[6-K] SEALSQ Corp Current Report (Foreign Issuer)
Saba Capital Management, L.P., Saba Capital Management GP, LLC and Boaz R. Weinstein filed Amendment No. 18 to Schedule 13D on Nuveen Multi-Asset Income Fund (symbol NMAI) dated 08/04/2025.
The group now beneficially owns 1,640,810 common shares, representing 4.91 % of the 33,425,645 shares outstanding reported in the issuer鈥檚 3/4/25 DEF 14A. All voting and dispositive power is shared; none is held solely. Item 5(e) lists 07/29/2025, the date the reporting persons fell below the 5 % ownership threshold that normally triggers full 13D disclosure obligations.
Approximately $21.26 million of investor capital and ordinary-course margin borrowings were used to acquire the position (Item 3). The amendment updates Items 3, 5 and 7; it states 鈥淧urpose of Transaction: Not Applicable,鈥� providing no new strategic intentions. Funds and accounts advised by Saba Capital retain rights to dividends and sale proceeds. Signatures were executed by Michael D鈥橝ngelo, General Counsel, on behalf of all reporting parties.
Saba Capital Management, L.P., Saba Capital Management GP, LLC e Boaz R. Weinstein hanno presentato l'Emendamento n. 18 al Modulo 13D relativo a Nuveen Multi-Asset Income Fund (simbolo NMAI) in data 04/08/2025.
Il gruppo ora possiede beneficiariamente 1.640.810 azioni ordinarie, rappresentando il 4,91% delle 33.425.645 azioni in circolazione riportate nel DEF 14A del 04/03/25 dell鈥檈mittente. Tutti i poteri di voto e dispositivi sono condivisi; nessuno 猫 detenuto individualmente. L鈥橢lemento 5(e) indica il 29/07/2025 come data in cui le persone segnalanti sono scese al di sotto della soglia del 5%, che normalmente attiva gli obblighi completi di divulgazione del Modulo 13D.
Circa 21,26 milioni di dollari di capitale investito e prestiti ordinari a margine sono stati utilizzati per acquisire la posizione (Elemento 3). L鈥檈mendamento aggiorna gli Elementi 3, 5 e 7; dichiara 鈥淪copo della Transazione: Non Applicabile,鈥� senza fornire nuove intenzioni strategiche. I fondi e i conti gestiti da Saba Capital mantengono i diritti su dividendi e proventi di vendita. Le firme sono state apposte da Michael D鈥橝ngelo, Consigliere Generale, per conto di tutte le parti segnalanti.
Saba Capital Management, L.P., Saba Capital Management GP, LLC y Boaz R. Weinstein presentaron la Enmienda n.潞 18 al Anexo 13D sobre Nuveen Multi-Asset Income Fund (s铆mbolo NMAI) con fecha 04/08/2025.
El grupo ahora posee beneficiosamente 1.640.810 acciones comunes, lo que representa el 4,91 % de las 33.425.645 acciones en circulaci贸n reportadas en el DEF 14A del emisor del 04/03/25. Todo el poder de voto y disposici贸n se comparte; ninguno es individual. El punto 5(e) indica el 29/07/2025 como la fecha en que las personas que informan bajaron del umbral del 5 %, que normalmente activa las obligaciones completas de divulgaci贸n del 13D.
Se utilizaron aproximadamente 21,26 millones de d贸lares de capital de inversionistas y pr茅stamos ordinarios con margen para adquirir la posici贸n (punto 3). La enmienda actualiza los puntos 3, 5 y 7; declara 鈥淧rop贸sito de la Transacci贸n: No Aplicable,鈥� sin proporcionar nuevas intenciones estrat茅gicas. Los fondos y cuentas asesorados por Saba Capital mantienen derechos sobre dividendos y ganancias de venta. Las firmas fueron realizadas por Michael D鈥橝ngelo, Asesor Legal, en nombre de todas las partes informantes.
Saba Capital Management, L.P., Saba Capital Management GP, LLC 氚� Boaz R. Weinstein電� 2025雲� 8鞗� 4鞚检瀽 Nuveen Multi-Asset Income Fund(鞁臣 NMAI)鞐� 雽�頃� Schedule 13D 靾橃爼 鞝�18順鸽ゼ 鞝滌稖頄堨姷雼堧嫟.
頃措嫻 攴鸽９鞚� 順勳灛 1,640,810欤� 氤错喌欤茧ゼ 鞁れ 靻岇湢頃橁碃 鞛堨溂氅�, 鞚措姅 氚滍枆靷潣 2025雲� 3鞗� 4鞚� DEF 14A鞐� 氤搓碃霅� 33,425,645欤� 欷� 4.91%鞐� 頃措嫻頃╇媹雼�. 氇摖 鞚橁舶甓� 氚� 觳橂秳 甓岉暅鞚� 瓿惦彊鞙茧 氤挫湢頃橂┌, 雼弲 氤挫湢電� 鞐嗢姷雼堧嫟. 頃 5(e)鞐愲姅 氤搓碃鞛愱皜 鞚茧皹鞝侅溂搿� 13D 鞝勲┐ 瓿店皽 鞚橂毳� 齑夒皽頃橂姅 5% 靻岇湢甓� 旮办鞚� 頃橅殞頃� 雮犾鞚� 2025雲� 7鞗� 29鞚检澊 氇呾嫓霅橃柎 鞛堨姷雼堧嫟.
鞎� 2,126毵� 雼煬鞚� 韴瀽鞛� 鞛愲掣瓿� 鞚茧皹 毵堨 雽�於滌澊 韽靺� 旆摑鞐� 靷毄霅橃棃鞀惦媹雼�(頃 3). 鞚� 靾橃爼靹滊姅 頃 3, 5 氚� 7鞚� 鞐呺嵃鞚错姼頃橂┌, 鈥滉卑霝� 氇╈爜: 頃措嫻 鞐嗢潓鈥濎澊霛缄碃 氇呾嫓頃橃棳 靸堧鞖� 鞝勲灥鞝� 鞚橂弰毳� 鞝滉车頃橃 鞎婌姷雼堧嫟. Saba Capital鞚� 鞛愲頃橂姅 韼�霌� 氚� 瓿勳電� 氚半嫻旮� 氚� 毵り皝 靾橃澋鞐� 雽�頃� 甓岆Μ毳� 鞙犾頃╇媹雼�. 靹滊獏鞚� 氇摖 氤搓碃 雼轨偓鞛愲ゼ 雽�響滍晿鞐� 氩曤 瓿犽 Michael D鈥橝ngelo臧� 靾橅枆頄堨姷雼堧嫟.
Saba Capital Management, L.P., Saba Capital Management GP, LLC et Boaz R. Weinstein ont d茅pos茅 l鈥橝mendement n掳 18 au Schedule 13D concernant Nuveen Multi-Asset Income Fund (symbole NMAI) dat茅 du 04/08/2025.
Le groupe d茅tient d茅sormais 1 640 810 actions ordinaires en propri茅t茅 b茅n茅ficiaire, repr茅sentant 4,91 % des 33 425 645 actions en circulation telles que rapport茅es dans le DEF 14A de l鈥櫭﹎etteur du 04/03/25. Tous les pouvoirs de vote et de disposition sont partag茅s ; aucun n鈥檈st d茅tenu individuellement. Le point 5(e) mentionne la date du 29/07/2025, date 脿 laquelle les personnes d茅clarantes sont pass茅es sous le seuil de 5 % de d茅tention qui d茅clenche normalement les obligations compl猫tes de divulgation du 13D.
Environ 21,26 millions de dollars de capital investisseur et d鈥檈mprunts ordinaires sur marge ont 茅t茅 utilis茅s pour acqu茅rir la position (point 3). L鈥檃mendement met 脿 jour les points 3, 5 et 7 ; il indique 芦 Objet de la transaction : Non applicable 禄, sans fournir de nouvelles intentions strat茅giques. Les fonds et comptes conseill茅s par Saba Capital conservent les droits aux dividendes et aux produits de la vente. Les signatures ont 茅t茅 appos茅es par Michael D鈥橝ngelo, conseiller juridique, au nom de toutes les parties d茅clarantes.
Saba Capital Management, L.P., Saba Capital Management GP, LLC und Boaz R. Weinstein reichten am 04.08.2025 die 脛nderung Nr. 18 zum Schedule 13D f眉r den Nuveen Multi-Asset Income Fund (Ticker NMAI) ein.
Die Gruppe besitzt nun wirtschaftlich 1.640.810 Stammaktien, was 4,91 % der 33.425.645 ausstehenden Aktien entspricht, wie im DEF 14A des Emittenten vom 04.03.25 angegeben. Alle Stimm- und Verf眉gungsrechte werden gemeinsam gehalten; keine werden allein ausge眉bt. Punkt 5(e) nennt den 29.07.2025 als Datum, an dem die meldenden Personen unter die 5 %-Besitzschwelle gefallen sind, die normalerweise volle 13D-Meldepflichten ausl枚st.
Zur Positionserwerbung wurden etwa 21,26 Millionen US-Dollar an Investorenkapital und gew枚hnlichen Margin-Krediten verwendet (Punkt 3). Die 脛nderung aktualisiert die Punkte 3, 5 und 7 und gibt an: 鈥瀂weck der Transaktion: Nicht anwendbar鈥�, ohne neue strategische Absichten zu offenbaren. Von Saba Capital beratenen Fonds und Konten behalten Rechte an Dividenden und Verkaufserl枚sen. Die Unterschriften wurden von Michael D鈥橝ngelo, General Counsel, im Namen aller meldenden Parteien geleistet.
- Saba retains a sizable 1.64 million-share stake, keeping it a top holder and potential influencer.
- $21.3 million cost basis disclosure demonstrates meaningful, long-standing capital commitment to NMAI.
- Ownership fell below the 5 % threshold, lessening Saba鈥檚 mandatory reporting and perceived activist pressure.
- No strategic purpose disclosed, leaving investors without insight into future engagement plans.
Insights
TL;DR: Stake cut to 4.9%; activism potential moderates鈥攐verall neutral impact.
Saba鈥檚 ownership in NMAI recedes just under the 5 % threshold, a level that lessens regulatory reporting and may reduce its leverage in future shareholder initiatives. However, the firm still controls nearly 1.64 million shares, keeping it among the fund鈥檚 largest holders. With no stated purpose and no change in voting power structure, the filing mainly signals position-sizing rather than a strategic pivot. For investors, the news neither adds fresh catalysts nor raises operational risks, leaving the valuation narrative largely unchanged.
TL;DR: Dropping below 5 % weakens activist pressure鈥攕lightly negative for discount-closure thesis.
NMAI trades at a persistent discount; Saba鈥檚 historic activism was a key rerating hope. By trimming below 5 %, Saba eases continuous 13D scrutiny and signals diminished commitment to push for structural changes such as tender offers or conversions. The absence of a 鈥減urpose鈥� statement underscores this retreat. While the position is not exited, probability of value-unlocking campaigns declines, marginally negative for investors expecting an activist catalyst.
Saba Capital Management, L.P., Saba Capital Management GP, LLC e Boaz R. Weinstein hanno presentato l'Emendamento n. 18 al Modulo 13D relativo a Nuveen Multi-Asset Income Fund (simbolo NMAI) in data 04/08/2025.
Il gruppo ora possiede beneficiariamente 1.640.810 azioni ordinarie, rappresentando il 4,91% delle 33.425.645 azioni in circolazione riportate nel DEF 14A del 04/03/25 dell鈥檈mittente. Tutti i poteri di voto e dispositivi sono condivisi; nessuno 猫 detenuto individualmente. L鈥橢lemento 5(e) indica il 29/07/2025 come data in cui le persone segnalanti sono scese al di sotto della soglia del 5%, che normalmente attiva gli obblighi completi di divulgazione del Modulo 13D.
Circa 21,26 milioni di dollari di capitale investito e prestiti ordinari a margine sono stati utilizzati per acquisire la posizione (Elemento 3). L鈥檈mendamento aggiorna gli Elementi 3, 5 e 7; dichiara 鈥淪copo della Transazione: Non Applicabile,鈥� senza fornire nuove intenzioni strategiche. I fondi e i conti gestiti da Saba Capital mantengono i diritti su dividendi e proventi di vendita. Le firme sono state apposte da Michael D鈥橝ngelo, Consigliere Generale, per conto di tutte le parti segnalanti.
Saba Capital Management, L.P., Saba Capital Management GP, LLC y Boaz R. Weinstein presentaron la Enmienda n.潞 18 al Anexo 13D sobre Nuveen Multi-Asset Income Fund (s铆mbolo NMAI) con fecha 04/08/2025.
El grupo ahora posee beneficiosamente 1.640.810 acciones comunes, lo que representa el 4,91 % de las 33.425.645 acciones en circulaci贸n reportadas en el DEF 14A del emisor del 04/03/25. Todo el poder de voto y disposici贸n se comparte; ninguno es individual. El punto 5(e) indica el 29/07/2025 como la fecha en que las personas que informan bajaron del umbral del 5 %, que normalmente activa las obligaciones completas de divulgaci贸n del 13D.
Se utilizaron aproximadamente 21,26 millones de d贸lares de capital de inversionistas y pr茅stamos ordinarios con margen para adquirir la posici贸n (punto 3). La enmienda actualiza los puntos 3, 5 y 7; declara 鈥淧rop贸sito de la Transacci贸n: No Aplicable,鈥� sin proporcionar nuevas intenciones estrat茅gicas. Los fondos y cuentas asesorados por Saba Capital mantienen derechos sobre dividendos y ganancias de venta. Las firmas fueron realizadas por Michael D鈥橝ngelo, Asesor Legal, en nombre de todas las partes informantes.
Saba Capital Management, L.P., Saba Capital Management GP, LLC 氚� Boaz R. Weinstein電� 2025雲� 8鞗� 4鞚检瀽 Nuveen Multi-Asset Income Fund(鞁臣 NMAI)鞐� 雽�頃� Schedule 13D 靾橃爼 鞝�18順鸽ゼ 鞝滌稖頄堨姷雼堧嫟.
頃措嫻 攴鸽９鞚� 順勳灛 1,640,810欤� 氤错喌欤茧ゼ 鞁れ 靻岇湢頃橁碃 鞛堨溂氅�, 鞚措姅 氚滍枆靷潣 2025雲� 3鞗� 4鞚� DEF 14A鞐� 氤搓碃霅� 33,425,645欤� 欷� 4.91%鞐� 頃措嫻頃╇媹雼�. 氇摖 鞚橁舶甓� 氚� 觳橂秳 甓岉暅鞚� 瓿惦彊鞙茧 氤挫湢頃橂┌, 雼弲 氤挫湢電� 鞐嗢姷雼堧嫟. 頃 5(e)鞐愲姅 氤搓碃鞛愱皜 鞚茧皹鞝侅溂搿� 13D 鞝勲┐ 瓿店皽 鞚橂毳� 齑夒皽頃橂姅 5% 靻岇湢甓� 旮办鞚� 頃橅殞頃� 雮犾鞚� 2025雲� 7鞗� 29鞚检澊 氇呾嫓霅橃柎 鞛堨姷雼堧嫟.
鞎� 2,126毵� 雼煬鞚� 韴瀽鞛� 鞛愲掣瓿� 鞚茧皹 毵堨 雽�於滌澊 韽靺� 旆摑鞐� 靷毄霅橃棃鞀惦媹雼�(頃 3). 鞚� 靾橃爼靹滊姅 頃 3, 5 氚� 7鞚� 鞐呺嵃鞚错姼頃橂┌, 鈥滉卑霝� 氇╈爜: 頃措嫻 鞐嗢潓鈥濎澊霛缄碃 氇呾嫓頃橃棳 靸堧鞖� 鞝勲灥鞝� 鞚橂弰毳� 鞝滉车頃橃 鞎婌姷雼堧嫟. Saba Capital鞚� 鞛愲頃橂姅 韼�霌� 氚� 瓿勳電� 氚半嫻旮� 氚� 毵り皝 靾橃澋鞐� 雽�頃� 甓岆Μ毳� 鞙犾頃╇媹雼�. 靹滊獏鞚� 氇摖 氤搓碃 雼轨偓鞛愲ゼ 雽�響滍晿鞐� 氩曤 瓿犽 Michael D鈥橝ngelo臧� 靾橅枆頄堨姷雼堧嫟.
Saba Capital Management, L.P., Saba Capital Management GP, LLC et Boaz R. Weinstein ont d茅pos茅 l鈥橝mendement n掳 18 au Schedule 13D concernant Nuveen Multi-Asset Income Fund (symbole NMAI) dat茅 du 04/08/2025.
Le groupe d茅tient d茅sormais 1 640 810 actions ordinaires en propri茅t茅 b茅n茅ficiaire, repr茅sentant 4,91 % des 33 425 645 actions en circulation telles que rapport茅es dans le DEF 14A de l鈥櫭﹎etteur du 04/03/25. Tous les pouvoirs de vote et de disposition sont partag茅s ; aucun n鈥檈st d茅tenu individuellement. Le point 5(e) mentionne la date du 29/07/2025, date 脿 laquelle les personnes d茅clarantes sont pass茅es sous le seuil de 5 % de d茅tention qui d茅clenche normalement les obligations compl猫tes de divulgation du 13D.
Environ 21,26 millions de dollars de capital investisseur et d鈥檈mprunts ordinaires sur marge ont 茅t茅 utilis茅s pour acqu茅rir la position (point 3). L鈥檃mendement met 脿 jour les points 3, 5 et 7 ; il indique 芦 Objet de la transaction : Non applicable 禄, sans fournir de nouvelles intentions strat茅giques. Les fonds et comptes conseill茅s par Saba Capital conservent les droits aux dividendes et aux produits de la vente. Les signatures ont 茅t茅 appos茅es par Michael D鈥橝ngelo, conseiller juridique, au nom de toutes les parties d茅clarantes.
Saba Capital Management, L.P., Saba Capital Management GP, LLC und Boaz R. Weinstein reichten am 04.08.2025 die 脛nderung Nr. 18 zum Schedule 13D f眉r den Nuveen Multi-Asset Income Fund (Ticker NMAI) ein.
Die Gruppe besitzt nun wirtschaftlich 1.640.810 Stammaktien, was 4,91 % der 33.425.645 ausstehenden Aktien entspricht, wie im DEF 14A des Emittenten vom 04.03.25 angegeben. Alle Stimm- und Verf眉gungsrechte werden gemeinsam gehalten; keine werden allein ausge眉bt. Punkt 5(e) nennt den 29.07.2025 als Datum, an dem die meldenden Personen unter die 5 %-Besitzschwelle gefallen sind, die normalerweise volle 13D-Meldepflichten ausl枚st.
Zur Positionserwerbung wurden etwa 21,26 Millionen US-Dollar an Investorenkapital und gew枚hnlichen Margin-Krediten verwendet (Punkt 3). Die 脛nderung aktualisiert die Punkte 3, 5 und 7 und gibt an: 鈥瀂weck der Transaktion: Nicht anwendbar鈥�, ohne neue strategische Absichten zu offenbaren. Von Saba Capital beratenen Fonds und Konten behalten Rechte an Dividenden und Verkaufserl枚sen. Die Unterschriften wurden von Michael D鈥橝ngelo, General Counsel, im Namen aller meldenden Parteien geleistet.
FAQ
How many NMAI shares does Saba Capital now own?
What percentage of Nuveen Multi-Asset Income Fund does this represent?
When did Saba鈥檚 ownership fall below the 5 % reporting threshold?
What was the total capital spent to build the disclosed position?
Does the amendment state any new purpose or activist plan?
Who are the reporting persons on this Schedule 13D/A?
