Renew Group Takes 1.62M Share Stake in Cumulus Media

TL;DR

**Renew Group just bought 1.62M shares of Cumulus Media, making them a major player.**

AI Summary

Renew Group Private Ltd., a Singapore-based entity, has filed an SC 13D indicating beneficial ownership of 1,621,426 shares of Cumulus Media Inc. Class A Common Stock, representing a significant stake in the radio broadcasting company. This filing, dated January 22, 2023, signals a substantial investment by Renew Group, potentially influencing future strategic decisions or operations at Cumulus Media. Investors should note this as a new major shareholder, which could lead to increased scrutiny or pressure on management.

Why It Matters

A new major shareholder like Renew Group Private Ltd. could push for changes in Cumulus Media's strategy, operations, or even management, potentially impacting the stock's performance.

Risk Assessment

Risk Level: medium — The entry of a new significant shareholder can introduce uncertainty regarding future company direction, which could be positive or negative.

Analyst Insight

Investors should monitor future filings from Renew Group Private Ltd. (e.g., amendments to this 13D) for any stated intentions or further actions regarding their stake in Cumulus Media Inc., as this could signal potential changes or activist involvement.

Key Numbers

• 1,621,426 — shares beneficially owned (total Class A Common Stock shares of Cumulus Media Inc. held by Renew Group Private Ltd.)
• $0.0000001 — par value per share (par value of Cumulus Media Inc. Class A Common Stock)
• 231082801 — CUSIP Number (identifies Cumulus Media Inc. Class A Common Stock)
• January 22, 2023 — Date of Event (date requiring the filing of this statement)

Key Players & Entities

• Renew Group Private Ltd. (company) — reporting person and beneficial owner
• Cumulus Media Inc. (company) — subject company (issuer)
• Ravinder Sajwan (person) — person authorized to receive notices for Renew Group
• Peter D. Fetzer (person) — legal counsel for Renew Group
• Foley & Lardner LLP (company) — law firm representing Renew Group
• Singapore (company) — place of organization for Renew Group Private Ltd.

Forward-Looking Statements

• Renew Group Private Ltd. will seek to engage with Cumulus Media Inc. management regarding strategic direction. (Renew Group Private Ltd.) — medium confidence, target: Within 6-12 months
• The increased ownership by Renew Group Private Ltd. could lead to a re-evaluation of Cumulus Media Inc.'s operational efficiency. (Cumulus Media Inc.) — medium confidence, target: Within 1 year

FAQ

Key Financial Figures

• $0.0000001 — ssuer) Class A Common Stock, par value $0.0000001 per share (Title of Class of Securiti
• $0.00000001 — to the class A common stock, par value $0.00000001 (" Common Stock ") of Cumulus Media Inc
• $6,835,932 — ompany acquired at an aggregate cost of $6,835,932. As of the date of this filing, the Re
• $5.28 — ice Avg Price 10/19/2023 (11,600) $5.28 $5.03 $5.13 10/20/2023 70,400 $5.1
• $5.03 — vg Price 10/19/2023 (11,600) $5.28 $5.03 $5.13 10/20/2023 70,400 $5.18 $4.9
• $5.13 — e 10/19/2023 (11,600) $5.28 $5.03 $5.13 10/20/2023 70,400 $5.18 $4.98 $4.9
• $5.18 — 5.28 $5.03 $5.13 10/20/2023 70,400 $5.18 $4.98 $4.98 10/23/2023 3,822 $4.99
• $4.98 — 5.03 $5.13 10/20/2023 70,400 $5.18 $4.98 $4.98 10/23/2023 3,822 $4.99 $4.99
• $4.99 — $5.18 $4.98 $4.98 10/23/2023 3,822 $4.99 $4.99 $4.99 10/27/2023 90,890 $4.8
• $4.83 — 4.99 $4.99 $4.99 10/27/2023 90,890 $4.83 $4.71 $4.79 10/30/2023 68,358 $4.7
• $4.71 — 4.99 $4.99 10/27/2023 90,890 $4.83 $4.71 $4.79 10/30/2023 68,358 $4.79 $4.6
• $4.79 — 4.99 10/27/2023 90,890 $4.83 $4.71 $4.79 10/30/2023 68,358 $4.79 $4.62 $4.7
• $4.62 — 4.71 $4.79 10/30/2023 68,358 $4.79 $4.62 $4.74 10/31/2023 35,066 $4.58 $4.4
• $4.74 — 4.79 10/30/2023 68,358 $4.79 $4.62 $4.74 10/31/2023 35,066 $4.58 $4.47 $4.5
• $4.58 — 4.79 $4.62 $4.74 10/31/2023 35,066 $4.58 $4.47 $4.53 11/1/2023 856 $4.58 $

Filing Documents

• renewcumulus13d.htm (SC 13D) — 82KB
• 0000897069-24-000197.txt ( ) — 83KB

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of our knowledge and belief, we certify that the information set forth in this statement is true, complete and correct. Dated: January 23, 2024 RENEW GROUP PRIVATE LTD. By: /s/ Ravinder Sajwan Name: Ravinder Sajwan Title: Chief Executive Officer Schedule A Control Person, Executive Officers and Directors of Renew Group Private Ltd. Name and Position Renew Group Private Ltd. Present Principal Business, Occupation or Employment Name, Principal Business and Address of Entity in Which Business Conducted Citizenship Ravinder Sajwan, Chief Executive Officer and Director (Control Person) Mr. Sajwan is Chief Executive Officer and a Director of Renew Group Private Ltd. Renew Group Private, Ltd., a company that owns and operates various companies in medical, energy, water, media and other industries for both industrial and consumer use, located at 463 MacPherson Road, Singapore 368181 Singapore Weng Peng Low, Vice President – Investments and Finance and Director Mr. Low is Vice President – Investments and Finance and a Director of Renew Group Private Ltd. Renew Group Private, Ltd., a company that owns and operates various companies in medical, energy, water, media and other industries for both industrial and consumer use, located at 463 MacPherson Road, Singapore 368181 Singapore Indu Rawat, Director Mrs. Rawat is general partner of IR Investments LP. IR Investments, LP is a private partnership that makes investments across a broad spectrum of financial instruments including personal property, commercial paper, common stock, preferred, commodities, futures, partnership interests and debt, located at 5A Shenton Way #31-15 Singapore 068814 Canada

View Full Filing

View this SC 13D filing on SEC EDGAR