ILJIN SNT Adds Group Members to Aurinia Pharma Filing

TL;DR

ILJIN SNT expanded its group for Aurinia Pharma filing, adding more ILJIN affiliates and individuals.

AI Summary

ILJIN SNT Co., Ltd. filed an amendment (Amendment No. 15) to its Schedule 13D on March 20, 2024, regarding its holdings in Aurinia Pharmaceuticals Inc. The filing indicates a change in the group members, with ILJIN GLS CO., LTD., ILJIN SEMICONDUCTOR CO., LTD., ILJIN STEEL CO., LTD., SAE KYOUNG HUH, and SEOUNG EUN HUH now listed as group members alongside CHIN KYU HUH and ILJIN SNT Co., Ltd. The filing does not disclose specific shareholdings or dollar amounts.

Why It Matters

This amendment signals a potential shift in the collective control or influence over Aurinia Pharmaceuticals Inc. by the expanded ILJIN group.

Risk Assessment

Risk Level: medium — The addition of new group members could indicate a coordinated strategy or increased interest in Aurinia Pharmaceuticals, potentially leading to future actions affecting the stock.

Key Players & Entities

• ILJIN SNT Co., Ltd. (company) — Filing entity
• Aurinia Pharmaceuticals Inc. (company) — Subject company
• ILJIN GLS CO., LTD. (company) — Group member
• ILJIN SEMICONDUCTOR CO., LTD. (company) — Group member
• ILJIN STEEL CO., LTD. (company) — Group member
• SAE KYOUNG HUH (person) — Group member
• SEOUNG EUN HUH (person) — Group member
• CHIN KYU HUH (person) — Group member

FAQ

Filing Documents

• tm249351d1_sc13da.htm (SC 13D/A) — 138KB
• tm249351d1_ex99-1.htm (EX-99.1) — 7KB
• 0001104659-24-036780.txt ( ) — 147KB

Purpose of Transaction

Item 4. Purpose of Transaction

of the Schedule 13D is hereby amended and supplemented to include

Item 4 of the Schedule 13D is hereby amended and supplemented to include the following: On March 20, 2024, Iljin SNT Co., Ltd. (“ILJIN”) delivered a letter to the Issuer’s management team and Board of Directors to express its concerns regarding the composition of the Issuer’s management team and the Issuer’s continued poor performance. In the letter, ILJIN urged the Board of Directors to revamp the Company’s management team and to rationalize the Company’s spending. The foregoing description of the letter does not purport to be complete and is qualified in its entirety by reference to the full text of the letter, which is filed as Exhibit 99.1, and is incorporated herein by reference. The Reporting Persons do not intend to engage in a control transaction, or any contested solicitation for the election of directors, with respect to the Issuer.

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer Paragraphs (a) and (b) of Item 5 of the Schedule 13D are hereby amended and restated to read as follows: (a)-(b) The information requested by these paragraphs is incorporated herein by reference to the cover pages to this Amendment No. 14 to Schedule 13D.

Materials to be Filed as Exhibits

Item 7. Materials to be Filed as Exhibits Exhibit 99.1 Letter to Management and Board of Directors, dated March 20, 2024 9 CUSIP No. 05156V102 SIGNATURE After reasonable inquiry and to the best of the knowledge and belief of the undersigned, the undersigned certify that the information set forth in this statement is true, complete and correct. Dated: March 20, 2024 ILJIN SNT CO., LTD. By: /s/ Young Hwa Kim Name: Young Hwa Kim Title: Authorized Signatory ILJIN SEMICONDUCTOR CO., LTD. By: /s/ Young Hwa Kim Name: Young Hwa Kim Title: Authorized Signatory ILJIN STEEL CO., LTD. By: /s/ Young Hwa Kim Name: Young Hwa Kim Title: Authorized Signatory ILJIN GLS CO. LTD. By: /s/ Young Hwa Kim Name: Young Hwa Kim Title: Authorized Signatory /s/ Chin Kyu Huh Chin Kyu Huh /s/ Sae Kyoung Huh Sae Kyoung Huh /s/ Seoung Eun Huh Seoung Eun Huh

View Full Filing

View this SC 13D/A filing on SEC EDGAR