These disclosures are from 13Ds filed with the Securities and Exchange Commission. 13Ds are filed within 10 days of an entity’s attaining more than 5% in any class of a company’s securities. Subsequent changes in holdings or intentions must be reported in amended filings. This material is from Jan. 7 through Jan. 13, 2021. Source: InsiderScore.com
Activist Holdings
W.R. Grace (GRA)
40 North Management revealed a 14.9% interest in W.R. Grace, equal to 9,865,008 shares of the maker of specialty chemicals. On Nov. 9, 40 North offered to take W.R. Grace private for $60.00 cash per share. That offer was rejected by W.R. Grace’s board, and prompted 40 North to raise its bid to $65.00 per share. The revision was issued to W.R. Grace on Jan. 11, and will only remain in good standing provided 40 North receives “access to due diligence materials.”
GameStop (GME)
RC Ventures, founded by Chewy (CHWY) co-founder Ryan Cohen, disclosed a stake in the videogaming retailer of 9,000,100 shares, equal to 12.9% of the outstanding stock. That is unchanged from December. RC Ventures revealed that it engaged GameStop’s board to discuss “changes to the composition of the Board and other corporate enhancements.” At that time, RC Ventures desired an “amicable resolution.” That occurred on Jan. 10 when GameStop agreed to increase its board to accommodate the appointment of three RC Ventures representatives, including Cohen. GameStop’s board will hold 13 directors until the 2021 annual stockholders meeting, at which the RC Ventures’ affiliates will be nominated for re-election while four legacy directors will resign to reduce the board to nine members.
Original Filings
Seer (SEER)
Maverick Capital reported a fresh stake in the biotech firm of 5,489,063 shares. That figure includes Maverick’s purchase of 100,000 shares through Seer’s Dec. 8 initial public offering that priced shares at $19.00 each. The remaining shares resulted from the conversion of pre-IPO preferred securities into Seer common stock. Maverick owns 10.3% of Seer’s tradable stock and further disclosed that managing partner David Partner serves on Seer’s board.
Increases in Holdings
Rocket Pharmaceuticals (RCKT)
RTW Investments increased its interest in the biopharmaceutical firm to 29.3%. RTW participated in Rocket’s Dec. 10 stock offering, buying 247,720 shares at $56.00 apiece. Following the fresh purchase, RTW holds 17,530,044 Rocket shares.
Decreases in Holdings
Genco Shipping & Trading (GNK)
Strategic Value Partners slashed its stake in the shipping firm to 1,263,366 shares. Without citing a reason, Strategic Value sold a total of 6,902,062 Genco Shipping shares from Jan. 8 through Jan. 12 at prices ranging from $8.05 to $8.88 each. Strategic Value ultimately cut its Genco Shipping position by nearly 85%, leaving it with a 3% interest in the freight company.
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