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EFTA01384526

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HUBUS133 Alpha Group Capital Item 4. Advisory Business Hudson Bay Capital Management LP ("Hudson Bay Capitarl), a Delaware limited partnership, is an alternative asset management firm founded in 2005 by Sander Gerber. Mr. Gerber is Hudson Bay Capital's principal owner and the managing member of Hudson Bay Capital's general partner. Hudson Bay Capital provides investment management services on a discretionary basis to privately offered investment vehicles, and from time to time may also provide investment management services to one or more separately managed accounts, although Hudson Bay Capital does not currently provide management services to any managed account. As of January 31, 2018 Hudson Bay Capital managed client assets with a net asset value of approximately $2,548,400,000, all on a discretionary basis. Hudson Bay Capital currently manages four Fund products: (i) a multi-strategy Fund, comprised of Hudson Bay Fund LP (operating primarily for the benefit of taxable U.S. investors and certain tax-exempt U.S. investors), Hudson Bay International Fund Ltd. (operating primarily for the benefit of non-U.S. investors and certain tax-exempt U.S. investors) and Hudson Bay International Levered Fund Ltd. (operating primarily for the benefit of non-U.S. investors and certain tax-exempt U.S. investors who wish to invest on a levered basis) (along with their affiliates, the "Multi-Strat Funds"); (ii) Hudson Bay Cap Structure Arbitrage Enhanced Fund LP (operating primarily for the benefit of taxable U.S. investors and certain tax-exempt U.S. investors) (along with its affiliate, Hudson Bay Capital Structure Opportunities Master Fund Ltd., the "Capital Structure Fund"); (iii) Hudson Bay Corporate Value Fund LP (the "Corporate Value Fund"), a vehicle operating for the benefit of a single institutional investor (the "Institutional Investor") and certain affiliates of, and persons associated with, Hudson Bay Capital; and (iv) Hudson Bay MLP Fund LP F

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