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Westin Acquisition Corp (WSTN) ownership shifts to Ong Hanjie through sponsor sale

(Moderate)
(Neutral)
Form Type
SCHEDULE 13D/A

Rhea-AI Filing Summary

Westin Investment Co. Ltd., EU Asia Holidays Pte. Ltd., and Ong Hanjie report in Amendment No. 1 that each may be deemed to beneficially own 2,247,500 Ordinary Shares of Westin Acquisition Corp., representing 27.9% of 8,055,000 Ordinary Shares outstanding as of May 15, 2026.

The position consists of 2,012,500 Class B ordinary shares and 235,000 Class A ordinary shares underlying Private Placement Units held directly by Westin Investment. Effective July 25, 2026, EU Asia Holidays acquired all shares of Westin Investment from Westin Ventures Holdings Ltd. for US$1.00 and other consideration, so EU Asia and Mr. Ong became indirect beneficial owners; the Issuer’s securities themselves were not transferred.

The amendment reiterates prior arrangements: a subscription for the Founder Shares for $25,000, the purchase of 235,000 Private Placement Units for $2,350,000, voting and non‑redemption commitments tied to completing an initial business combination within 15 months of the IPO closing, and registration rights covering the Sponsor’s securities.

Positive

  • None.

Negative

  • None.

Filing Explained

The sponsor’s private-placement rights remain conditional: 235,000 units carry one-sixth-share entitlements triggered by consummation of the initial business combination.

The sponsor continues to hold 235,000 private-placement units; each unit includes one right entitling its holder to receive one-sixth of one ordinary share when the initial business combination is consummated.

The filing describes this as a conditional share entitlement tied to that future trigger, not as an issuance of the underlying shares.

The reporting persons also state that they have no present plans or proposals concerning the matters listed in Item 4(a) through (j), while reserving the right to develop plans or proposals later.

The key stated trigger is consummation of the initial business combination, because that is when the rights' share entitlement arises.

Beneficial ownership 2,247,500 Ordinary Shares Ordinary Shares beneficially owned collectively by the Reporting Persons
Ownership percentage 27.9% Portion of 8,055,000 Ordinary Shares outstanding as of May 15, 2026
Shares outstanding 8,055,000 Ordinary Shares Issuer’s Ordinary Shares outstanding as of May 15, 2026
Founder Shares 2,012,500 Class B ordinary shares Founder Shares issued to the Sponsor under the securities subscription agreement
Private Placement Units 235,000 units Private Placement Units purchased by the Sponsor in connection with the IPO
Founder Shares purchase price $25,000 Aggregate price paid for 2,012,500 Founder Shares on June 30, 2025
Private Placement Units purchase price $2,350,000 Aggregate price for 235,000 Private Placement Units at $10.00 each
Business combination deadline 15 months Period from IPO closing to complete initial business combination under Letter Agreement
beneficially own financial
"Each Reporting Person may be deemed to beneficially own 2,247,500 Ordinary Shares"
Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.
Founder Shares financial
"the Issuer issued an aggregate of 2,012,500 Class B ordinary shares (the "Founder Shares")"
Founder shares are the ownership stakes given to the people who start a company, often with extra voting power or protections compared with ordinary shares. For investors, they matter because founders’ control and incentives influence decisions about strategy, hiring, and whether the company sells or stays independent — like a family that keeps majority voting rights in a household decision. High founder ownership can mean stable leadership but also a risk that outside shareholders have less influence.
Private Placement Units financial
"the Sponsor purchased 235,000 private placement units (the "Private Placement Units")"
Registration Rights Agreement regulatory
"the Sponsor was granted certain demand and "piggyback" registration rights"
A registration rights agreement is a contract that gives investors the option to have their ownership stakes officially registered with the government, making it easier to sell their shares later. This agreement matters because it provides investors with a clearer path to cash out their investments if they choose, offering more liquidity and confidence in their ability to sell their holdings when desired.
Trust Account financial
"neither the Founder Shares nor the Ordinary Shares underlying the Private Placement Units will participate in any liquidating distribution from the Trust Account"
A trust account is a special bank or brokerage account where assets are held and managed by a designated person or firm (the trustee) for the benefit of another person or group (the beneficiary). It matters to investors because it separates assets from personal or corporate funds, can protect assets, control how and when money is used, and may affect tax or legal rights—think of it as a locked drawer opened only under agreed rules.
Share Transfer Agreement regulatory
"pursuant to the Share Transfer Agreement, EU Asia Holidays acquired all of the issued and outstanding shares"
A share transfer agreement is a legal contract that records the sale or assignment of ownership in a company’s shares from one party to another, spelling out how many shares, the price, any conditions, and steps needed to complete the transfer. It matters to investors because it legally changes who owns and controls the shares, can affect voting rights, company value and liquidity, and sets protections or obligations that influence investment risk and future returns.

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

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FAQ

How many Westin Acquisition Corp (WSTN) shares do the reporting persons beneficially own?

The reporting persons may be deemed to beneficially own 2,247,500 Ordinary Shares of Westin Acquisition Corp, made up of 2,012,500 Class B shares and 235,000 Class A shares underlying Private Placement Units.

What percentage of Westin Acquisition Corp (WSTN) does this 13D/A say is owned?

The filing states that the reporting persons’ 2,247,500 Ordinary Shares represent approximately 27.9% of the issuer’s 8,055,000 Ordinary Shares outstanding as of May 15, 2026, as disclosed in a prior quarterly report.

What transaction triggered this Schedule 13D/A amendment for WSTN?

Effective July 25, 2026, EU Asia Holidays Pte. Ltd. acquired all issued and outstanding shares of Westin Investment Co. Ltd. from Westin Ventures Holdings Ltd. for US$1.00 and other consideration, changing the indirect control of the sponsor entity.

Did the ownership change involve a transfer of Westin Acquisition Corp (WSTN) securities?

The filing explains that the Share Transfer Agreement did not transfer any Westin Acquisition Corp securities. It only changed the indirect ownership and ultimate control of Westin Investment, which continues to directly hold the Founder Shares and Private Placement Units.

What prior investments in WSTN did the sponsor Westin Investment Co. Ltd. make?

Westin Investment purchased 2,012,500 Founder Shares for $25,000 on June 30, 2025, and 235,000 Private Placement Units at $10.00 each, totaling $2,350,000, simultaneously with the issuer’s initial public offering on November 5, 2025.

What voting and redemption commitments affect the WSTN sponsor’s shares?

Under a November 3, 2025 Letter Agreement, the sponsor agreed to vote its Founder and private placement shares for the initial business combination, not redeem these shares, and accept that they will not participate in any Trust Account liquidating distributions if no combination occurs within 15 months.





G9584S106

(CUSIP Number)
Ong Hanjie
c/o Suite 1165-L, 3 Coleman Street #03-24
Singapore, U0, 179804
65 9488 4425

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
07/25/2026

(Date of Event Which Requires Filing of This Statement)


If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).




schemaVersion:


SCHEDULE 13D




Comment for Type of Reporting Person:
Includes (i) 2,012,500 Class B ordinary shares of the Issuer, par value $0.0001 per share, and (ii) 235,000 Class A ordinary shares underlying the Private Placement Units held directly by Westin Investment Co. Ltd. (the "Sponsor"). Effective July 24, 2026, EU Asia Holidays Pte. Ltd. acquired all of the issued and outstanding shares of the Sponsor from Westin Ventures Holdings, Ltd., and the Sponsor is now wholly owned by EU Asia Holidays Pte. Ltd., which is wholly owned by Mr. Ong Hanjie. Based on 8,055,000 Ordinary Shares outstanding as of May 15, 2026 (as reported in the Issuer's Quarterly Report on Form 10-Q for the quarter ended March 31, 2026), the Reporting Person beneficially owns approximately 27.9% of the Issuer's outstanding Ordinary Shares.


SCHEDULE 13D




Comment for Type of Reporting Person:
Includes (i) 2,012,500 Class B ordinary shares of the Issuer, par value $0.0001 per share, and (ii) 235,000 Class A ordinary shares underlying the Private Placement Units held directly by Westin Investment Co. Ltd. (the "Sponsor"). EU Asia Holidays Pte. Ltd. is the sole shareholder of the Sponsor and may be deemed to beneficially own the securities held directly by the Sponsor. EU Asia Holidays Pte. Ltd. is wholly owned by Mr. Ong Hanjie, who may be deemed to beneficially own such securities by virtue of his ownership and control of EU Asia Holidays Pte. Ltd. Based on 8,055,000 Ordinary Shares outstanding as of May 15, 2026, the Reporting Person beneficially owns approximately 27.9% of the Issuer's outstanding Ordinary Shares.


SCHEDULE 13D




Comment for Type of Reporting Person:
Includes (i) 2,012,500 Class B ordinary shares of the Issuer, par value $0.0001 per share, and (ii) 235,000 Class A ordinary shares underlying the Private Placement Units held directly by Westin Investment Co. Ltd. (the "Sponsor"). Mr. Ong Hanjie is the sole owner of EU Asia Holidays Pte. Ltd., which is the sole shareholder of the Sponsor, and may be deemed to beneficially own the securities held directly by the Sponsor by virtue of such ownership and control. Based on 8,055,000 Ordinary Shares outstanding as of May 15, 2026, the Reporting Person beneficially owns approximately 27.9% of the Issuer's outstanding Ordinary Shares.


SCHEDULE 13D


Westin Investment Co. Ltd.
Signature:/s/ Ong Hanjie
Name/Title:Ong Hanjie/Director
Date:07/28/2026
EU Asia Holidays Pte. Ltd.
Signature:/s/ Ong Hanjie
Name/Title:Ong Hanjie/Director
Date:07/28/2026
Ong Hanjie
Signature:/s/ Ong Hanjie
Name/Title:Ong Hanjie
Date:07/28/2026