Karpus Management (VECA) reports 1,484,400 shares, 11.88% stake

Rhea-AI Filing Summary

Vernal Capital Acquisition Corp. reported a Schedule 13G filing showing Karpus Management, Inc. beneficially owns 1,484,400 shares of Common stock. The filing states this represents 11.88% of the class as of 05/29/2026, with Karpus holding sole voting and dispositive power over those shares. The statement is signed by Karpus' Chief Compliance Officer on 06/05/2026.

Insights

Portfolio Governance Analyst

Karpus reports a material passive stake of 11.88% in VECA under Schedule 13G.

The filing lists 1,484,400 shares beneficially owned and states Karpus has sole voting and dispositive power over those shares. The position is disclosed as managed accounts of Karpus, which is controlled by CLIG but reports informational barriers.

Cash‑flow treatment and intentions (active trading, disposition plans) are not stated in the excerpt; subsequent filings would disclose any change in status or plans.

Compliance & Regulatory Specialist

The filing follows Schedule 13G passive-investor disclosure conventions and notes informational barriers with CLIG.

The disclosure cites SEC Release No. 34-39538 and explains that attribution to CLIG is not required because Karpus exercises voting and investment power independently. The filing is signed by the Chief Compliance Officer, dated 06/05/2026.

Investors seeking changes to ownership or intent should watch for amendments that would convert this into a Schedule 13D or Form 4 filings.

Key Figures

Shares beneficially owned: 1,484,400 shares Percent of class: 11.88% Filing type: Schedule 13G +3 more

6 metrics

Shares beneficially owned 1,484,400 shares Amount beneficially owned as reported

Percent of class 11.88% Percent of class as reported (as of 05/29/2026)

Filing type Schedule 13G Passive beneficial ownership disclosure

CUSIP G93Y7F106 CUSIP for Common stock

Signature date 06/05/2026 Signed by Chief Compliance Officer

Reporting as of date 05/29/2026 Ownership percentage is reported as of this date

Key Terms

Schedule 13G, beneficially owned, sole dispositive power, informational barriers

4 terms

Schedule 13G regulatory

"This statement is being filed by Karpus Management, Inc."

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

beneficially owned financial

"Amount beneficially owned: 1,484,400.00"

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.

sole dispositive power regulatory

"Sole power to dispose or to direct the disposition of: 1,484,400.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

informational barriers regulatory

"effective informational barriers have been established between Karpus and CLIG"

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

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Available on EDGAR 06/05/2026 - 04:05 PM Accepted by SEC EDGAR 06/05/2026 - 04:04 PM Learn about SEC filing dates

FAQ

What stake does Karpus Management report in VECA?

Karpus Management reports 1,484,400 shares, representing 11.88% of the common stock as of 05/29/2026. The filing states Karpus has sole voting and dispositive power over those shares.

What form was filed for Karpus' disclosure in VECA?

Karpus filed a Schedule 13G disclosure for passive beneficial ownership. The schedule is signed by the Chief Compliance Officer on 06/05/2026 and cites informational barriers to CLIG attribution.

Does the filing indicate Karpus will actively trade or control VECA?

The filing shows sole voting and dispositive power for 1,484,400 shares but does not state any plans to buy, sell, or control the company. No trading intentions or plans are disclosed in the provided excerpt.

Why is CLIG mentioned in the Schedule 13G filed by Karpus?

The filing explains Karpus is controlled by City of London Investment Group plc (CLIG) but cites informational barriers per SEC Release No. 34-39538 so attribution of beneficial ownership to CLIG is not required.

When were the ownership figures reported and signed?

The ownership percentage is reported as of 05/29/2026 and the Schedule 13G is signed by the Chief Compliance Officer on 06/05/2026.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Vernal Capital Acquisition Corp.

(Name of Issuer)

Common

(Title of Class of Securities)

G93Y7F106

(CUSIP Number)

05/29/2026

(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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): G93Y7F106

1

Names of Reporting Persons

KARPUS 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

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,484,400.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,484,400.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,484,400.00

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)

11.88 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Vernal Capital Acquisition Corp.
(b)	Address of issuer's principal executive offices: 244 Fifth Avenue, Suite #1845, New York, NY 10001
Item 2.
(a)	Name of person filing: This statement is being filed by Karpus Management, Inc., d/b/a Karpus Investment Management ("Karpus" or the "Reporting Person"). Karpus is a registered investment adviser under Section 203 of the Investment Advisers Act of 1940. Karpus is controlled by City of London Investment Group plc ("CLIG"), which is listed on the London Stock Exchange. However, in accordance with SEC Release No. 34-39538 (January 12, 1998), effective informational barriers have been established between Karpus and CLIG such that voting and investment power over the subject securities is exercised by Karpus independently of CLIG, and, accordingly, attribution of beneficial ownership is not required between Karpus and CLIG. The Shares to which this Schedule 13G relates are owned directly by the accounts managed by Karpus.
(b)	Address or principal business office or, if none, residence: 183 Sully's Trail, Pittsford, New York 14534.
(c)	Citizenship: The members of the Karpus Management Committee are US citizens. Karpus is a New York corporation.
(d)	Title of class of securities: Common
(e)	CUSIP Number(s): G93Y7F106
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: 1,484,400.00
(b)	Percent of class: 11.88 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 1,484,400.00
	(ii) Shared power to vote or to direct the vote: 0.00
	(iii) Sole power to dispose or to direct the disposition of: 1,484,400.00
	(iv) Shared power to dispose or to direct the disposition of: 0.00
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 acquired and are held in the ordinary course of business and 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.

KARPUS MANAGEMENT, INC.

Signature:	/s/ Jodi L. Hedberg
Name/Title:	Jodi L. Hedberg / Chief Compliance Officer
Date:	06/05/2026