MMCAP discloses 7.7% stake in United Acquisition

MMCAP International Inc. SPC and Asset Management Inc. report beneficial ownership of 1,050,000 Class A ordinary shares of United Acquisition Corp. I, equal to 7.7% of the class.

Accepted by SEC EDGAR 02/05/2026 - 03:24 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

MMCAP International Inc. SPC and Asset Management Inc. report beneficial ownership of 1,050,000 Class A ordinary shares of United Acquisition Corp. I, equal to 7.7% of the class.

The position is held through 1,050,000 units, each convertible into one Class A share, plus warrants exercisable for an additional 262,500 Class A shares. The warrants cannot be exercised for 12 months or until United Acquisition Corp. I completes a business combination. The reporting persons share voting and dispositive power over the 1,050,000 shares and certify that the securities are not held to change or influence control of the issuer.

FAQ

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

What stake in United Acquisition Corp. I (UAC) is disclosed in this Schedule 13G?

The filing discloses beneficial ownership of 1,050,000 Class A ordinary shares, representing 7.7% of the outstanding class. This stake is large enough to trigger a Schedule 13G filing under U.S. securities rules for significant but passive shareholdings.

Who are the reporting persons in the United Acquisition Corp. I (UAC) Schedule 13G?

The reporting persons are MMCAP International Inc. SPC, organized in the Cayman Islands, and Asset Management Inc., based in Ontario, Canada. Both entities report shared voting and shared dispositive power over the same 1,050,000 Class A ordinary shares.

How is the 1,050,000-share position in United Acquisition Corp. I (UAC) structured?

The reported beneficial ownership consists of 1,050,000 units, each convertible into one Class A ordinary share. It also includes warrants that are exercisable for an additional 262,500 Class A ordinary shares, providing potential future equity exposure beyond the initial units.

When can the United Acquisition Corp. I (UAC) warrants related to this stake be exercised?

The warrants tied to this position are not exercisable for 12 months or until United Acquisition Corp. I completes a business combination. This means warrant conversion into Class A shares is delayed until that time-based or transaction-based condition is met.

Do MMCAP and Asset Management intend to influence control of United Acquisition Corp. I (UAC)?

The reporting persons certify the securities were not acquired and are not held to change or influence control of United Acquisition Corp. I. They also state the holdings are not part of any transaction with that control-related purpose or effect, aside from limited nomination activities.

What voting and dispositive powers are reported over United Acquisition Corp. I (UAC) shares?

Both MMCAP International Inc. SPC and Asset Management Inc. report zero sole voting and dispositive power, and 1,050,000 shared voting and shared dispositive power. This indicates decisions over these shares are made jointly or through shared arrangements between the reporting entities.

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

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

United Acquisition Corp. I

(Name of Issuer)

Class A Ordinary Shares, par value $0.0001

(Title of Class of Securities)

G92ALM124

(CUSIP Number)

01/29/2026

(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)

SCHEDULE 13G

CUSIP No. G92ALM124

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 1,050,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,050,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,050,000.00

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)

7.7 %

12

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person: The number of Shares beneficially owned by the Reporting Person consists of 1,050,000 Units, each unit convertible into one Class A Ordinary Share, par value $0.0001, and warrants exercisable for an additional 262,500 Class A Ordinary Shares, par value $0.0001. The warrants are not exercisable for 12 months or until the Issuer enters into a business combination transaction.

SCHEDULE 13G

CUSIP No. G92ALM124

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 1,050,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,050,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,050,000.00

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)

7.7 %

12

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person: The number of Shares beneficially owned by the Reporting Person consists of 1,050,000 Units, each unit convertible into one Class A Ordinary Share, par value $0.0001, and warrants exercisable for an additional 262,500 Class A Ordinary Shares, par value $0.0001. The warrants are not exercisable for 12 months or until the Issuer enters into a business combination transaction.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: United Acquisition Corp. I
(b)	Address of issuer's principal executive offices: 7100 W. Camino Real, Suite 302-48, Boca Raton, FL 33433
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, par value $0.0001
(e)	CUSIP No.: G92ALM124
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: 1,050,000
(b)	Percent of class: 7.7%
(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: 1,050,000
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 1,050,000
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:	02/05/2026

MM Asset Management Inc.

Signature:	Hillel Meltz
Name/Title:	President
Date:	02/05/2026

Exhibit Information

Exhibit 99.1 Joint Filing Agreement