Archon Capital Management Files 13D for Apyx Medical

TL;DR

**Archon Capital Management now has a significant stake in APYX. Watch this space.**

AI Summary

Archon Capital Management LLC has filed a Schedule 13D for Apyx Medical Corporation, indicating a change in their beneficial ownership. The filing was made on April 5, 2024, and concerns Apyx Medical Corporation's common stock. Archon Capital Management LLC is based in Seattle, WA.

Why It Matters

This filing signals a significant stake or change in control interest by Archon Capital Management in Apyx Medical, potentially influencing the company's strategic direction or stock performance.

Risk Assessment

Risk Level: medium — Schedule 13D filings often precede activist campaigns or significant corporate actions, introducing uncertainty and potential volatility for the stock.

Key Players & Entities

• Archon Capital Management LLC (company) — Filing entity
• Apyx Medical Corporation (company) — Subject company
• 0000719135 (company) — Apyx Medical Corporation Central Index Key
• 0001398825 (company) — Archon Capital Management LLC Central Index Key
• 20240405 (date) — Filing date

FAQ

Key Financial Figures

• $0.001 — ame of Issuer) Common Stock, par value $0.001 (Title of Class of Securities) 03837
• $6,450,564 — tly owned by Strategos is approximately $6,450,564, including brokerage commissions. The a
• $5,131,627 — ed by Strategos Master is approximately $5,131,627, including brokerage commissions. Item

Filing Documents

• sc13d00322001_04042024.htm (SC 13D) — 165KB
• ex991to13d00322001_040424.htm (EX-99.1) — 13KB
• 0000921895-24-000805.txt ( ) — 179KB

Security and Issuer

Item 1. Security and Issuer . This statement relates to the Common Stock, par value $0.001 (the “Shares”), of Apyx Medical Corporation, a Delaware corporation (the “Issuer”). The address of the principal executive office of the Issuer is 5115 Ulmerton Road, Clearwater, Florida 33760.

Identity and Background

Item 2. Identity and Background . (a) This (i) Strategos Fund, L.P., a Delaware limited partnership (“Strategos”), with respect to the Shares directly owned by it; (ii) Strategos Master Fund, L.P., a limited partnership organized under the laws of the Cayman Islands (“Strategos Master”), with respect to the Shares directly owned by it; (iii) Strategos Master Fund GP LLC, a Delaware limited liability company (“Strategos GP”), with respect to the Shares beneficially owned by it as the general partner of Strategos Master; (iv) Archon Capital Management LLC, a Washington limited liability company (“Archon”), with respect to the Shares beneficially owned by it as the general partner and investment manager of Strategos and the investment manager of Strategos Master; and (v) Constantinos Christofilis, with respect to the Shares beneficially owned by him as the Managing Member of Archon. Each of the foregoing is referred to as a “Reporting Person” and collectively as the “Reporting Persons.” Each of the Reporting Persons is party to that certain Joint Filing Agreement, as further described in Item 6. Accordingly, the Reporting Persons are hereby filing a joint Schedule 13D. (b) The principal business address of each of the Reporting Persons is 1100 19 th Avenue E, Seattle, Washington 98112. (c) The principal business of Strategos is investing in securities. The principal business of Strategos Master is investing in securities. The principal business of Strategos GP is serving as the general partner of Strategos Master. The principal business of Archon is serving as the general partner and investment manager of Strategos and the investment manager of Strategos Master. The principal occupation of Mr. Christofilis is serving as the Managing Member of Archon. (d) No Reporting Person has, during the last five years, been convicted in a criminal proceeding (excluding tra

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration . The Shares purchased by both Strategos and Strategos Master were purchased with working capital (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business). The aggregate purchase price of the 1,972,460 Shares directly owned by Strategos is approximately $6,450,564, including brokerage commissions. The aggregate purchase price of the 1,479,570 Shares directly owned by Strategos Master is approximately $5,131,627, including brokerage commissions.

Purpose of Transaction

Item 4. Purpose of Transaction . The Reporting Persons purchased the Shares based on the Reporting Persons’ belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity. Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of Shares at prices that would make the purchase or sale of Shares desirable, the Reporting Persons may endeavor to increase or decrease their position in the Issuer through, among other things, the purchase or sale of Shares on the open market or in private transactions or otherwise, on such terms and at such times as the Reporting Persons may deem advisable. The Reporting Persons have engaged, and intend to continue to engage, in communications with the Issuer’s Board of Directors (the “Board”) and management team regarding means of increasing stockholder value at the Issuer, including by enhancing the Board through the addition of well-qualified directors. No Reporting Person has any present plan or proposal which would relate to or result in any of the matters set forth in subparagraphs (a) - (j) of Item 4 of Schedule 13D except as set forth herein or such as would occur upon or in connection with completion of, or following, any of the actions discussed herein. Depending on various factors including, without limitation, the Issuer’s financial position and investment strategy, the price levels of the Shares, conditions in the securities markets and general economic and industry conditions, the Reporting Persons may in the future take such actions with respect to their investment in the Issuer as they deem appropriate including, without limitation, engaging in communications with management and the Board, engaging in discussions with stockholders of the Issuer or third parties, making proposals to the Issuer concerning changes to the Board structure (including Board composition) or opera

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer . The aggregate percentage of Shares reported owned by each person named herein is based upon 34,643,926 Shares outstanding as of March 19, 2024, which is the total number of Shares outstanding as reported in the Issuer’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission on March 21, 2024. A. Strategos (a) As of the date hereof, Strategos directly owned 1,972,460 Shares. 8 CUSIP No. 03837C106 Percentage: Approximately 5.69% (b) 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 1,972,460 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 1,972,460 B. Strategos Master (a) As of the date hereof, Strategos Master directly owned 1,479,570 Shares. Percentage: Approximately 4.27% (b) 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 1,479,570 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 1,479,570 C. Strategos GP (a) As of the date hereof, Strategos GP, as the general partner of Strategos Master, may be deemed to beneficially own the 1,479,570 Shares directly owned by Strategos Master. Percentage: Approximately 4.27% (b) 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 1,479,570 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 1,479,570 D. Archon (a) As of the date hereof, Archon, as the general partner and investment manager of Strategos and the investment manager of Strategos Master, may be deemed to beneficially own the 1,972,460 Shares directly owned by Strategos and the 1,479,570 Shares directly owned by Strategos Master. Percentage: Approximately 9.96% (b) 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 3,452,030 3. Sole power to dispose or direct the d

Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer

Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer . On April 5, 2024, the Reporting Persons entered into a Joint Filing Agreement in which the Reporting Persons agreed to the joint filing on behalf of each of them of statements on Schedule 13D with respect to the securities of the Issuer. A copy of this agreement is attached as an exhibit hereto and is incorporated herein by reference. Other than as described herein, there are no contracts, arrangements, understandings or relationships among the Reporting Persons, or between the Reporting Persons and any other person, with respect to the securities of the Issuer.

Material to be Filed as Exhibits

Item 7. Material to be Filed as Exhibits . 99.1 Joint Filing Agreement dated April 5, 2024. 10 CUSIP No. 03837C106

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: April 5, 2024 STRATEGOS FUND, L.P. By: Archon Capital Management LLC, its General Partner By: /s/ Constantinos Christofilis Name: Constantinos Christofilis Title: Managing Member STRATEGOS MASTER FUND, L.P. By: Archon Capital Management LLC, its Investment Manager By: /s/ Constantinos Christofilis Name: Constantinos Christofilis Title: Managing Member STRATEGOS MASTER FUND GP LLC By: Archon Capital Management LLC, its Sole Member By: /s/ Constantinos Christofilis Name: Constantinos Christofilis Title: Managing Member ARCHON CAPITAL MANAGEMENT LLC By: /s/ Constantinos Christofilis Name: Constantinos Christofilis Title: Managing Member /s/ Constantinos Christofilis CONSTANTINOS CHRISTOFILIS 11

View Full Filing

View this SC 13D filing on SEC EDGAR