WEN Acquisition Corp: Amendment No. 4 to a Schedule 13G/A filed by Saba Capital Management, Saba Capital Management GP, LLC and Boaz R. Weinstein reports shared beneficial ownership of 2,044,836 shares of common stock and warrants, representing 6.6% of the class. The percentage is calculated using 30,015,000 shares outstanding as of May 14, 2026 plus 981,614 shares issuable upon exercise of warrants held by the reporting persons.
The filing lists shared voting and dispositive power of 2,044,836 shares for each Reporting Person and identifies Saba-managed funds and accounts as holders of dividend and sale proceeds. Signatures are provided by an authorized signatory under power of attorney dated November 16, 2015.
Positive
None.
Negative
None.
Insights
Saba reports a 6.6% position in WEN Acquisition Corp based on combined outstanding shares and warrant exercisables.
Saba Capital, Saba GP and Boaz R. Weinstein are listed as Reporting Persons with 2,044,836 shares of shared voting and dispositive power. The filing ties the 6.6% calculation to 30,015,000 shares outstanding as of May 14, 2026 plus 981,614 shares issuable upon exercise of warrants held by the Reporting Persons.
Cash‑flow treatment is described as rights of the funds and accounts advised by Saba to receive dividends and sale proceeds. Subsequent filings or amendments will update holdings or percentage calculations if exercised warrants or outstanding share counts change.
Key Figures
Beneficially owned shares:2,044,836 sharesOwnership percentage:6.6%Shares outstanding:30,015,000 shares+1 more
4 metrics
Beneficially owned shares2,044,836 sharesshared voting and dispositive power for each Reporting Person
Ownership percentage6.6%calculated using outstanding shares plus exercisable warrants
Shares outstanding30,015,000 sharesas of May 14, 2026 (used in percentage calculation)
Warrants issuable981,614 sharesshares issuable upon exercise of warrants held by the Reporting Persons
Key Terms
Beneficial ownership, Shared dispositive power, Warrants issuable upon exercise
3 terms
Beneficial ownershipregulatory
"Amount beneficially owned: The information required by Items 4(a) - (c) is set forth"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
Shared dispositive powerregulatory
"Shared Dispositive Power 2,044,836.00"
Warrants issuable upon exercisefinancial
"981,614 Shares issuable upon the exercise of certain warrants held by the Reporting Persons"
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 4)
WEN Acquisition Corp
(Name of Issuer)
Common Shares, par value $0.0001 and Warrants
(Title of Class of Securities)
G9R39C111
(CUSIP Number)
03/31/2026
(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):
G9R39C111
1
Names of Reporting Persons
Saba Capital Management, L.P.
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
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,044,836.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,044,836.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,044,836.00
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)
6.6 %
12
Type of Reporting Person (See Instructions)
PN, IA
Comment for Type of Reporting Person: The denominator of the fraction upon which the percentages are calculated is based on (i) 30,015,000 Shares outstanding as of May 14, 2026 as reported on the Issuer's 10-Q filed with the Securities and Exchange Commission on May 14, 2026 plus (ii) 981,614 Shares issuable upon the exercise of certain warrants held by the Reporting Persons.
SCHEDULE 13G
CUSIP Number(s):
G9R39C111
1
Names of Reporting Persons
Boaz R. Weinstein
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
0.00
6
Shared Voting Power
2,044,836.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,044,836.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,044,836.00
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)
6.6 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: The denominator of the fraction upon which the percentages are calculated is based on (i) 30,015,000 Shares outstanding as of May 14, 2026 as reported on the Issuer's 10-Q filed with the Securities and Exchange Commission on May 14, 2026 plus (ii) 981,614 Shares issuable upon the exercise of certain warrants held by the Reporting Persons.
SCHEDULE 13G
CUSIP Number(s):
G9R39C111
1
Names of Reporting Persons
Saba Capital Management GP, LLC
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
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,044,836.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,044,836.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,044,836.00
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)
6.6 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: The denominator of the fraction upon which the percentages are calculated is based on (i) 30,015,000 Shares outstanding as of May 14, 2026 as reported on the Issuer's 10-Q filed with the Securities and Exchange Commission on May 14, 2026 plus (ii) 981,614 Shares issuable upon the exercise of certain warrants held by the Reporting Persons.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
WEN Acquisition Corp
(b)
Address of issuer's principal executive offices:
180 Grand Avenue, Suite 1530, Oakland, CALIFORNIA 94612
Item 2.
(a)
Name of person filing:
Saba Capital Management, L.P., a Delaware limited partnership ("Saba Capital"), Saba Capital Management GP, LLC, a Delaware limited liability company ("Saba GP"), and Mr. Boaz R. Weinstein (together, the "Reporting Persons"). The Reporting Persons have entered into a Joint Filing Agreement, dated May 22, 2025, pursuant to which the Reporting Persons have agreed to file this statement and any subsequent amendments hereto jointly in accordance with the provisions of Rule 13d-1(k)(1) under the Act. Any disclosures herein with respect to persons other than the Reporting Persons are made on information and belief after making inquiry to the appropriate party. The filing of this statement should not be construed as an admission that any of the forgoing persons or the Reporting Persons is, for the purposes of Section 13 of the Act, the beneficial owner of the Common Stock reported herein.
(b)
Address or principal business office or, if none, residence:
The address of the business office of each of the Reporting Persons is 405 Lexington Avenue, 58th Floor, New York, New York 10174.
(c)
Citizenship:
Saba Capital is organized as a limited partnership under the laws of the State of Delaware. Saba GP is organized as a limited liability company under the laws of the State of Delaware. Mr. Weinstein is a citizen of the United States.
(d)
Title of class of securities:
Common Shares, par value $0.0001 and Warrants
(e)
CUSIP No.:
G9R39C111
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:
The information required by Items 4(a) - (c) is set forth in Rows (5) - (11) of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
(b)
Percent of class:
Not Applicable
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
Not Applicable
(ii) Shared power to vote or to direct the vote:
Not Applicable
(iii) Sole power to dispose or to direct the disposition of:
Not Applicable
(iv) Shared power to dispose or to direct the disposition of:
Not Applicable
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.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
The funds and accounts advised by Saba Capital have the right to receive the dividends from and proceeds of sales from the Common Stock.
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.
Saba Capital Management, L.P.
Signature:
/s/ Michael D'Angelo
Name/Title:
General Counsel
Date:
05/15/2026
Boaz R. Weinstein
Signature:
/s/ Michael D'Angelo
Name/Title:
Authorized Signatory
Date:
05/15/2026
Saba Capital Management GP, LLC
Signature:
/s/ Michael D'Angelo
Name/Title:
Attorney-in-fact*
Date:
05/15/2026
Comments accompanying signature: *** Pursuant to a Power of Attorney dated as of November 16, 2015
Saba Capital reports beneficial ownership of 2,044,836 shares, representing 6.6% of the class. The percentage uses 30,015,000 shares outstanding as of May 14, 2026 plus 981,614 shares issuable upon exercise of certain warrants.
How is the 6.6% ownership percentage calculated for WENN?
The filing bases the percentage on 30,015,000 shares outstanding as of May 14, 2026 plus 981,614 shares issuable upon exercise of warrants held by the Reporting Persons, yielding the reported 6.6% figure.
Do the reporting persons have voting or dispositive power over the WENN shares?
Each Reporting Person reports shared voting power and shared dispositive power of 2,044,836 shares. Sole voting and dispositive power are reported as 0.00 for these entities and the individual.
Who receives dividends or sale proceeds for the WENN shares held by Saba?
The filing states that the funds and accounts advised by Saba Capital have the right to receive dividends from and proceeds of sales of the Common Stock; no further cash‑flow allocation details are provided.
What is the CUSIP for WEN Acquisition Corp securities in this filing?
The filing lists the CUSIP as G9R39C111 for the Common Shares and Warrants referenced in the Schedule 13G/A amendment.
