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. 25 through March 3, 2021. Source: InsiderScore.com
OrbiMed Advisors reported a fresh interest in the newly public clinical-stage biopharmaceutical company of 4,061,774 shares. That stake includes 1,666,666 shares purchased at $18 apiece through Decibel Therapeutics’ initial public offering, which closed on Feb. 17. The balance of OrbiMed Advisors’ holdings arose from the conversion of pre-IPO preferred securities into Decibel common stock. After the offering, OrbiMed Advisors holds 16.7% of Decibel’s outstanding shares, making the investor the largest shareholder of the company, according to S&P Capital IQ.
Increases in Holdings
Inclusive Capital increased its investment in the education company to 1,499,349 shares. That figure includes the acquisition of 121,784 Strategic Education shares from Dec. 31 through March 1 at prices ranging from $87.79 to $95.17 per share. Inclusive Capital now holds 6.1% of Strategic Education’s outstanding stock.
Decreases in Holdings
Jana Partners cut its position in the government information-technology services firm by 30%, to 10,752,248 Perspecta shares. From Jan. 7 through March 1, Jana sold 4,534,627 Perspecta shares at prices ranging from $25.98 to $29.57 apiece. Jana now owns a 6.7% interest in Perspecta. On Jan. 27, Perspecta agreed to be acquired by Veritas Capital–backed Peraton for $7.1 billion in cash, equivalent to $29.35 per share. The deal is expected to close by mid-2021. Veritas CEO and managing partner Ramzi Musallam represents Veritas on the board of Perspecta. Veritas owns 14.5% of Perspecta’s tradable stock.
ValueAct Capital reduced its interest in the transportation-and-construction firm to 20.8%. On March 1, ValueAct Capital sold 3.9 million Trinity Industry shares through a block trade sale at a price of $31.95 each. ValueAct Capital provided no reason for the divestment that now leaves it with a stake in Trinity of 23,105,855 outstanding shares.
Focus Financial Partners
KKR (KKR) disclosed that it sold 2,075,424 Class A shares of the wealth management partnership. KKR cut its stake by nearly a third through a secondary offering that priced Focus Financial shares at $48 apiece ($46.20, including the underwriter discount). After the offering closed on March 2, KKR now holds 7,448,385 Focus Financial Class A shares, equal to 13% of the outstanding stock. The share count includes 3,809,602 Focus common units that may be exchanged for Class A stock on a 1-for-1 basis.
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