Who just bought 5% and what they want

“The Reporting Person acquired the securities reported herein for investment purposes and intends to continue to review its investments in the Issuer on an ongoing basis. Except as set forth herein, the Reporting Person does not currently have any specific plan or proposal to acquire or dispose of Common Stock of the Issuer or any securities exercisable for or convertible into Common Stock of the Issuer, but the Reporting Person, consistent with its investment purpose, may at any time and from time to time directly…”

“The Reporting Persons initially acquired the Preferred Stock underlying the Shares for investment purposes only. The Reporting Persons believe that the Issuer is an attractive investment opportunity. Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of Shares at prices that would make the purchase or sale of Shares desirable, the Reporting Persons may endeavor to increase or decrease their respective positions in the Issuer through, amo…”

“The Reporting Persons own 19.99% of the Company in the aggregate, based upon the Company's aggregate outstanding shares as of September 30, 2026, plus the shares of Common Stock issued in the Financing (as defined below). The Reporting Persons' securities include (i) 687,789 shares of Common Stock and (ii) 171,000 shares of Common Stock issuable upon conversion of 171 shares of Series C Preferred Stock held directly by Co-Invest and exclude (i) 105,286,000 shares of Common Stock issuable upon conversion of 105,286…”

“(a) The acquisition by any person of additional securities of the issuer, or the disposition of securities of the issuer”

“Mariselle a.s. entered into the Share Forward Transaction for investment purposes and to obtain economic exposure to the Shares. Mr. Holan, in his capacity as Group Investment Manager of Czechoslovak Group a.s., directs investment decisions with respect to the investment. The Share Forward Transaction provided for cash settlement only, unless the Investment Canada Act approval was obtained, in which case physical settlement would be permitted upon election by Mariselle a.s., subject to other applicable conditions.…”

“On March 11, 2026, PRIME OCEAN HOLDINGS LIMITED (the "Transferor") and JMD CORPORATE SERVICES LIMITED (the "Transferee") entered into a share transfer agreement, pursuant to which PRIME OCEAN agreed to transfer certain shares held by it to JMD CORPORATE SERVICES LIMITED. Under the terms of the share transfer agreement, Transferor is the registered proprietor of 18.000.000 ordinary shares (certificate no. C1353) with a par value of US$0.004 each of the TROOPS, INC. In addition, pursuant to the terms of the share tra…”

“On July 1, 2024, the Reporting Person paid $25,000 to acquire 2,424,324 Class B ordinary shares, par value $0.0001 per share (the "Founder Shares"), of the Issuer. Following share capitalizations in October 2025 and June 2026, the Reporting Person held 4,928,571 Founder Shares. Up to 642,857 Founder Shares are subject to surrender for no consideration depending on the extent to which the underwriters' over-allotment option is exercised. The Founder Shares are convertible into the Issuer's Class A ordinary shares co…”

“Swap Transactions Tarheel Investors III L.P. previously held certain equity swaps with an unrelated counterparty ("Counterparty") that could be physically settled ("Equity Swaps") upon the satisfaction of certain regulatory conditions. On October 5, 2026, the regulatory conditions applicable to such Equity Swaps were satisfied and Tarheel Investors III L.P. acquired beneficial ownership of the Common Stock underlying the Equity Swaps, and subsequently received 4,753,677 shares of Common Stock for an aggregate payme…”

“On September 29, 2026 (the "Tranche 1 Closing Date"), the Company completed the closing and sale of 5,000 shares of Series A Preferred Stock for $500,000, pursuant to a Preferred Stock Purchase Agreement (the "Preferred Purchase Agreement") dated September 27, 2026. Per the terms of the Preferred Purchase Agreement, parties agreed for the Tranche 2 Closing and purchase of an additional 5,000 shares for $500,000 to occur no later than ninety (90) days after the Tranche 1 Closing Date. The rights, preferences and pri…”

“The information reported in Item 3 and Item 6 of this Schedule 13D is incorporated herein by reference. LHE LNG intends to exercise Pre-Funded Warrants to purchase 187,169 shares of Common Stock prior to the record date of the Special Meeting in order to vote such shares of Common Stock on any proposals on which it is entitled to vote at the Special Meeting. 
 
 The Reporting Persons intend to review their investment in the Issuer on a continuing basis taking into consideration various factors, including th…”

“In connection with the organization of the Issuer, in July 2026, the Sponsor paid $25,000, or approximately $0.003 per share, to cover certain of the Issuer's offering costs in exchange for 7,666,667 Class B Ordinary Shares (the "Founder Shares") pursuant to the Securities Subscription Agreement dated as of July 15, 2026 between the Sponsor and the Issuer (the "Founder Share Purchase Agreement"), as more fully described in Item 6 of this Schedule 13D which information is incorporated herein by reference. On October…”

“The reporting person acquired the 72,583 ADSs of issuer reported herein for investment purposes. Based on the reporting person's belief that the securities represented an attractive investment opportunity. The reporting person intends to review their investment on a continuing basis. Depending on various factors, including the issuer business, financial condition, and stock price, as well as general market and economic conditions, the reporting person may from time to time purchase additional ADSs or ordinary share…”

“On September 29, 2026, the Issuer entered into a Purchase and Sponsor Handover Agreement (the "Purchase Agreement") with the Reporting Person and Tavia Sponsor Pte. Ltd., a Singapore company (the "Sponsor"), pursuant to which the Reporting Person agreed to purchase from the Sponsor an aggregate of (i) 2,243,333 Ordinary Shares and (ii) 249,107 private units of the Issuer, with each private unit consisting of one ordinary share and one right entitling the holder thereof to receive one-tenth of one ordinary share upo…”

“The information set forth in Item 6 of this Schedule 13D is incorporated herein by reference. Backstop Agreement On August 6, 2026, the Company entered into a Rights Offering Backstop Agreement (the "Backstop Agreement") with the holders of the 2030 Notes (the "Backstop Parties"), including the Reporting Person on behalf of the Whitebox Funds, in connection with the Company's $125.0 million rights offering (the "Rights Offering"), to purchase each Backstop Party's individual backstop commitment, for an aggregate of…”

“On September 10, 2026, Mr. Jonas entered into a Securities Purchase Agreement with the Company and the other purchasers named therein (the "Purchase Agreement") providing for his purchase of 2,218,430 shares of Class B Common Stock and warrants to purchase 1,996,587 shares of Class B Common Stock for an aggregate purchase price by Mr. Jonas of $6,500,000. The purchase price was $2.93 per share and accompanying warrant coverage, which was equal to the closing price of the Class B Common Stock on the NYSE American on…”

“This Statement on Schedule 13D relates to the acquisition of Shares by the Reporting Persons. The Shares acquired by the Reporting Persons were acquired for the purpose of making an investment in the Issuer and not with the intention of acquiring control of the Issuer's business on behalf of the Reporting Persons' respective advisory clients. The Reporting Persons from time to time intend to review their investment in the Issuer on the basis of various factors, including the Issuer's business, financial condition,…”

“The Reporting Persons acquired the securities of the Issuer for investment purposes. The Reporting Persons may from time to time review and consider various alternative courses of action for maximizing the value of their investment. Such alternatives may include, among other things, the acquisition of additional shares of capital stock of the Issuer on the open market, through privately negotiated transactions with the Issuer or third parties, or the sale of all or part of the Reporting Person's investment on the o…”

“General The Reporting Person intends to review her investments in the Issuer on a continuing basis. Any actions the Reporting Person might undertake may be made at any time and from time to time without prior notice and will be dependent upon the Reporting Person's review of numerous factors, including, but not limited to: an ongoing evaluation of the Issuer's business, financial condition, operations and prospects; price levels of the Issuer's securities; general market, industry and economic conditions; the relat…”

“The information set forth in Item 3 of this Schedule 13D is hereby incorporated by reference into this Item 4. The Reporting Person, at any time and from time to time, may directly or indirectly acquire additional securities of the Issuer, depending upon an ongoing evaluation of its investment in such securities, applicable legal and/or contractual restrictions, prevailing market conditions, other investment opportunities, liquidity requirements of the Reporting Person and/or other investment considerations. Except…”

“This Statement on Schedule 13D relates to the acquisition of Shares by the Reporting Persons. The Shares acquired by the Reporting Persons were acquired for the purpose of making an investment in the Issuer and not with the intention of acquiring control of the Issuer's business on behalf of the Reporting Persons' respective advisory clients. The Reporting Persons from time to time intend to review their investment in the Issuer on the basis of various factors, including the Issuer's business, financial condition,…”

“The Reporting Persons acquired the shares of Common Stock to which this Schedule 13D relates for investment purposes because they believe they represent an attractive investment opportunity. While the Reporting Persons have no present intention to dispose of all or any portion of the Common Stock beneficially owned by them, the Reporting Persons may, from time to time, modify their present intention as stated in this Item 4. In addition, they may at their discretion purchase additional shares of Common Stock of the…”

“On May 9, 2024, TROOPS, Inc. (the "Company") entered into a sale and purchase agreement (the "Agreement") with LIANTENG LIMITED (the "Vendor"), for the purchase of the entire issued and outstanding share capital of Riches Holdings Limited ("Riches Holdings"), a company incorporated under the laws of Cayman Islands, for the consideration of $13,400,000 (the "Consideration"). The Consideration shall be satisfied by the Company through the issuance of convertible promissory note (the "Note") to the Vendor for the prin…”

“On May 28, 2025, TROOPS, Inc. (the "Company") entered into a stock purchase agreement (the "Stock Purchase Agreement") with Wang & Lee Holdings, Inc. (the "Shareholder"), pursuant to which the Company issued and sold to the Shareholder 14,050,000 ordinary shares of the Company (the "Shares") at a purchase price of US$0.90 per share, for an aggregate price of US$12,645,000 (the Consideration"). The Company and the Shareholder also entered into a lock-up agreement (the "Lock-Up Agreement") in relation to the Agreemen…”

“The Reporting Persons acquired the Class B Shares for investment purposes and to obtain voting control of the Issuer. On September 16, 2026, pursuant to the Purchase Agreement, Lioness purchased from the Seller all 500,000 Class B Shares, constituting all issued and outstanding Class B Shares, for aggregate consideration of US$500.00. The Class B Shares were transferred to Lioness on September 22, 2026. Voting rights and class terms. Under the Issuer's memorandum and articles of association, the Class A Shares and…”

“The information set forth in Item 3 of this Schedule 13D is incorporated by reference into this Item 4. TPC acquired the reported securities for investment purposes.”

“The information set forth in Item 3 of this Schedule is incorporated herein by reference. The Reporting Person acquired their shares of Common Stock, Pre-Funded Warrants and Common Warrants as an investment in the ordinary course of business. At the Milestone Closing, which will be triggered by the Issuer's submission of a registrational Phase 3 clinical trial protocol for PDS0301 designed in collaboration with Nant Capital to the U.S. Food & Drug Administration (the "Milestone Event"), Nant Capital, along with cer…”

“The information set forth in Item 3 of this Schedule is incorporated herein by reference. WJRJJ purchased shares of the Company's common stock pursuant to a Securities Purchase Agreement ("Securities Purchase Agreement"), dated as of September 11, 2026, by and among WJRJJ, the Company, and Robert A. Frist (the "Selling Shareholder"), under which (i) the Company agreed to issue to WJRJJ 1,355,932 shares of Common Stock, for an aggregate cash purchase price of approximately $40.0 million, or a purchase price of $29.5…”

“On March 11, 2026, PRIME OCEAN HOLDINGS LIMITED (the "Transferor") and JMD CORPORATE SERVICES LIMITED (the "Transferee") entered into a share transfer agreement, pursuant to which PRIME OCEAN HOLDINGS LIMITED agreed to transfer certain shares held by it to JMD CORPORATE SERVICES LIMITED. Under the terms of the share transfer agreement, Transferor is the registered proprietor of 18.000.000 ordinary shares (certificate no. C1353) with a par value of US$0.004 each of the TROOPS, INC. In addition, pursuant to the terms…”

“On March 17, 2026, in connection with the Issuer's restructuring of its debt obligations (the "Restructuring Transactions"), the Issuer and certain of its subsidiaries entered into a restructuring support agreement (the "RSA"). On September 11, 2026, pursuant to the RSA, certain debt instruments of the Issuer held by affiliates of the Reporting Persons with an aggregate principal amount of $564,468,399.13 were terminated and exchanged for an aggregate of 1,318,372 shares of Class A Common Stock and 305,225 shares o…”

“On September 16, 2026, Gang Yu, Junling Liu, Sunny Bay Global Limited and Huadeng Tech BioArray Ventures Ltd (collectively, the Consortium) entered into a consortium agreement (the Consortium Agreement), pursuant to which the Consortium will cooperate in good faith in connection with an acquisition transaction (Proposed Transaction) with respect to the Issuer as contemplated by the Proposal (as defined below). The Consortium Agreement provides, among others, for (i) cooperation in negotiation with the Issuer with r…”

“On September 15, 2026, the Issuer and the reporting person entered into a securities purchase agreement relating to the issuance and sale of 298,508 shares of the Issuer's common stock and accompanying warrants to purchase up to 298,508 shares of common stock in a private placement. The transaction closed on September 15, 2026. The warrants are exercisable at any time, have an exercise price of $1.55 per share, and expire on the five-year anniversary of the date of issuance. The warrants also contain standard anti-…”

“The responses to Item 6 are incorporated by reference into this Item 4. On September 10, 2026 (the "Closing Date"), Issuer issued and sold to MIG the following securities pursuant to the Subscription Agreement, dated as of July 19, 2026 (the "Subscription Agreement"), between Issuer and MIG, for an aggregate purchase price of $15,000,000: * 2,923,976 shares of Class A Common Stock at a purchase price of $1.71 per share; * a senior secured convertible promissory note in the initial principal amount of $10,000,000 (t…”

“On February 12, 2026, the Sponsor paid $25,000, or approximately $0.014 per share, to cover certain of the Issuer's offering costs in exchange for 1,725,000 Founder Shares (the "Founder Shares"), of which 225,000 founder shares were forfeited subject to the expiration of the underwriters' over-allotment option, pursuant to the Securities Subscription Agreement dated as of February 12, 2026 between the Sponsor and the Issuer (the "Founder Share Purchase Agreement"). On April 20, 2026, the Issuer consummated its init…”

“The Reporting Persons purchased the aforementioned securities for investment purposes with the aim of increasing the value of their investments and the Issuer. Subject to applicable legal requirements, one or more of the Reporting Persons may purchase additional securities of the Issuer from time to time in open market or private transactions, depending on its evaluation of the Issuer's business, prospects and financial condition, the market for the Issuer's securities, other developments concerning the Issuer, the…”

“GL II has the right to acquire warrants to purchase up to $99,000,000 of additional shares of XCF Class A Common Stock until December 31, 2026. The price for each warrant is set forth in the Warrant Purchase Agreement entered into between GL II and XCF on July 16, 2026. Each warrant is exercisable on a paid or cashless basis at $2.50 per share. The Reporting Persons may purchase and sell common stock of XCF in their sole discretion and at such times as they deem convenient, subject to applicable law.”

“The Reporting Persons own 19.99% of the Company in the aggregate, based upon the Company's aggregate outstanding shares as of September 8, 2026. The Reporting Persons' securities include (a) 2,691 shares of Common Stock issuable upon the exercise of options held directly by Mr. Kiselak that are currently exercisable or will be exercisable within 60 days of the date of this filing, (b) 6,911,174 shares of Common Stock directly held by Fund II and (c) 2,192,555 shares of Common Stock directly held by Co-Invest, and e…”

“The information set forth or incorporated by reference in Item 6 of this Schedule 13D is incorporated by reference into this Item 4. The Reporting Persons intend to further assess their investment in the Issuer from time to time, on the basis of various factors, including, without limitation, the Issuer's business performance, financial condition, results of operations and prospects, general economic, market and industry conditions, as well as other developments and other investment opportunities available to the R…”

“The purpose of the acquisition of Shares by the Reporting Person is for investment as part of the general investment portfolio of the Reporting Person. This Schedule 13D is being filed because the Reporting Person is no longer a member of a "group" within the meaning of Section 13(d)(3) of the Act, as disclosed in the explanatory note to this Schedule 13D. This filing is not being made as a result of any particular acquisition or disposition of securities by the Reporting Person. The Reporting Person intends to rev…”

“The Reporting Person acquired the Common Shares for investment purposes through a series of related transactions, each of which is described below, as well as to effect the transfer of the Reporting Person's then wholly-owned subsidiary, Fort Products Limited, a private company incorporated under the laws of England and Wales ("Fort UK"), into a publicly traded vehicle, thereby providing Fort UK with access to public capital markets, enhanced liquidity and a platform for the continued growth and expansion of its e-…”

“The information set forth in Item 6 of this Schedule 13D with respect to the Securities Purchase Agreement, the Stockholder Agreement, the Lock-Up Agreement and the Registration Rights Agreement is incorporated by reference into this Item 4. General The Reporting Persons intend to review their investments in the Issuer on a continuing basis. Any actions the Reporting Persons might undertake will be dependent upon the Reporting Persons' review of numerous factors, including, but not limited to: an ongoing evaluation…”

“The Reporting Persons intend to review the performance of their investment in the Issuer from time to time. Depending on various factors, including the business, prospects and financial position of the Issuer, the current and anticipated future price levels of the Common Stock and currency exchange rates, the conditions in the securities markets and general economic and industry conditions, as well as the other investment opportunities available to them, each of the Reporting Persons will take such actions with res…”

“Investment and company employee incentive awards”

“Investment purposes and Issuer employee incentive awards”

“The information set forth in Item 3 of this Schedule 13D is incorporated herein by reference. The Old Notes and New Notes were acquired for investment purposes. The shares of Common Stock beneficially owned by the Reporting Persons are held for general investment purposes. On December 26, 2024, Mr. O'Dowd adopted a Rule 10b5-1 trading arrangement (as such term is defined in Item 408(a) of Regulation S-K) (the "10b5-1 Plan"). The 10b5-1 Plan covers the purchase of $5,000 worth of shares of the Company's common stock…”

“On September 3, 2026, the Issuer entered into a stock purchase agreement with Frank A. Selden, as trustee of the Gratitude 2022 Trust, to purchase 8,693,290 shares of Common Stock (the "Purchased Shares") from the Trust. The purchase of the Purchased Shares will close subject to the satisfaction or waiver of customary closing conditions, including the accuracy of the parties' respective representations and warranties and compliance with the parties' respective covenants, as well as the satisfactory receipt by the I…”

“The Reporting Persons are acquiring the Ordinary Shares in connection with a proposed business combination of the Issuer with Sports One ("Sports One"), a newly formed entity created by Paul Misir, Christopher Kelly and Reince Priebus. Sports One was formed to acquire and hold minority interests in professional sports teams, with a primary focus on the NBA, NFL, MLB and NHL, and to operate a sports intelligence business that provides real-time athlete-level data, social media value scoring, and quantified data for…”

“Item 3 of this Statement is incorporated herein by reference. The acquisitions by the Reporting Persons of the Issuer's securities as described herein were effected pursuant to the 2024 Subscription Agreement, the January 2025 Subscription Agreement and the October 2025 Subscription Agreement (collectively, the "Subscription Agreements"). The Reporting Persons acquired their securities for strategic investment purposes and in connection with (i) the purchase by Lantheus Holdings of all of the Issuer's rights to two…”

“On August 24, 2026, the Issuer distributed to all holders of record of Shares as of 5:00 p.m., New York City time, on August 21, 2026 (the "Record Date") one transferable subscription right (each, a "Right") for each Share held as of the Record Date (the "Rights Offering"). Each Right entitles the holder thereof, subject to certain limitations, to purchase 3.885 Shares, rounded down to the nearest whole Share, at a subscription price of $1.49 per share (the "Subscription Price"); provided, that any holder that exer…”