JAK Opportunities and Affiliates Report 9.9% Stake in Lotus Technology via Convertible Debt

A group of entities including JAK Opportunities XXV LLC, ATW Master Fund V LP, and their related parties filed a Schedule 13G disclosing beneficial ownership of 9.9% of Lotus Technology Inc.'s ordinary shares through convertible debt instruments. The ownership structure involves a blocker provision that prevents conversion into shares exceeding 9.99% of outstanding shares. The reporting group consists of JAK Opportunities (holding company), ATW Master Fund V LP (private fund), ATW Partners Opportunities Management (investment manager), and control persons Kerry Propper and Antonio Ruiz-Gimenez. The filing emphasizes that this disclosure does not constitute an admission of beneficial ownership under SEC rules, with all parties disclaiming such ownership except through their pecuniary interests.