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 March 7 through March 13, 2024. Source: VerityData
Increases in Holdings
Archer Aviation Stellantis increased its stake in the electric vertical aircraft manufacturer to 42,399,946 shares. Stellantis did so through the purchase of 3,603,583 Archer Aviation shares from March 4 through March 7, 2024 at per share prices ranging from $4.22 to $4.51.
Pursuant to a forward purchase agreement, Stellantis will have the right to nominate one individual for election to the board at the annual stockholder meeting, set to occur in 2026, as long as it continues to beneficially own at least 12.5% of Archer's Class A common stock.
Following the purchases, Stellantis owns 15.1% of Archer Aviation's outstanding stock. Archer Aviation shares have lost roughly 12% year to date.
Decreases in Holdings
Garrett Motion Cyrus Capital Partners lowered its stake in the auto hardware maker to 28,827,284 shares. Cyrus did so through the sale of 729,860 Garrett Motion shares from Feb. 15 through March 5, 2024, at per share prices ranging from $9.15 to $9.91. Following the sales, Cyrus Capital Partners continues to hold an additional 12.1% of Garrett Motion's outstanding stock. Garrett Motion shares have remained mostly flat year to date.
BJ's Restaurants
Fund 1 Investments cut its stake in the restaurant owner and operator to 2,326,476 shares. Fund 1 Investments sold 242,000 BJ's Restaurants shares on March 4, 2024, at a price of $35.53 apiece. Fund 1 Investments entered into a cooperation agreement with BJ's Restaurants on Feb. 27, pursuant to which BJ's Restaurants appointed C. Bradford Richmond to the board until his re-election at the 2024 annual meeting. Following the sale, Fund 1 Investments now owns 9.9% of BJ's Restaurants' outstanding stock. BJ's Restaurants shares have gained roughly 2% year to date.
Potbelly 180 Degree Capital reduced its stake in the restaurant franchise group to 1,761,429 shares. 180 Degree did so through the sale of 433,222 Potbelly shares from Jan. 16 through March 7, 2024, at prices ranging from $12.37 to $13.59 apiece. 180 Degree Capital offset those sales with the purchase of 25,500 Potbelly shares at $11.90 on March 11, 2024. Following the sales, 180 Degree Capital owns 6% of Potbelly's outstanding stock. Potbelly shares have gained about 17% year to date.
Donnelley Financial Solutions Simcoe Capital Management reduced its stake in the global risk and compliance solutions company to 2,232,487 shares. Simcoe Capital Management sold 253,776 Donnelley Financial shares through two affiliates from March 6 to March 7, 2024, at prices ranging from $61.75 to $65.50 apiece. Following the sale, Simcoe Capital now holds 7.7% of Donnelley Financial's outstanding stock. Shares of Donnelley Financial have gained roughly 5.2% year to date.
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(END) Dow Jones Newswires
March 15, 2024 18:30 ET (22:30 GMT)
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