Rubric Capital Exits ANI Pharma Stake as of Dec 31, 2023

TL;DR

**Rubric Capital Management LP sold off their ANI Pharmaceuticals stake.**

AI Summary

Rubric Capital Management LP, a New York-based investment firm, filed an SC 13G on February 12, 2024, disclosing that as of December 31, 2023, they beneficially owned 0 shares of ANI Pharmaceuticals, Inc. common stock. This filing indicates that Rubric Capital Management LP no longer holds a reportable ownership stake (above 5%) in ANI Pharmaceuticals, Inc., which could signal a complete exit or significant reduction in their position. This matters to investors because a large institutional investor reducing or eliminating their stake might suggest a change in their outlook on the company's future prospects.

Why It Matters

This filing shows a significant institutional investor, Rubric Capital Management LP, no longer holds a reportable stake in ANI Pharmaceuticals, Inc., which could be interpreted as a loss of confidence or a strategic portfolio reallocation.

Risk Assessment

Risk Level: medium — The exit of an institutional investor can sometimes signal underlying concerns about the company's future performance, posing a medium risk to current shareholders.

Analyst Insight

A smart investor would investigate the reasons behind Rubric Capital Management LP's complete divestment from ANI Pharmaceuticals, Inc. and consider if this signals any negative outlook on the company's future performance or valuation before making investment decisions.

Key Numbers

• 0 — Shares Beneficially Owned (Rubric Capital Management LP's sole voting power as of December 31, 2023)
• December 31, 2023 — Date of Event (The date that triggered the filing requirement for Rubric Capital Management LP)
• February 12, 2024 — Filing Date (The date the SC 13G was filed with the SEC)
• $0.0001 — Par Value (The par value per share of ANI Pharmaceuticals, Inc. Common Stock)

Key Players & Entities

• Rubric Capital Management LP (company) — the reporting person who filed the SC 13G
• ANI Pharmaceuticals, Inc. (company) — the subject company whose securities are being reported
• David Rosen (person) — listed as a group member, though no specific role is detailed in this excerpt
• Delaware (company) — state of incorporation for Rubric Capital Management LP
• New York (company) — city where Rubric Capital Management LP's business address is located

Forward-Looking Statements

• Other institutional investors may re-evaluate their positions in ANI Pharmaceuticals, Inc. following Rubric Capital Management LP's exit. (ANI Pharmaceuticals, Inc.) — medium confidence, target: Q1 2024

FAQ

Key Financial Figures

• $0.0001 — Inc. (Name of Issuer) Common Stock, $0.0001 par value (Title of Class of Securitie

Filing Documents

• tm245464d1_sc13g.htm (SC 13G) — 68KB
• 0001104659-24-013546.txt ( ) — 70KB

(a)

Item 1(a). NAME OF ISSUER: The name of the issuer is ANI Pharmaceuticals, Inc. (the " Issuer ").

(b)

Item 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: The Issuer's principal executive offices are located at 210 Main Street West, Baudette, MN, 56623.

(a)

Item 2(a). NAME OF PERSON FILING: This statement is filed by: (i) Rubric Capital Management LP (" Rubric Capital "), the investment adviser to certain investment funds and/or accounts (collectively, the " Rubric Funds ") that hold the shares of Common Stock (as defined in Item 2(d) below) reported herein; and (ii) David Rosen (" Mr. Rosen "), Managing Member of Rubric Capital Management GP LLC, the general partner of Rubric Capital. The foregoing persons are hereinafter sometimes collectively referred to as the " Reporting Persons ." The filing of this statement should not be construed as an admission that any of the forgoing persons or any Reporting Person is, for the purposes of Section 13 of the Act, the beneficial owner of the Shares reported herein.

(b)

Item 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE: The address of the principal business office of each of the Reporting Persons is 155 East 44th St, Suite 1630, New York, NY 10017.

(c)

Item 2(c). CITIZENSHIP: Rubric Capital is a Delaware limited partnership. Mr. Rosen is a citizen of the United States of America.

(d)

Item 2(d). TITLE OF CLASS OF SECURITIES: Common Stock, $0.0001 par value (the " Common Stock ").

(e)

Item 2(e). CUSIP NUMBER: 00182C103 CUSIP No. 00182C103 13G Page 5 of 8 Pages Item 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13d-1(b) OR 13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A: (a) Broker or dealer registered under Section 15 of the Act, (b) Bank as defined in Section 3(a)(6) of the Act, (c) Insurance Company as defined in Section 3(a)(19) of the Act, (d) Investment Company registered under Section 8 of the Investment Company Act of 1940, (e) An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); (f) Employee Benefit Plan or Endowment Fund in accordance with Rule 13d-1(b)(1)(ii)(F), (g) Parent Holding Company or control person in accordance with Rule 13d-1(b)(1)(ii)(G), (h) Savings Association as defined in Section 3(b) of the Federal Deposit Insurance Act, (i) A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act; (j) A non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J); (k) Group, in accordance with Rule 13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J), please specify the type of institution: __________________________________________ Item 4. The information required by Items 4(a) - (c) is set forth in Rows 5 - 11 of the cover page for each of the Reporting Persons and is incorporated herein by reference. The percentage set forth in Row (11) of the cover page for each of the Reporting Persons is based on the 20,426,683 shares of Common Stock outstanding as of November 1, 2023, as reported in the Issuer's Quarterly on Form 10-Q for the quarterly period ended September 30, 2023 filed with the Securities and Exchange Commission on November 8, 2023. Item 5. Not applicable. Item 6. See Item 2. CUSIP No. 00182C103

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of our knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. DATED: February 12, 2024 RUBRIC CAPITAL MANAGEMENT LP By: /s/ Michael Nachmani Name: Michael Nachmani Title: Chief Operating Officer /s/ David Rosen DAVID ROSEN CUSIP No. 00182C103 13G Page 8 of 8 Pages EXHIBIT 1 JOINT ACQUISITION STATEMENT PURSUANT TO RULE 13d-1(k) The undersigned acknowledge and agree that the foregoing statement on Schedule 13G is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13G shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate. DATED: February 12, 2024 RUBRIC CAPITAL MANAGEMENT LP By: /s/ Michael Nachmani Name: Michael Nachmani Title: Chief Operating Officer /s/ David Rosen DAVID ROSEN

View Full Filing

View this SC 13G filing on SEC EDGAR