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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 May 19 through 25, 2022. Source: VerityData
Activist Holdings
Covetrus
(CVET)
Clayton, Dubilier & Rice disclosed holding 33,670,541 shares in the provider of software that allows veterinary clinics to run their own online pharmacies, roughly 24.2% of the tradable stock. On May 19, Clayton, Dubilier & Rice and TPG made a joint offer to acquire all outstanding Covetrus shares that they do not already own for $21 per share in cash. The offer took shape following discussions with Covetrus’ transaction committee, and Covetrus formally agreed to the offer on May 24.
Original Filings
PepGen
(PEPG)
RA Capital Management revealed a fresh stake in the clinical-stage biopharmaceutical company. RA Capital was an early backer of PepGen through preferred security investments. So, after the pharmaceutical company debuted publicly through a May 10 initial public offering, RA Capital’s preferred securities automatically converted into 4,902,752 PepGen common shares. RA Capital also participated in the offering to buy 3,229,200 shares at a price of $12 apiece. Following the IPO, RA Capital owns 8,131,952 PepGen shares, equal to 36.3% of the outstanding stock. Managing director Josh Resnick represents RA Capital on PepGen’s board.
Increases in Holdings
Envestnet
(ENV)
Impactive Capital lifted its interest in the investment-management technology firm to 3,480,418 shares. Impactive Capital purchased 723,559 Envestnet shares from May 5 through May 24 at prices ranging from $62.73 to $75.06 each. After the fresh investment, Impactive owns 6.3% of Envestnet’s tradable stock.
Ruth’s Hospitality Group
(RUTH)
Hill Path Capital increased its holding in the steakhouse chain to 2,971,050 shares. That figure includes 235,428 Ruth’s Hospitality shares bought at prices ranging from $16.08 to $20.84 apiece from April 7 through May 24. Hill Path now owns 8.7% of Ruth’s Hospitality’s outstanding stock.
Decreases in Holdings
Intricon (IIN)
Gamco Investors
(GBL) reduced its position in the micro-medical-device maker to 1,143,140 shares. Gamco sold 178,797 Intricon shares on May 19 and May 20 at per share prices ranging from $24.20 to $24.23, only days before Intricon shareholders approved a deal to take the biotech company private on May 24. In February, Intricon agreed to Altaris Capital Partners’ buyout offer of $24.25 per share in cash. Shareholders approved the deal on May 24, meaning that Altaris Capital will soon acquire Gamco’s remaining 12.3% interest in Intricon.
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