Karpus Management, Inc. filed an amended beneficial ownership statement with the SEC on November 13, 2026, disclosing a 13.73% position in the common shares of Vernal Capital Acquisition Corp. as of September 30, 2026.

Key Highlights

  • Aggregate beneficial ownership: Karpus Management, Inc. reported beneficial ownership of 1,765,025 shares of Vernal Capital Acquisition Corp. common stock.
  • Percent of class: The 1,765,025 shares represent 13.73% of the class, according to the filing.
  • Sole voting and dispositive power: Karpus holds sole voting power and sole dispositive power over all 1,765,025 shares, with no shared voting or dispositive power reported.
  • Event date: The filing identifies September 30, 2026 as the date of the event requiring this statement.
  • Amendment: This filing is designated Amendment No. 1 to a prior beneficial ownership statement.
  • Shares held in client accounts: According to the filing, the shares are owned directly by accounts managed by Karpus, not by Karpus itself on a proprietary basis.

Karpus Investment Management Discloses Position in Vernal Capital Acquisition Corp.

Karpus Management, Inc., doing business as Karpus Investment Management, is a registered investment adviser organized as a New York corporation, with its principal office located at 183 Sully's Trail, Pittsford, New York 14534. The filing states that Karpus is controlled by City of London Investment Group plc, which is listed on the London Stock Exchange. However, according to the filing, effective informational barriers have been established between Karpus and City of London Investment Group plc, such that "voting and investment power over the subject securities is exercised by Karpus independently of CLIG," and attribution of beneficial ownership between the two entities is therefore not required under SEC Release No. 34-39538 dated January 12, 1998.

Vernal Capital Acquisition Corp., the issuer, is a special purpose acquisition company whose principal executive offices are listed at 244 Fifth Avenue, Suite #1845, New York, NY 10001, with common shares identified by CUSIP number G93Y7F106. The filing was signed by Jodi L. Hedberg, Chief Compliance Officer of Karpus Management, Inc., on November 13, 2026. The certification included in the filing states 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."

All 1,765,025 shares are attributable to client accounts managed by Karpus in its capacity as an investment adviser, classified as type "IA" in the filing. No shares involve shared voting or shared dispositive authority with any other person or entity, and the filing reports no group membership, no subsidiary involvement, and no dissolution of any group.

What Was Disclosed

Karpus Management, Inc. filed Amendment No. 1 to its beneficial ownership statement, reporting 1,765,025 common shares of Vernal Capital Acquisition Corp., equal to 13.73% of the class, with the triggering event dated September 30, 2026.