WENN
Wen Acquisition Corp Class A Ordinary SharesFinancial Services·Shell Companies
$10.29
$386M market cap
Revenue
$0.0M
Free Cash Flow
$-0.2M
Rev Growth
+0.0%
FCF Margin
0.0%
P/FCF
--
EV/FCF
--
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
Wen Acquisition Corp is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company intends to concentrate its efforts on infrastructure companies in the financial technology sector that are focused on the enablement of digital assets, such as stablecoins, through the incorporation and integration of blockchain networks into traditional financial sys
2-Year Price History
$10.28-0.4%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 0.0 | -0.2 | -0.2 | 2.5 | -0.2 | -0.2 | -0.0 | 310.9 | 0.0 | 30.0 | -- | -- | -- |
Valuation & Metrics
Market Stats
Price$10.29
Market Cap$386M
Enterprise Value$75M
P/S Ratio0.0x
P/FCF--
EV/FCF--
FCF Margin (TTM)0.0%
FCF Yield-0.1%
Dividend Yield (TTM)--
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$0.0M
Net Income$2.5M
Free Cash Flow$-0.2M
Revenue Growth (YoY)+0.0%
EBITDA Margin0.0%
Net Margin0.0%
FCF Margin0.0%
CapEx % of Revenue0.0%
SBC % of Revenue0.0%
ROIC--
WC Change % Rev0.0%
Interest Coverage--
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares0.0M
Days to Cover1.0
Change (vs Prior)-20.5%
Need at least 2 settlement dates for chart
Employees
Headcount2
Revenue / Employee$0
Gross Profit / Employee$0
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
73.9%(+10.6% YoY)
63 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
0.1%(+0.0% YoY)
1 filers
Vanguard, iShares, SPDR
Market makers
0.1%(+0.0% YoY)
1 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| Crossingbridge Advisors, LLC | $15.0M | $10.18 | +$15.0M | +$15.0M | -0.1% | $492M |
| D. E. Shaw & Co., Inc. | $14.1M | $10.11 | +$0 | +$14.1M | -0.3% | $118.02B |
| METEORA CAPITAL, LLC | $12.5M | $10.12 | −$58K | +$12.5M | -6.1% | $69.12B |
| LMR Partners LLP | $12.2M | $10.12 | +$0 | +$12.2M | -2.0% | $8.84B |
| MMCAP International Inc. SPC | $12.2M | $10.12 | +$0 | +$12.2M | -3.5% | $1.16B |
| Verition Fund Management LLC | $12.1M | $10.12 | +$1.6M | +$12.1M | -0.4% | $9.73B |
| WOLVERINE ASSET MANAGEMENT LLC | $11.3M | $10.15 | +$7.1M | +$11.3M | +1.9% | $2.32B |
| LINDEN ADVISORS LP | $11.2M | $10.12 | +$0 | +$11.2M | -7.0% | $1.89B |
| Saba Capital Management, L.P. | $10.8M | $10.12 | −$5.1M | +$10.8M | -4.4% | $3.09B |
| TWO SIGMA INVESTMENTS, LP | $8.5M | $10.12 | +$0 | +$8.5M | -0.9% | $117.03B |
| Parallax Volatility Advisers, L.P. | $8.5M | $10.17 | +$6.9M | +$8.5M | +1.5% | $2.03B |
| TENOR CAPITAL MANAGEMENT Co., L.P. | $8.1M | $10.12 | +$0 | +$8.1M | +5.6% | $1.50B |
| Magnetar Financial LLC | $7.6M | $10.12 | +$0 | +$7.6M | -0.8% | $9.54B |
| Radcliffe Capital Management, L.P. | $7.5M | $10.12 | +$458K | +$7.5M | +3.9% | $1.33B |
| Governors Lane LP | $7.4M | $10.12 | +$0 | +$7.4M | +1.6% | $801M |
| GLAZER CAPITAL, LLC | $7.4M | $10.16 | +$5.3M | +$7.4M | +8.8% | $4.51B |
| Westchester Capital Management, LLC | $6.8M | $10.18 | +$6.3M | +$6.8M | -4.4% | $2.07B |
| CSS LLC/IL | $6.6M | $10.12 | +$0 | +$6.6M | +2.3% | $794M |
| AQR Arbitrage LLC | $6.5M | $10.12 | −$347K | +$6.5M | -0.0% | $5.11B |
| WHITEBOX ADVISORS LLC | $6.1M | $10.12 | +$0 | +$6.1M | +0.6% | $1.77B |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)BULLISH
Holders
-0.11%
avg per quarter
Holders (ex-self)
-0.10%
excl. this stock
Buyers (this Q)
+0.76%
20 buyers · $0.06B in
Sellers (this Q)
-1.53%
12 sellers · $0.02B out
alpha coverage: 100% of $ has a lifetime-alpha record
Holder behavior (holder profile)source: holder
On big dips (−10%+)
-5.8%
how holders react when this stock falls
On quiet Qs
-0.9%
−10% to +10% baseline
On rallies (+10%+)
-16.7%
how they react when this stock rises
Holders' portfolio flow this Q
+15.5%
inflows — adds are organic
Sellers' portfolio flow this Q
+0.2%
Sellers' overall flow ~ flat.
Biggest decreases this quarter
Harraden Circle Investments, LLCexited−$18.4MHEALTHCARE OF ONTARIO PENSION PLAN TRUST FUNDexited−$6.8MSaba Capital Management, L.P.−$5.1Mα-4.4StoneX Group Inc.exited−$1.1MVivaldi Asset Management, LLC−$521Kα+3.3AQR Arbitrage LLC−$347Kα-0.0MIZUHO SECURITIES USA LLCexited−$112KMETEORA CAPITAL, LLC−$58Kα-6.1
New buyers this quarter
Top-5 holders · 23.2%
Crossingbridge Advisors, LLC--
D. E. Shaw & Co., Inc.--
METEORA CAPITAL, LLC--
LMR Partners LLP--
MMCAP International Inc. SPC--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
Harraden Circle Investments, LLC—Saba Capital Management, L.P.1.1MCrossingbridge Advisors, LLC1.5MD. E. Shaw & Co., Inc.1.4MMETEORA CAPITAL, LLC1.2MMMCAP International Inc. SPC1.2MLMR Partners LLP1.2MVerition Fund Management LLC1.2MWOLVERINE ASSET MANAGEMENT LLC1.1MLINDEN ADVISORS LP1.1MHEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND—
Corporate
Order Flow (FINRA, ~3w lag)
48.7%retail-9.6pp
1.6%dark-8.1pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.
Filing Risk Analysis
Filing Risk Scores
WEN ACQUISITION CORP: A Standard SPAC Shell Navigating a Liquidity Abyss
Overall Risk
7/10
Fraud
2/10
Dilution
9/10
Insolvency
8/10
Earnings Overstated
2/10
Hidden Liabilities
5/10
Legal
3/10
Audit Warnings
9/10
Hidden Upside
2/10
Contextually Acceptable
8/10