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 Feb. 1 through Feb. 7, 2024. Source: VerityData
Activist Holdings
Green Plains
Ancora Holdings reported holding 4,176,058 shares of the sustainable bioingredient maker, with 120,000 of those shares underlying exercisable options. On Feb. 6, Ancora and Green Plains entered a cooperation agreement that calls for Green Plains to initiate a formal review of its business “and evaluate strategic alternatives to maximize value.”
As part of the agreement, Ancora will vote all its eligible Green Plains shares in support of board initiatives that come up for shareholder vote. However, Ancora may vote against Green Plains’ board if its recommendations are opposed by Institutional Shareholder Services and Glass, Lewis. Otherwise, Ancora will abide by customary standstill provisions and limit its Green Plains stake to no more than 9.9%. It currently stands at 7%.
The cooperation agreement will be in effect no later than 100 days before the first anniversary of Green Plains’ 2024 annual shareholders meeting. Green Plains stock has lost about a third of its value in the past 12 months.
Increases in Holdings
Tilly’s
Fund 1 Investments raised its position in the casual-apparel retailer to 7,096,233 shares. Fund 1 purchased 289,428 Tilly’s shares at prices ranging from $7.34 to $7.57 each from Jan. 12 through Feb. 2. The fresh investment bolsters Fund 1’s standing as Tilly’s top shareholder with a 31.3% stake. Fund 1 has been buying while the stock has been slumping. Shares have lost about 17% of their value in the past 12 months.
Astria Therapeutics
Perceptive Advisors raised its position in the pharmaceutical company to 6,485,420 shares. On Dec. 21, 2023, Perceptive purchased 740,000 Astria Therapeutics shares at a price of $6.20 each. Perceptive bought another 2,481,350 Astria shares on Feb. 1, 2024, through an offering that priced those shares at $12.09 each.
Perceptive owns another 2.42 million and five million Astria shares that respectively underlie common and prefunded warrants and convertible preferred securities that are subject to a 9.99% beneficial ownership limitation. As Perceptive’s Astria stake now stands at 11.9%, none of the 7.42 million underlying Astria shares are included in Perceptive’s ownership figure.
Shares have doubled in price in 2024, but the 12-month gain stands at about 4%.
Decreases in Holdings
TD Synnex
Apollo Global Management
cut its interest in the enterprise IT company by a third to 17,384,299 shares. Without citing any reason, Apollo sold 8,768,750 TD Synnex shares on Jan. 31 through a secondary offering that priced those shares at $100.50 apiece. Following the offering’s close, Apollo still remains TD Synnex’s largest shareholder with a 19.8% stake.
Through the end of January, the IT enterprise stock has lost roughly 5% of its value, but are about flat for the past 12 months.
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