Text size
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 July 2 through July 8, 2020. Source: InsiderScore.com
Activist Holdings
e.l.f. Beauty
(ELF)
Marathon Partners disclosed that it owned 2,595,200 shares of the cosmetics retailer, 5.2% of e.l.f.’s outstanding stock, including 235,000 shares underlying call options. On July 1, e.l.f. and Marathon reached a cooperation agreement under which e.l.f. will increase its board by one to allow for the appointment of a Marathon-chosen director. Additionally, the agreement calls on e.l.f. to include a “say on pay” proposal to be voted on at the annual shareholder meeting. Marathon will abide by customary standstill provisions for up to 30 days before the expiration of advance notice for shareholder submissions of director nominees, ahead of the 2021 annual shareholder meeting.
Original Filings
Akouos
(AKUS)
New Enterprise Associates disclosed an initial investment of 4,292,207 shares in the newly public developer of gene therapies, equal to 13.2% of Akouos’ outstanding stock. Of those Akouos shares, New Enterprise purchased 588,235 through the Akouos initial public offering that closed on June 30, at an offering price of $17 per share. The balance of New Enterprise’s Akouos position resulted from the conversion of preferred securities—gleaned from early investments—into Akouos common shares immediately after the IPO closed.
Fusion Pharmaceuticals
(FUSN)
OrbiMed Advisors initiated a position of 2,997,981 shares of the biopharmaceutical firm, including 67,311 Fusion Pharmaceutical shares underlying warrants. OrbiMed participated in the Fusion IPO that closed on June 30, purchasing 1,000,900 shares at the offering price of $17 each. The remaining shares resulted from the conversion of preferred equity issued prior to the IPO into Fusion common shares.
Decreases in Holdings
Educational Development
(EDUC)
Red Oak Partners reduced its position in the publisher of educational children’s books to 496,789 shares. Without citing a reason, Red Oak sold a total of 124,104 Educational Development shares from May 8 through July 1 at prices ranging from $5.54 to $9.86 apiece. Following the divestment, Red Oak now holds a 5.9% interest in Educational Development’s tradable stock.
nVent Electric
(NVT)
Trian Fund Management cut its stake in the maker of electrical components by 1,651,920 shares “for portfolio management purposes.” Trian Fund Management, helmed by investor Nelson Peltz, sold those nVent Electric shares from June 23 through July 2 at per share prices ranging from $18.03 to $19.04. Trian Fund Management’s investment in nVent now stands at 11,910,005 shares, equal to roughly 7% of nVent’s outstanding stock.
Email: [email protected]
