Hudson Bay Capital Management LP and Sander Gerber filed an amended beneficial ownership statement with the SEC on November 10, 2026, disclosing that they hold zero Class A Ordinary Shares of Ribbon Acquisition Corp. as of September 30, 2026.

Key Highlights

  • Zero beneficial ownership: Both Hudson Bay Capital Management LP and Sander Gerber report 0.00 shares beneficially owned in Ribbon Acquisition Corp.
  • 0% of class: The aggregate amount beneficially owned by each reporting person represents 0% of Ribbon Acquisition Corp.'s Class A Ordinary Shares.
  • Triggering event date: The date of the event requiring this filing is listed as September 30, 2026.
  • Amendment filing: This is designated Amendment No. 1 to a prior beneficial ownership statement.
  • HB Strategies LLC named: The filing states that securities are held in the name of HB Strategies LLC, for which Hudson Bay Capital Management LP serves as investment manager.
  • Gerber disclaims ownership: According to the filing, "Mr. Gerber disclaims beneficial ownership of these securities."

Hudson Bay Capital and Gerber Disclose Exit from Ribbon Acquisition Position

According to the filing, Hudson Bay Capital Management LP, a Delaware limited partnership, serves as the investment manager to HB Strategies LLC, the entity in whose name the subject securities are held. The filing states that as a result of this role, the Investment Manager may be deemed to have been the beneficial owner of Class A Ordinary Shares in Ribbon Acquisition Corp. held by HB Strategies LLC. As of the September 30, 2026 triggering event date, however, the aggregate beneficial ownership reported for Hudson Bay Capital Management LP stands at 0.00 shares, representing 0% of the class.

Sander Gerber is identified in the filing as a United States citizen who serves as the managing member of Hudson Bay Capital GP LLC, which is the general partner of the Investment Manager. The filing notes that Mr. Gerber disclaims beneficial ownership of the securities in question. His reported sole voting power, shared voting power, sole dispositive power, and shared dispositive power are each listed as 0.00. Ribbon Acquisition Corp., the issuer, is a special purpose acquisition company whose principal executive offices are listed at Central Park Tower LaTour Shinjuku, Room 3001, 6-15-1 Nishi Shinjuku, Shinjuku-ku, Tokyo 160-0023, Japan. The Class A Ordinary Shares carry a par value of $0.0001 and are identified by CUSIP number G7552W109. Both reporting persons share a business address of 290 Harbor Dr., Stamford, CT 06902, according to the filing.

The filing also certifies, as required, that the securities "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."

What Was Disclosed

Hudson Bay Capital Management LP and Sander Gerber submitted Amendment No. 1 to their beneficial ownership statement for Ribbon Acquisition Corp., reporting zero shares held and 0% of the Class A Ordinary Shares as of September 30, 2026, with Gerber disclaiming any beneficial ownership.