Schedule 13G/A: Saba Capital and Weinstein Report 1.96M-Unit Position in WENNW

Rhea-AI Filing Summary

Saba Capital Management, L.P., Saba Capital Management GP, LLC and Boaz R. Weinstein jointly report beneficial ownership of 1,963,229 units of WENNW, representing 6.54% of the class based on 30,015,000 units outstanding as disclosed in the company's 10-Q. The reported position shows shared voting power and shared dispositive power of 1,963,229 units and no sole voting or dispositive power, and the funds and accounts advised by Saba Capital have rights to dividends and proceeds from the common stock.

The filing was made via a joint filing agreement among the three reporting persons and includes a certification that the securities were not acquired to effect or influence control of the issuer, indicating a passive ownership reporting under Schedule 13G/A rather than an active intent to change control.

Positive

• Beneficial ownership reported: 1,963,229 units, equal to 6.54% of the class based on 30,015,000 units outstanding.
• Economic rights clarified: Funds and accounts advised by Saba Capital have the right to receive dividends and proceeds from sale of the common stock, confirming beneficial interest.

Negative

• No sole control: The filing reports 0 sole voting power and 0 sole dispositive power, indicating the reporting persons do not claim unilateral control.

Insights

Financial Analyst

TL;DR: Saba reports a 6.54% passive stake (1.96M units) held with shared voting/dispositive power; material but not controlling.

The Schedule 13G/A shows a meaningful minority position: 1,963,229 units (6.54%) of the outstanding units. Because the ownership is reported as shared voting and shared dispositive power with no sole power, the filing signals a sizable passive economic interest rather than unilateral governance control. The disclosure that funds and accounts advised by Saba have rights to dividends and proceeds clarifies beneficial ownership alignment with advisory clients. For investors, this is material ownership information but does not indicate an activist or control-seeking posture.

Corporate Governance Expert

TL;DR: Joint filing and shared powers limit unilateral influence despite a >5% stake; governance impact appears limited.

The reporting persons filed jointly and specify shared voting and dispositive powers for 1,963,229 units, with sole powers reported as zero. The filing includes a certification that the securities were not acquired to influence control, consistent with Schedule 13G/A passive treatment. From a governance perspective, the position is material enough to warrant monitoring but, as disclosed, does not itself constitute a change in control or an immediate board/governance threat.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

WEN Acquisition Corp

(Name of Issuer)

Units, no par value

(Title of Class of Securities)

G9R39C111

(CUSIP Number)

06/30/2025

(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. 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 1,963,229.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,963,229.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,963,229.00

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)

6.54 %

12

Type of Reporting Person (See Instructions)

PN, IA

Comment for Type of Reporting Person: The percentages used herein are calculated based upon 30,015,000 units outstanding, as disclosed in the company's 10-Q filed 6/27/25.

SCHEDULE 13G

CUSIP No. 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 1,963,229.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,963,229.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,963,229.00

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)

6.54 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: The percentages used herein are calculated based upon 30,015,000 units outstanding, as disclosed in the company's 10-Q filed 6/27/25.

SCHEDULE 13G

CUSIP No. 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 1,963,229.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,963,229.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,963,229.00

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)

6.54 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: The percentages used herein are calculated based upon 30,015,000 units outstanding, as disclosed in the company's 10-Q filed 6/27/25.

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: Units, no par value
(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.
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:	08/13/2025

Boaz R. Weinstein

Signature:	/s/ Michael D'Angelo
Name/Title:	Authorized Signatory
Date:	08/13/2025

Saba Capital Management GP, LLC

Signature:	/s/ Michael D'Angelo
Name/Title:	Attorney-in-fact*
Date:	08/13/2025

Comments accompanying signature: *** Pursuant to a Power of Attorney dated as of November 16, 2015

FAQ

How many WENNW units does Saba Capital report owning?

1,963,229 units of WENNW are reported as beneficially owned by the reporting persons.

What percentage of WENNW does this holding represent?

6.54% of the class, calculated using 30,015,000 units outstanding as disclosed in the company's 10-Q.

Who are the reporting persons on the Schedule 13G/A for WENNW?

Saba Capital Management, L.P.; Saba Capital Management GP, LLC; and Boaz R. Weinstein filed jointly under a joint filing agreement.

Does the filing indicate Saba Capital seeks to influence control of WENNW?

No. The filing includes a certification stating the securities were not acquired and are not held to change or influence control, consistent with passive Schedule 13G/A reporting.

What voting and dispositive powers are reported?

Shared voting power: 1,963,229 units; shared dispositive power: 1,963,229 units; sole powers: 0.