Wolverine Asset Management, LLC and affiliated reporting persons filed Amendment No. 2 to their beneficial ownership statement with respect to Black Hawk Acquisition Corp. (NASDAQ:BKHA) on November 5, 2026, disclosing a 0.00% ownership position in the issuer's ordinary shares as of October 13, 2026.

Key Highlights

  • Four reporting persons: Wolverine Asset Management, LLC; Wolverine Holdings, LLC; Christopher L. Gust; and Robert R. Bellick are each named in the filing.
  • Zero beneficial ownership: Each reporting person is listed as beneficially owning 0.00% of Black Hawk Acquisition Corp.'s outstanding ordinary shares, par value $0.0001 per share (CUSIP G1148A101).
  • No voting or dispositive power: All four reporting persons report sole and shared voting power of 0.00 and sole and shared dispositive power of 0.00.
  • Triggering event date: The date of the event requiring this filing is stated as October 13, 2026.
  • Issuer address: Black Hawk Acquisition Corp. is listed with principal executive offices at 4125 Blackhawk Plaza Circle, Suite 166, Danville, California 94506.
  • Amendment number: This is designated Amendment No. 2 to the reporting persons' prior statement on the same issuer.

Wolverine Entities and Individual Managers Disclose No Remaining Position in Black Hawk Acquisition

According to the filing, Wolverine Asset Management, LLC ("WAM") is an investment adviser whose sole member and manager is Wolverine Holdings, LLC. Robert R. Bellick and Christopher L. Gust are identified as Managers of Wolverine Holdings and are stated to "may be deemed to control" that entity. Black Hawk Acquisition Corp. is a special purpose acquisition company incorporated with ordinary shares carrying a par value of $0.0001 per share, and its securities are listed on NASDAQ under the ticker BKHA.

The filing states that WAM "has voting and dispositive power over none of the Issuer's ordinary shares," and that the same applies to each of Wolverine Holdings, Mr. Bellick, and Mr. Gust. Each reporting person's aggregate beneficial ownership is reported as 0.00 shares, representing 0.00% of the class. Item 5 of the filing designates this as an ownership of 5 percent or less of a class, consistent with the zero-position disclosure. The filing was signed on November 4, 2026, by Kenneth L. Nadel as Chief Operating Officer of WAM, by Christopher L. Gust as Manager of Wolverine Holdings, and individually by both Mr. Gust and Mr. Bellick.

The certifications included in the filing state 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," as quoted directly from the document. Items 6, 7, 8, and 9 of the filing are each marked "Not Applicable," indicating no group membership, no subsidiary acquisition, and no group dissolution to report.

What Was Disclosed

Amendment No. 2 by Wolverine Asset Management and three affiliated persons reports that, as of October 13, 2026, none of the four reporting persons holds any beneficial ownership, voting power, or dispositive power over ordinary shares of Black Hawk Acquisition Corp.