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 Oct. 12 through Oct. 18, 2023. Source: VerityData
Activist Holdings
E2open Parent Holding
(ETWO)
Elliott Management disclosed that it is an active investor in the supply-chain software platform, with 27,250,000 shares. After a single sale of 1,750,000 E2open shares at a price of $4.90 each on Sept. 15, Elliott bought a total of 8,334,679 E2open shares on Oct. 11-12 at prices ranging from $2.20 to $2.52 each.
Elliott now holds 9% of E2open’s tradable stock. Elliott noted that it “will seek to engage in dialogue” with E2open’s board and management regarding “strategic opportunities…including transactions in which [Elliott Management] may seek to participate and potentially engage in, as an acquirer, investor, and/or financing source.”
E2open said that it “encourages and maintains an open dialogue with all of our shareholders,” in response to Elliott’s filing.
Original Filings
Blue Apron Holdings
(APRN)
Gamco Investors
(GBL) disclosed a fresh stake in the provider of meal-preparation kits of 327,612 shares, or 5.1% of the firm’s tradable stock. All of those Blue Apron shares were purchased from Sept. 29 through Oct. 4 at prices ranging from $12.76 to $12.84. Though Gamco gave no reason for its Blue Apron investment, it is probably making an arbitrage play.
On Sept. 29, Blue Apron announced that it has agreed to be acquired by Wonder Group, which intends to pay $13 per share in cash to buy the company. The deal is expected to close by year-end, subject to the tender of the majority of Blue Apron’s outstanding stock. Blue Apron’s board unanimously recommended shareholders tender their shares.
Increases in Holdings
Concentrix
(CNXC)
Impactive Capital lifted its position as a provider of customer-experience solutions to 3,403,325 shares. Impactive purchased 902,719 Concentrix shares from Sept. 20 through Oct. 13 at prices ranging from $72.28 to $80.91 apiece.
Impactive revealed no plans or proposals tied to the investment but noted that it has and will probably continue to engage Concentrix and other interested parties regarding myriad topics, including operations, board composition, strategic alternatives, and direction.
At the end of September, Concentrix raised its quarterly dividend 10%, to 30.25 cents, payable on Nov. 7 to shareholders of record on Oct. 27. The company also repurchased 320,105 shares in the third quarter for $27.0 million, an average cost of $84.35 each. Concentrix still has remaining share-repurchase authorization of more than $300 million.
Cerevel Therapeutics
(CERE)
Perceptive Advisors bought 876,808 shares of the clinical-stage pharmaceutical company through an Oct. 1 public offering at a price of $22.81 apiece. Perceptive now owns 6.2% of Cerevel Therapeutics’ outstanding stock, equal to 10,965,193 shares. Cerevel has lost nearly 12% so far this year.
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