MAK Capital Amends Agilysys Stake, Signals Ownership Change

TL;DR

**MAK Capital just updated its Agilysys ownership, watch for potential sentiment shifts!**

AI Summary

MAK Capital One LLC and its affiliates, including MAK Capital Distressed Debt Fund I, LP and MAK Capital Fund LP, filed an Amendment No. 22 to their Schedule 13D on January 16, 2024, indicating a change in their beneficial ownership of Agilysys, Inc. common stock. This amendment, triggered by an event on January 10, 2024, updates their previous filing regarding their stake in the company. This matters to investors because significant changes in ownership by large institutional investors like MAK Capital can signal their evolving sentiment about the company's future prospects, potentially influencing stock price movements.

Why It Matters

Changes in major institutional holdings can indicate a shift in confidence, potentially impacting investor perception and the stock's valuation.

Risk Assessment

Risk Level: low — This filing is an amendment to an existing disclosure, indicating a change in ownership rather than a new, unexpected event.

Analyst Insight

Investors should monitor subsequent filings from MAK Capital to understand the nature and magnitude of their ownership changes, as this could indicate a strategic shift or a change in their investment thesis for Agilysys, Inc.

Key Players & Entities

• MAK Capital One LLC (company) — the primary filing entity and reporting person
• Agilysys, Inc. (company) — the subject company whose securities are being reported
• MAK CAPITAL DISTRESSED DEBT FUND I, LP (company) — a group member of the filing entity
• MAK CAPITAL FUND LP (company) — a group member of the filing entity
• MICHAEL A. KAUFMAN (person) — a group member of the filing entity
• January 10, 2024 (date) — the date of the event requiring the filing
• January 16, 2024 (date) — the filing date of the SC 13D/A
• Amendment No. 22 (number) — the specific amendment number to the Schedule 13D

FAQ

Key Financial Figures

• $81.3596 — Price per Share 12-14-2023 40,105 a $81.3596 12-15-2023 83,566 b $83.273 1-2-2
• $83.273 — 105 a $81.3596 12-15-2023 83,566 b $83.273 1-2-2024 13,510 c $82.3349 1-3-20
• $82.3349 — 83,566 b $83.273 1-2-2024 13,510 c $82.3349 1-3-2024 18,682 d $80.0166 1-4-20
• $80.0166 — 3,510 c $82.3349 1-3-2024 18,682 d $80.0166 1-4-2024 13,710 e $78.1573 1-5-20
• $78.1573 — 8,682 d $80.0166 1-4-2024 13,710 e $78.1573 1-5-2024 19,448 f $77.8991 1-8-20
• $77.8991 — 3,710 e $78.1573 1-5-2024 19,448 f $77.8991 1-8-2024 23,928 g $78.3561 1-9-20
• $78.3561 — 9,448 f $77.8991 1-8-2024 23,928 g $78.3561 1-9-2024 30,768 h $77.3857 1-10-2
• $77.3857 — 3,928 g $78.3561 1-9-2024 30,768 h $77.3857 1-10-2024 55,000 i $76.2393 1-11-
• $76.2393 — ,768 h $77.3857 1-10-2024 55,000 i $76.2393 1-11-2024 28,176 j $76.9023 1-12-
• $76.9023 — ,000 i $76.2393 1-11-2024 28,176 j $76.9023 1-12-2024 44,936 k $75.5891 a 33,
• $75.5891 — ,176 j $76.9023 1-12-2024 44,936 k $75.5891 a 33,247 Shares were sold for MAK Fun

Filing Documents

• agilysys_13da22.htm (SC 13D/A) — 103KB
• 0001019056-24-000024.txt ( ) — 105KB

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, the undersigned each certify that the information with respect to it set forth in this statement is true, complete and correct. Date: January 12, 2024 MAK CAPITAL ONE L.L.C. By: /s/ Michael A. Kaufman Michael A. Kaufman, Managing Member MAK CAPITAL FUND LP By: MAK GP LLC, general partner By: /s/ Michael A. Kaufman Michael A. Kaufman, Managing Member MAK CAPITAL DISTRESSED DEBT FUND I, LP By: MAK DDF-1 GP, LLC, general partner By: /s/ Michael A. Kaufman Michael A. Kaufman, Managing Member By: /s/ Michael A. Kaufman MICHAEL A. KAUFMAN 7 SCHEDULE A RECENT TRANSACTIONS The following transactions on the open market in the shares of Common Stock were effected by the Reporting Persons since December 13, 2023, the date immediately prior to the date of the Reporting Persons last amendment of this Schedule 13D (with the reported price per share being a weighted average): Date Sold Shares Sold Price per Share 12-14-2023 40,105 a $81.3596 12-15-2023 83,566 b $83.273 1-2-2024 13,510 c $82.3349 1-3-2024 18,682 d $80.0166 1-4-2024 13,710 e $78.1573 1-5-2024 19,448 f $77.8991 1-8-2024 23,928 g $78.3561 1-9-2024 30,768 h $77.3857 1-10-2024 55,000 i $76.2393 1-11-2024 28,176 j $76.9023 1-12-2024 44,936 k $75.5891 a 33,247 Shares were sold for MAK Fund and 6,858 Shares were sold for MAK CDD Fund. b 69,276 Shares were sold for MAK Fund and 14,290 Shares were sold for MAK CDD Fund. c 11,200 Shares were sold for MAK Fund and 2,310 Shares were sold for MAK CDD Fund. d 15,487 Shares were sold for MAK Fund and 3,195 Shares were sold for MAK CDD Fund. e 11,366 Shares were sold for MAK Fund and 2,344 Shares were sold for MAK CDD Fund. f 16,122 Shares were sold for MAK Fund and 3,326 Shares were sold for MAK CDD Fund. g 19,836 Shares were sold for MAK Fund and 4,092 Shares were sold for MAK CDD Fund. h 25

View Full Filing

View this SC 13D/A filing on SEC EDGAR