# EDGAR Filing Document

**Accession Number:** 0001920406
**File Stem:** 0001193125-25-211816
**Filing Date:** 2025-9
**Character Count:** 23751
**Document Hash:** cb99d20ace07352cc48fb411412951ef
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-211816.hdr.sgml**: 20250922

**ACCESSION NUMBER**: 0001193125-25-211816

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13G

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20250922

**DATE AS OF CHANGE**: 20250922

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Strive, Inc.
- **CENTRAL INDEX KEY:** 0001920406
- **STANDARD INDUSTRIAL CLASSIFICATION:** FINANCE SERVICES [6199]
- **ORGANIZATION NAME:** 09 Crypto Assets
- **EIN:** 881293236
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-94312
- **FILM NUMBER:** 251331333

**BUSINESS ADDRESS:**
- **STREET 1:** 100 CRESCENT CT
- **STREET 2:** 7TH FLOOR
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75201
- **BUSINESS PHONE:** 214-459-3117

**MAIL ADDRESS:**
- **STREET 1:** 100 CRESCENT CT
- **STREET 2:** 7TH FLOOR
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75201

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Asset Entities Inc.
- **DATE OF NAME CHANGE:** 20220330
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Graham Capital Management, L.P.
- **CENTRAL INDEX KEY:** 0001315421

**ORGANIZATION NAME:**
- **EIN:** 061398337
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G

**BUSINESS ADDRESS:**
- **STREET 1:** 40 HIGHLAND AVENUE
- **CITY:** ROWAYTON
- **STATE:** CT
- **ZIP:** 06853
- **BUSINESS PHONE:** 203.899.3400

**MAIL ADDRESS:**
- **STREET 1:** 40 HIGHLAND AVENUE
- **CITY:** ROWAYTON
- **STATE:** CT
- **ZIP:** 06853

## Exhibit 99.1

**EXHIBIT 99.1**

**JOINT FILING AGREEMENT**

In accordance with Rule 13d-1(k) promulgated under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree to the joint filing with all other Reporting Persons (as such term is defined in the Schedule 13G referred to below) on behalf of each of them of a statement on Schedule 13G (including amendments thereto) with respect to the shares of Common Stock of Strive, Inc., par value $0.001, and that this Agreement may be included as an Exhibit to such joint filing. This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument.

IN WITNESS WHEREOF, the undersigned hereby execute this Agreement as of September 22, 2025.<br>

---

| | | |
|:---|:---|:---|
| <u>/s/ Kenneth Tropin</u> | <u>/s/ Kenneth Tropin</u> | <u>/s/ Kenneth Tropin</u> |
| KENNETH TROPIN | KENNETH TROPIN | KENNETH TROPIN |
| KGT, Inc. | KGT, Inc. |  |
| By: | <u>/s/ Brian Douglas</u> | <u>/s/ Brian Douglas</u> |
|  | Name:  | Brian Douglas |
|  | Title: | Chief Executive Officer |
| GRAHAM CAPITAL MANAGEMENT, L.P. | GRAHAM CAPITAL MANAGEMENT, L.P. | GRAHAM CAPITAL MANAGEMENT, L.P. |
| By: | <u>/s/ Brian Douglas</u> | <u>/s/ Brian Douglas</u> |
|  | Name: | Brian Douglas |
|  | Title: | Chief Executive Officer |
| GRAHAM MACRO STRATEGIC LTD. | GRAHAM MACRO STRATEGIC LTD. | GRAHAM MACRO STRATEGIC LTD. |
| By: | <u>/s/ Brian Douglas</u> | <u>/s/ Brian Douglas</u> |
|  | Name: | Brian Douglas |
|  | Title: | Chief Executive Officer, Graham Capital Management, L.P., as investment adviser |
| GRAHAM CREDIT OPPORTUNITIES LTD. | GRAHAM CREDIT OPPORTUNITIES LTD. | GRAHAM CREDIT OPPORTUNITIES LTD. |
| By: | <u>/s/ Brian Douglas</u> | <u>/s/ Brian Douglas</u> |
|  | Name: | Brian Douglas |
|  | Title: | Chief Executive Officer, Graham Capital Management, L.P., as investment adviser |

---

------

## Exhibit 99.2

**EXHIBIT 99.2**

**POWER OF ATTORNEY**

Know all by these presents, that the undersigned hereby makes, constitutes and appoints Timothy Sperry, with full power of substitution and re-substitution, the undersigned's true and lawful attorney-in-fact (each of such person and their substitutes being referred to herein as the "Attorney-in-Fact"), with full power to act for the undersigned and in the undersigned's name, place and stead, in any and all capacities, to:

Prepare, execute and submit to the SEC, Strive, Inc. ("the Company"), and/or any national securities exchange on which the Company's securities are listed, any and all reports(including any amendments thereto) the undersigned is required to file with the SEC, or which the Attorney-in-Fact considers it advisable to file with the SEC, with respect to beneficial ownership of the Company's securities, under Section13(d) or Section 16 of the Exchange Act or any rule or regulation thereunder, or under Rule 144 under the Securities Act of 1933 ("Rule 144"), with respect to the any security of the Company, including Forms 3, 4 and 5, Schedules 13D and 13G, and Form 144, as applicable, it being understood that Section 16 does not currently apply to the Company but may in the future; and

Obtain, as the undersigned's representative and on the undersigned's behalf, information regarding transactions in the Company's equity securities from any third party, including the Company and any brokers, dealers, employee benefit plan administrators and trustees, and the undersigned hereby authorizes any such third party to release any such information to the Attorney-in-Fact.

The undersigned acknowledges that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a)This Power of Attorney authorizes, but does not require, the Attorney-in-Fact to act in his or her discretion on information provided to such Attorney-in-Fact without independent verification of such information;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b)Any documents prepared or executed by the Attorney-in-Fact on behalf of the undersigned pursuant to this Power of Attorney will be in such form and will contain such information as the Attorney-in-Fact, in his or her discretion, deems necessary or desirable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c)Neither the Company nor the Attorney-in-Fact assumes any liability for the undersigned's responsibility to comply with the requirements of Section 13(d) or Section 16 of the Exchange Act or Rule 144, any liability of the undersigned for any failure to comply with such requirements, or any liability of the undersigned for disgorgement of profits under Section 16(b) of the Exchange Act; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d)This Power of Attorney does not relieve the undersigned from responsibility for compliance with the undersigned's obligations under Section 13(d) or Section 16 of the Exchange Act, including, without limitation, the reporting requirements under Section 13 or Section 16 of the Exchange Act.

The undersigned hereby grants to the Attorney-in-Fact full power and authority to do and perform each and every act and thing requisite, necessary or advisable to be done in connection with the foregoing, as fully, to all intents and purposes, as the undersigned might or could do in person, hereby ratifying and confirming all that the Attorney-in-Fact, or his or her substitute or substitutes, shall lawfully do or cause to be done by authority of this Power of Attorney.

This Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file applicable beneficial ownership forms (e.g., Forms 4 or 5 or Schedules 13D or 13G or Form 144) with respect to the undersigned's holdings of and transactions in securities of the Company, unless earlier revoked by the undersigned in a signed writing delivered to the Attorney-in-Fact. This Power of Attorney revokes all previous powers of attorney with respect to the subject matter of this Power of Attorney.

IN WITNESS WHEREOF, the undersigned has executed this Power of Attorney as of September 22, 2025.<br>

---

| | | |
|:---|:---|:---|
| KGT, Inc. | KGT, Inc. | KGT, Inc. |
| By: | <u>/s/ Brian Douglas</u> | <u>/s/ Brian Douglas</u> |
|  | Name: | Brian Douglas |
|  | Title: | Chief Executive Officer |

---

------

---

| | | |
|:---|:---|:---|
| GRAHAM CAPITAL MANAGEMENT, L.P. | GRAHAM CAPITAL MANAGEMENT, L.P. | GRAHAM CAPITAL MANAGEMENT, L.P. |
| By: | <u>/s/ Brian Douglas</u> | <u>/s/ Brian Douglas</u> |
|  | Name: | Brian Douglas |
|  | Title: | Chief Executive Officer |
| GRAHAM MACRO STRATEGIC LTD. | GRAHAM MACRO STRATEGIC LTD. | GRAHAM MACRO STRATEGIC LTD. |
| By: | <u>/s/ Brian Douglas</u> | <u>/s/ Brian Douglas</u> |
|  | Name: | Brian Douglas |
|  | Title: | Chief Executive Officer, Graham Capital Management, L.P., as investment adviser |
| GRAHAM CREDIT OPPORTUNITIES LTD. | GRAHAM CREDIT OPPORTUNITIES LTD. | GRAHAM CREDIT OPPORTUNITIES LTD. |
| By: | <u>/s/ Brian Douglas</u> | <u>/s/ Brian Douglas</u> |
|  | Name: | Brian Douglas |
|  | Title: | Chief Executive Officer, Graham Capital Management, L.P., as investment adviser |

---

------

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13G

### Under the Securities Exchange Act of 1934

**Issuer:** Strive, Inc.

**Title of Class of Securities:** Class A Common Stock, $0.001 par value per share

**CUSIP Number:** 862945102

**Date of Event Which Requires Filing of this Statement:** 09/12/2025

**Check the appropriate box to designate the rule pursuant to which this Schedule is filed:**

- [ ] Rule 13d-1(b)

- [x] Rule 13d-1(c)

- [ ] Rule 13d-1(d)

---

| 1. | Names of Reporting Persons<br>Graham Capital Management, L.P. | Names of Reporting Persons<br>Graham Capital Management, L.P. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>DE | Citizenship or Place of Organization<br>DE |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>37037038 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>37037038 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>37037038 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>37037038 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>9.66% | Percent of Class Represented by Amount in Row (9)<br>9.66% |
| 12. | Type of Reporting Person (See Instructions)<br>IA | Type of Reporting Person (See Instructions)<br>IA |

---

| 1. | Names of Reporting Persons<br>KGT, Inc. | Names of Reporting Persons<br>KGT, Inc. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>DE | Citizenship or Place of Organization<br>DE |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>37037038 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>37037038 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>37037038 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>37037038 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>9.66% | Percent of Class Represented by Amount in Row (9)<br>9.66% |
| 12. | Type of Reporting Person (See Instructions)<br>CO | Type of Reporting Person (See Instructions)<br>CO |

---

| 1. | Names of Reporting Persons<br>Kenneth Tropin | Names of Reporting Persons<br>Kenneth Tropin |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>X1 | Citizenship or Place of Organization<br>X1 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>37037038 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>37037038 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>37037038 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>37037038 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>9.66% | Percent of Class Represented by Amount in Row (9)<br>9.66% |
| 12. | Type of Reporting Person (See Instructions)<br>IN | Type of Reporting Person (See Instructions)<br>IN |

---

| 1. | Names of Reporting Persons<br>Graham Macro Strategic Ltd. | Names of Reporting Persons<br>Graham Macro Strategic Ltd. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>D8 | Citizenship or Place of Organization<br>D8 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>31481482 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>31481482 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>31481482 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>31481482 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>8.27% | Percent of Class Represented by Amount in Row (9)<br>8.27% |
| 12. | Type of Reporting Person (See Instructions)<br>CO | Type of Reporting Person (See Instructions)<br>CO |

---

| 1. | Names of Reporting Persons<br>Graham Credit Opportunities Ltd. | Names of Reporting Persons<br>Graham Credit Opportunities Ltd. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>D8 | Citizenship or Place of Organization<br>D8 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>5555556 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>5555556 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>5555556 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>5555556 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>1.51% | Percent of Class Represented by Amount in Row (9)<br>1.51% |
| 12. | Type of Reporting Person (See Instructions)<br>CO | Type of Reporting Person (See Instructions)<br>CO |

---

**Item 1(a). Name of Issuer:**
Strive, Inc.

**Item 1(b). Address of Issuer's Principal Executive Offices:**
200 Crescent Ct, Suite 1400, Dallas, TX 75201

**Item 2(a). Name of Person Filing:**
The names of the persons filing this report ("Reporting Persons") with respect to shares of Class A Common Stock, $0.001 par value per share (the "Common Stock") of Strive, Inc. (the "Issuer") are:

Kenneth Tropin
KGT, Inc. ("KGT")
Graham Capital Management, L.P. ("GCM")
Graham Macro Strategic Ltd. ("GMS")
Graham Credit Opportunities Ltd. ("GCO")

**Item 2(b). Address of Principal Business Office:**
The address of the principal business office of each of GCM, GMS, and GCO is 40 Highland Avenue, Rowayton, CT 06853. The address of the principal business office of each of KGT and Mr. Tropin is 505 South Flagler Drive, Suite 1550, West Palm Beach, FL  33401.

**Item 2(c). Citizenship:**
GCM and KGT are organized under the laws of the State of Delaware. GMS and GCO are corporations organized in the British Virgin Islands.  Mr. Tropin is a United States citizen.

**Item 2(d). Title of Class of Securities:**
Class A Common Stock, $0.001 par value per share

**Item 2(e). CUSIP Number:**
862945102

**Item 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:**

(a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

(d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).

(e) [ ] An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f) [ ] An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g) [ ] A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j) [ ] A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), if filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:

(k) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

**Item 4. Ownership:**

**(a) Amount beneficially owned:**

The information required by this item with respect to each Reporting Person is set forth in Rows 5 through 9 of the cover pages to this Schedule 13G, and assumes the exercise of warrants held by the Reporting Persons to purchase an aggregate of 18,518,519 shares of Common Stock (the "Warrant Exercise"). The ownership percentages reported are based on 364,825,582 shares of Common Stock outstanding as reported by the Issuer in its registration statement filed with the Securities and Exchange Commission on that September 12, 2025 and give effect to the Warrant Exercise.
GMS holds 15,740,741 shares of Common Stock and warrants immediately exercisable for 15,740,741 shares of Common Stock. GCO holds 2,777,778 shares of Common Stock and warrants immediately exercisable for 2,777,778 shares of Common Stock. KGT is the sole manager of KGT GP LLC, which is the general partner of GCM. GCM is the investment advisor to GMS and GCO. Mr. Tropin is the sole shareholder and sole director of KGT.

**(b) Percent of class:**

The information required by this item with respect to each Reporting Person is set forth in Row 11 of the cover pages to this Schedule 13G.

**(c) Number of shares as to which the person has:**

**(i) Sole power to vote or to direct the vote:**

The information required by this item with respect to each Reporting Person is set forth in Row 5 of the cover pages to this Schedule 13G.

**(ii) Shared power to vote or to direct the vote:**

The information required by this item with respect to each Reporting Person is set forth in Row 6 of the cover pages to this Schedule 13G.

**(iii) Sole power to dispose or to direct the disposition of:**

The information required by this item with respect to each Reporting Person is set forth in Row 7 of the cover pages to this Schedule 13G.

**(iv) Shared power to dispose or to direct the disposition of:**

The information required by this item with respect to each Reporting Person is set forth in Row 8 of the cover pages to this Schedule 13G.

**Item 5. Ownership of Five Percent or Less of a Class.**

[x] If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following.

**Item 6. Ownership of More than 5 Percent on Behalf of Another Person.**

Not Applicable

**Item 7. Identification and Classification of the Subsidiary**

Not Applicable

**Item 8. Identification and Classification of Members of the Group**

Not Applicable

**Item 9. Notice of Dissolution of Group**

Not Applicable

**Item 10. Certification:**

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above 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.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Graham Capital Management, L.P.**

**Date:** 09/22/2025

**By:** /s/ *

**Name & Title:** Brian Douglas, Chief Executive Officer

**KGT, Inc.**

**Date:** 09/22/2025

**By:** /s/ *

**Name & Title:** Brian Douglas, Chief Executive Officer

**Kenneth Tropin**

**Date:** 09/22/2025

**By:** /s/ *

**Name & Title:** Kenneth Tropin

**Graham Macro Strategic Ltd.**

**Date:** 09/22/2025

**By:** /s/ *

**Name & Title:** Brian Douglas, Chief Executive Officer, Graham Capital Management, L.P., as investment adviser

**Graham Credit Opportunities Ltd.**

**Date:** 09/22/2025

**By:** /s/ *

**Name & Title:** Brian Douglas, Chief Executive Officer, Graham Capital Management, L.P., as investment adviser