SCHEDULE 13G 0001279891 XXXXXXXX LIVE Ordinary Shares, par value $0.0001 per share 09/30/2025 0002000775 Black Hawk Acquisition Corp G1148A101 4125 Blackhawk Plaza Circle Suite 166 Danville CA 94506 Rule 13d-1(b) WOLVERINE ASSET MANAGEMENT LLC IL 0 358888 0 358888 358888 N 8.64 IA Wolverine Trading Partners, Inc. IL 0 358888 0 358888 358888 N 8.64 CO HC Wolverine Holdings, L.P. IL 0 358888 0 358888 358888 N 8.64 HC Christopher L. Gust IL 0 358888 0 358888 358888 N 8.64 IN HC Robert R. Bellick IL 0 358888 0 358888 358888 N 8.64 IN HC Black Hawk Acquisition Corp 4125 Blackhawk Plaza Circle, Suite 166, Danville, California, 94506 Wolverine Asset Management, LLC Wolverine Holdings, L.P. Wolverine Trading Partners, Inc. Christopher L. Gust Robert R. Bellick c/o Wolverine Asset Management, LLC 175 West Jackson Boulevard, Suite 340 Chicago, IL 60604 Wolverine Asset Management, LLC - Illinois Wolverine Holdings, L.P. - Illinois Wolverine Trading Partners, Inc. - Illinois Christopher L. Gust - U.S. Citizen Robert R. Bellick - U.S. Citizen N IA HC Wolverine Asset Management, LLC ("WAM") is an investment manager and has voting and dispositive power over 358,888 Ordinary Shares of the Issuer. The sole member and manager of WAM is Wolverine Holdings, L.P. ("Wolverine Holdings"). Robert R. Bellick and Christopher L. Gust may be deemed to control Wolverine Trading Partners, Inc. ("WTP"), the general partner of Wolverine Holdings. 8.64%. WAM may be deemed the beneficial owner of 8.64% of the Issuer's Ordinary Shares, and each of Wolverine Holdings, WTP, Mr. Bellick, and Mr. Gust may be deemed the beneficial owner of 8.64% of the Issuer's outstanding Ordinary Shares. Percentages were calculated by dividing the number of shares deemed beneficially owned by each reporting person by 4,153,577 (the number if Ordinary Shares outstanding according to Form 8-K/A filed on July 22, 2025). 0 358,888 0 358,888 Y N Wolverine Flagship Fund Trading Limited is known to have the right to receive the receipt of dividends from, or the proceeds from the sale of, the Ordinary Shares covered by this statement that may be deemed to be beneficially owned by WAM. Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above 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 of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. WOLVERINE ASSET MANAGEMENT LLC /s/ Kenneth L. Nadel 10/01/2025 Wolverine Trading Partners, Inc. /s/ Christopher L. Gust 10/01/2025 Wolverine Holdings, L.P. /s/ Christopher L. Gust 10/01/2025 Christopher L. Gust /s/ Christopher L. Gust 10/01/2025 Robert R. Bellick /s/ Robert R. Bellick 10/01/2025