Heard Capital Discloses Stake in Anterix Inc.

TL;DR

**Heard Capital now owns >5% of Anterix (ATX). Watch this space.**

AI Summary

Heard Capital LLC, along with William E. Heard and William Heard Declaration of Trust, has filed an SC 13D, indicating they collectively beneficially own more than 5% of Anterix Inc. stock. The filing, dated July 29, 2024, does not specify the exact number of shares or dollar amount, but signals a significant stake in the telecommunications company.

Why It Matters

This filing signals a significant investor's interest in Anterix Inc., potentially influencing the company's strategic direction or future corporate actions.

Risk Assessment

Risk Level: medium — The filing indicates a significant ownership stake, which could lead to activist investor behavior or a change in control, but no specific actions or intentions are detailed.

Key Numbers

• >5% — Ownership Stake (Minimum beneficial ownership requiring disclosure)

Key Players & Entities

• Heard Capital LLC (company) — Filing entity
• Anterix Inc. (company) — Subject company
• William E. Heard (person) — Group member
• William Heard Declaration of Trust (company) — Group member

FAQ

Key Financial Figures

• $0.0001 — x Inc. (Name of Issuer) Common Stock, $0.0001 par value (Title of Class of Securiti
• $75,101,645 — the Reporting Persons is approximately $75,101,645.54, including brokerage commissions. I

Filing Documents

• ea0210213-13dheard_anterix.htm (SC 13D) — 113KB
• ea021021301ex99-1_anterix.htm (EX-99.1) — 6KB
• 0001013762-24-002223.txt ( ) — 121KB

Security and Issuer

Item 1. Security and Issuer . This statement relates to the common stock, $0.0001 par value per share (the “Shares”), of Anterix Inc., a Delaware corporation (the “Issuer”). The address of the principal executive office of the Issuer is 3 Garret Mountain Plaza, Suite 401, Woodland Park, NJ 07424.

Identity and Background

Item 2. Identity and Background . (a) This Schedule 13D is filed by: (i) Heard Capital, a Delaware limited liability company, with respect to the Shares directly and beneficially owned by it; (ii) Heard Investment Manager LLC, a Delaware limited liability company (“Heard Investment Manager”), with respect to the Shares directly and beneficially owned by it; (iii) William E. Heard Declaration of Trust, an Illinois trust (the “Trust”), with respect to the Shares directly and beneficially owned by it; and (iv) William Heard, as manager of each of Heard Capital and Heard Investment Manager and trustee and sole beneficiary of the Trust. 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 1 N. Wacker Drive, Suite 3650, Chicago, IL 60606. (c) The principal business of Heard Capital is investing in public equities in the technology, media, telecommunication, financial and industrial sectors and serving as the investment manager of (i) Heard High Conviction Long Only Fund LLC (“Long Only Fund”), (ii) Heard Opportunity Master Fund, L.P. (“Opportunity Master Fund”), which serves as the master fund in which Heard Opportunity Fund LLC (“Opportunity Fund LLC”) invests substantially all of its investable assets and (iii) certain separately managed accounts (the “SMAs”). The principal business of Heard Investment Manager is serving as the sole member with a vested interest in Heard Capital. The principal business of the Trust is serving as the sole member of various entities, including Heard Investment Manager. Mr. Heard is the sole trustee of the Trust and serves as th

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration . The Shares beneficially owned by the Reporting Persons and held by the Long Only Fund and the SMAs were purchased with working capital in open market purchases. The aggregate purchase price of the 1,752,138 Shares beneficially owned by the Reporting Persons is approximately $75,101,645.54, 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 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 Person may deem advisable. On May 28, 2024, Mr. Heard submitted his consent to the Issuer to be named as a director of the Board, and on July 3, 2024, the Issuer filed its definitive proxy candidate of the Issuer to be elected to the Board at the Annual Meeting. If Mr. Heard is not elected by the Issuer’s stockholders at the Annual Meeting, the Reporting Persons may nonetheless work constructively with members of the Issuer’s management team and Board in an effort to continue enhancing and maximizing stockholder value. As a result of Mr. Heard being nominated as a director candidate for election to the Board, the Reporting Persons are converting the beneficial ownership filing on Schedule 13G to a filing on Schedule 13D. 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. The Reporting Persons intend to review their investment in the Issuer on a continuing basis. Depending on various factors, including, without lim

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer . The aggregate percentage of Shares reported beneficially owned by the Reporting Persons is based upon 18,569,297 Shares outstanding as of June 21, 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 June 26, 2024. A. Heard Capital (a) As of the date hereof, 1,115,500 shares were held in Long Only Fund and 636,638 Shares were held in the SMAs. As the investment manager of Long Only Fund and the SMAs, Heard Capital, therefore, beneficially owns these 1,752,138 Shares. Securities of the Issuer may be deposited or otherwise held in Long Only Fund or the SMAs; however, pursuant to the investment management agreements between (i) Heard Capital and Long Only Fund and (ii) Heard Capital and the SMAs, neither Long Only Fund nor the SMAs have any voting, disposition or investment power over the securities of the Issuer, as all such voting, disposition and investment power over of such securities is held by Heard Capital. Percentage: Approximately 9.4% (b) 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 1,752,138 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 1,752,138 7 CUSIP No. 03676C100 B. Heard Investment Manager (a) As of the date hereof, 1,115,500 shares were held in Long Only Fund and 636,638 Shares were held in the SMAs. As the sole member with a vested interest in Heard Capital, Heard Investment Manager may be deemed the beneficial owner of the 1,752,138 shares beneficially owned by Heard Capital. Percentage: Approximately 9.4% (b) 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 1,752,138 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 1,752,138 C. The Trust (a) As of the date hereof, 1,115,500 shar

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 July 29, 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 to the extent required by applicable law. The Joint Filing Agreement is attached hereto as Exhibit 99.1 and is incorporated herein by reference. Additionally, if Mr. Heard is elected as a director of the Issuer, he intends to comply with all applicable policies of the Issuer, including, without limitation, policies related to the trading of the Issuer’s securities. Other than as described herein, there are no contracts, arrangements, understandings or relationships between the Reporting Person 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 July 29, 2024, by and among Heard Capital LLC, Heard Investment Manager LLC, William E. Heard Declaration of Trust and William Heard. 9 CUSIP No. 03676C100

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: July 29, 2024 HEARD CAPITAL LLC By: /s/ William Heard Name: William Heard Title: Chief Executive Officer and Chief Investment Officer HEARD INVESTMENT MANAGER LLC By: /s/ William Heard Name: William Heard Title: Chief Executive Officer WILLIAM E. HEARD DECLARATION OF TRUST By: /s/ William Heard Name: William Heard Title: Sole Trustee /s/ William Heard William Heard 10 CUSIP No. 03676C100 SCHEDULE A Transactions in the Securities of the Issuer During the Past Sixty Days Nature of the Transaction Amount of Securities (Sold) Price ($) Date of Sale HEARD CAPITAL LLC (Through Opportunity Fund LLC and the SMAs) Sale of Common Stock (826 ) 34.0449 05/30/2024 Sale of Common Stock (2,000 ) 33.8242 05/30/2024 Sale of Common Stock (1,024 ) 33.9950 05/31/2024 Sale of Common Stock (5,400 ) 29.7718 06/24/2024 Sale of Common Stock (2,000 ) 30.6055 06/25/2024 Sale of Common Stock (2,500 ) 31.5214 06/25/2024 Sale of Common Stock (2,500 ) 30.6092 06/25/2024 Sale of Common Stock (2,500 ) 31.0548 06/25/2024 Sale of Common Stock (1,500 ) 31.5114 06/26/2024 Sale of Common Stock (1,500 ) 31.2302 06/26/2024 Sale of Common Stock (1,500 ) 31.2560 06/26/2024 Sale of Common Stock (1,500 ) 31.5650 06/26/2024 Sale of Common Stock (1,510 ) 36.6007 06/27/2024 Sale of Common Stock (1,500 ) 36.5130 06/27/2024 Sale of Common Stock (5,000 ) 39.4256 07/01/2024 Sale of Common Stock (7,000 ) 39.6362 07/08/2024 Sale of Common Stock (150 ) 40.7083 07/09/2024 Sale of Common Stock (3,300 ) 40.7083 07/09/2024 Sale of Common Stock (20 ) 40.7083 07/09/2024 Sale of Common Stock (110 ) 40.7083 07/09/2024 Sale of Common Stock (200 ) 40.7083 07/09/2024 Sale of Common

View Full Filing

View this SC 13D filing on SEC EDGAR