Complex sentence: The Jacobites seized some Hanoverian tents, ammunition, wagons, and three of their cannons, but, they remained in or around Falkirk for most of the month and lost any initiative they may have gained from the victory.
Split into simpler sentences: The Jacobites seized the Hanoverian tents, ammunition, wagons, and three of their cannons. But, they remained in or around Falkirk for most of the month and lost any initiative they may have gained from the victory.