Magnetar Financial Exits Aeries Technology Stake
Ticker: AERTW · Form: SC 13G/A · Filed: Jan 26, 2024 · CIK: 1853044
Complexity: simple
Sentiment: bearish
Topics: institutional-exit, beneficial-ownership, amendment, portfolio-change
TL;DR
**Magnetar Financial just dumped all its Aeries Tech shares.**
AI Summary
Magnetar Financial LLC, a Delaware-based investment firm, has filed an exit amendment (SC 13G/A) for its holdings in Aeries Technology, Inc. as of December 31, 2023. This filing indicates that Magnetar Financial LLC, along with its group members David J. Snyderman and Magnetar Capital Partners LP, no longer holds a reportable beneficial ownership stake in Aeries Technology's Class A Common Stock. This matters to investors because a significant institutional investor has fully exited its position, which could signal a change in their outlook on the company's future prospects.
Why It Matters
This filing signals that a major institutional investor, Magnetar Financial LLC, has completely sold off its shares in Aeries Technology, which could be interpreted negatively by the market.
Risk Assessment
Risk Level: medium — The exit of an institutional investor like Magnetar Financial LLC could indicate a lack of confidence, potentially leading to downward pressure on the stock price.
Analyst Insight
A smart investor would investigate the reasons behind Magnetar Financial LLC's complete exit from Aeries Technology, Inc. and consider if this signals underlying issues before making any investment decisions.
Key Numbers
- 0 — Sole Voting Power (Magnetar Financial LLC now holds zero shares with sole voting power in Aeries Technology, Inc.)
- 0 — Shared Voting Power (Magnetar Financial LLC now holds zero shares with shared voting power in Aeries Technology, Inc.)
Key Players & Entities
- Magnetar Financial LLC (company) — the reporting person exiting its position
- Aeries Technology, Inc. (company) — the subject company whose shares were sold
- David J. Snyderman (person) — a group member associated with Magnetar Capital Partners LP
- Magnetar Capital Partners LP (company) — a group member associated with Magnetar Financial LLC
- Delaware (company) — place of organization for Magnetar Financial LLC
Forward-Looking Statements
- Aeries Technology's stock price may experience downward pressure due to the institutional exit. (Aeries Technology, Inc.) — medium confidence, target: Q1 2024
FAQ
What type of filing is this and what does it signify for Magnetar Financial LLC?
This is an SC 13G/A filing, specifically an "Amendment No. 2 – Exit Filing," which signifies that Magnetar Financial LLC no longer beneficially owns a reportable stake in Aeries Technology, Inc. as of December 31, 2023.
Who are the group members associated with Magnetar Financial LLC in this filing?
The group members listed in the filing are David J. Snyderman, Magnetar Capital Partners LP, and Supernova Management LLC.
What is the CUSIP number for the class of securities involved in this filing?
The CUSIP number for the Class A Common Stock of Aeries Technology, Inc. is G0136H102.
What was the date of the event that required this filing?
The date of the event which required the filing of this statement was December 31, 2023.
What is the current beneficial ownership of shares by Magnetar Financial LLC in Aeries Technology, Inc. according to this filing?
According to the filing, Magnetar Financial LLC now holds 0 shares with sole voting power and 0 shares with shared voting power, indicating a complete exit from their beneficial ownership position.
Filing Stats: 1,481 words · 6 min read · ~5 pages · Grade level 12.1 · Accepted 2024-01-26 14:40:10
Filing Documents
- tm243910d9_sc13ga.htm (SC 13G/A) — 118KB
- tm243910d9_ex99-1.htm (EX-99.1) — 9KB
- tm243910d9_ex99-2.htm (EX-99.2) — 5KB
- 0001104659-24-007175.txt ( ) — 133KB
(a) Name of Issuer
Item 1(a) Name of Issuer. AERIES TECHNOLOGY, INC. (the “Issuer”)
(b) Address of Issuer's Principal Executive Offices
Item 1(b) Address of Issuer's Principal Executive Offices. 60 Paya Labar Road, #08-13 Paya Lebar Square Singapore
(a) Name of Person Filing
Item 2(a) Name of Person Filing. This statement is filed on behalf of each of the following person (collectively, the "Reporting Persons"): i) Magnetar Financial LLC ("Magnetar Financial"); ii) Magnetar Capital Partners LP (Magnetar Capital Partners"); iii) Supernova Management LLC ("Supernova Management"); and iv) David J. Snyderman ("Mr. Snyderman"). Magnetar Financial serves as the investment adviser to the Magnetar Funds, and as such, Magnetar Financial exercises voting and investment power over the Shares held for the Magnetar Funds’ accounts. Magnetar Capital Partners serves as the sole member and parent holding company of Magnetar Financial. Supernova Management is the general partner of Magnetar Capital Partners. The manager of Supernova Management is Mr. Snyderman.
(b) Address of Principal Business Office
Item 2(b) Address of Principal Business Office. The address of the principal business office of each of Magnetar Financial, Magnetar Capital Partners, Supernova Management, and Mr. Snyderman is 1603 Orrington Avenue, 13 th Floor, Evanston, Illinois 60201.
(c) Place of Organization
Item 2(c) Place of Organization. i) Magnetar Financial is a Delaware limited liability company; ii) Magnetar Capital Partners is a Delaware limited partnership; iii) Supernova Management is a Delaware limited liability company; and iv) Mr. Snyderman is a citizen of the United
(d) Title of Class of Securities
Item 2(d) Title of Class of Securities. Common Stock
(e) CUSIP Number
Item 2(e) CUSIP Number. G0136H102
Reporting Person
Item 3 Reporting Person. (e) An investment adviser in accordance with §240.13d–1(b)(1)(ii)(E) (g) A parent holding company or control person in accordance with §240.13d–1(b)(1)(ii)(G)
(a) Amount Beneficially Owned
Item 4(a) Amount Beneficially Owned: As of December 31, 2023, each of Magnetar Financial, Magnetar Capital Partners, Supernova Management and Mr. Snyderman held 0 Shares. The Shares held by the Magnetar Funds represent approximately 0.00% of the total number of Shares outstanding (calculated pursuant to Rule 13d-3(d)(1)(i)) of the outstanding shares of the Issuer).
(b) Percent of Class
Item 4(b) Percent of Class: (i) As of December 31, 2023, each of Reporting Persons were deemed to be the beneficial owner constituting approximately 0.00% of the total number of Shares outstanding (based upon the information provided by the Issuer in its Form 10-Q filed with the SEC on November 14, 2023, there were approximately 15,257,666 Shares outstanding as of November 14, 2023).
(c) Number of Shares of which such
Item 4(c) Number of Shares of which such person has: Magnetar Financial, Magnetar Capital Partners, Supernova Management, and Mr. Snyderman: (i) Sole power to vote or to direct the vote: 0 (ii) Shared power to vote or to direct the vote : 0 (iii) Sole power to dispose or to direct the disposition of: 0 (iv) Shared power to dispose or to direct the disposition of: 0
Ownership of Five Percent or Less of a Class
Item 5 Ownership of Five Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following .
Ownership of More Than Five Percent on Behalf of Another Person
Item 6 Ownership of More Than Five Percent on Behalf of Another Person. This Item 6 is not applicable.
Identification and Classification of the Subsidiary which Acquired
Item 7 Identification and Classification of the Subsidiary which Acquired the Security Being Reported On by the Parent Holding Company. This Item 7 is not applicable.
Identification and Classification of Members of the Group
Item 8 Identification and Classification of Members of the Group. This Item 8 is not applicable.
Notice of Dissolution of Group
Item 9 Notice of Dissolution of Group. This Item 9 is not applicable.
Certification
Item 10 Certification. By signing below the Reporting Persons certifies that, to the best of their knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: January 26, 2024 magnetar financial llc By: Magnetar Capital Partners LP, its Sole Member By: Supernova Management LLC, its General Partner By: /s/ Hayley A. Stein Name: Hayley A. Stein Title: Attorney-in-fact for David J. Snyderman, Manager of Supernova Management LLC Date: January 26, 2024 magnetar capital partners LP By: Supernova Management LLC, its General Partner By: /s/ Hayley A. Stein Name: Hayley A. Stein Title: Attorney-in-fact for David J. Snyderman, Manager of Supernova Management LLC Date: January 26, 2024 supernova management llc By: /s/ Hayley A. Stein Name: Hayley A. Stein Title: Attorney-in-fact for David J. Snyderman, Manager Date: January 26, 2024 DAVID J. SNYDERMAN By: /s/ Hayley A. Stein Name: Hayley A. Stein Title: Attorney-in-fact for David J. Snyderman EXHIBIT INDEX Exhibit No. Description 99.1 Joint Filing Agreement, dated as of January 26, 2024, among the Reporting Persons. 99.2 Power of Attorney, dated as of December 22, 2022 filed by the Reporting Persons on January 26, 2024.