhibit 99.1 Joint Filing Agreement