Petrus Advisers Amends Criteo Stake Filing
Ticker: CRTO · Form: SC 13D/A · Filed: Sep 24, 2024 · CIK: 1576427
| Field | Detail |
|---|---|
| Company | Criteo S.A. (CRTO) |
| Form Type | SC 13D/A |
| Filed Date | Sep 24, 2024 |
| Risk Level | medium |
| Pages | 6 |
| Reading Time | 7 min |
| Key Dollar Amounts | $46, $0 |
| Sentiment | neutral |
Sentiment: neutral
Topics: schedule-13d, amendment, shareholder-activity
Related Tickers: CRTO
TL;DR
Petrus Advisers filed an update on their Criteo holdings - check the details.
AI Summary
Petrus Advisers Ltd. filed an amendment (No. 9) to its Schedule 13D on September 24, 2024, regarding its holdings in Criteo S.A. The filing indicates a change in the reporting person's beneficial ownership of Criteo's American Depositary Shares. Petrus Advisers Ltd., based in London, is the entity making the filing.
Why It Matters
This amendment signals a potential shift in the investment strategy or stake of Petrus Advisers in Criteo, which could influence market perception and stock performance.
Risk Assessment
Risk Level: medium — Amendments to Schedule 13D filings often indicate changes in significant shareholder positions, which can lead to increased volatility.
Key Players & Entities
- Petrus Advisers Ltd. (company) — Filing entity
- Criteo S.A. (company) — Subject company
- Connie Neumann (person) — Authorized contact for Petrus Advisers Ltd.
- KLAUS UMEK (person) — Group member of Petrus Advisers Ltd.
- TILL HUFNAGEL (person) — Group member of Petrus Advisers Ltd.
FAQ
What is the specific change in beneficial ownership reported in this amendment?
The filing is an amendment (No. 9) to Schedule 13D, indicating a change in the reporting person's beneficial ownership of Criteo S.A. American Depositary Shares. Specific details of the change are not provided in the header information.
Who is the filing entity and what is their address?
The filing entity is Petrus Advisers Ltd., located at Eighth Floor, 6 New Street Square, New Fetter Lane, London EC4A 3AQ, United Kingdom.
What is the subject company and its ticker symbol?
The subject company is Criteo S.A. The filing does not explicitly state a ticker symbol, but it refers to its American Depositary Shares.
When was this amendment filed with the SEC?
This amendment was filed on September 24, 2024.
Who is authorized to receive communications on behalf of the filer?
Connie Neumann, Office and compliance manager for Petrus Advisers Ltd., is the person authorized to receive communications.
Filing Stats: 1,795 words · 7 min read · ~6 pages · Grade level 10.1 · Accepted 2024-09-24 16:15:26
Key Financial Figures
- $46 — ght to recall at any time at a price of $46.75, pursuant to a repurchase agreement
- $0 — ght to recall at any time at a price of $0.00, pursuant to a repurchase agreement
Filing Documents
- ea0215483-13da9petrus_criteo.htm (SC 13D/A) — 71KB
- 0001213900-24-081437.txt ( ) — 73KB
Source and Amount of Funds or Other Consideration
Item 3. Source and Amount of Funds or Other Consideration.
of the Schedule 13D is hereby amended and supplemented as follows
Item 3 of the Schedule 13D is hereby amended and supplemented as follows: Because the Reporting Persons have generated more proceeds from sales of ADS than they have spent on acquiring ADS and options to acquire ADS since the filing of Amendment No. 8 on September 19, 2024, the Reporting Persons have not had to source additional funds to acquire the ADS and options to acquire ADS purchased since the filing of Amendment No. 8 on September 19, 2024.
Interest in Securities of the Issuer
Item 5. Interest in Securities of the Issuer
(a)-(c) and (e) of the Schedule 13D is hereby amended and
Item 5(a)-(c) and (e) of the Schedule 13D is hereby amended and supplemented as follows: (a) See rows (11) and (13) of pages 2, 3 and 4 of this Amendment No. 9 for the aggregate number of ADS and percentage of ADS beneficially owned by the Reporting Persons as of September 20, 2024. These amounts include (i) an aggregate 1,200,000 ADS that the Reporting Persons have the right to acquire within 60 days upon exercise of long standardized call options, (ii) 510,000 ADS that the Reporting Persons have the right to recall at any time at a price of $46.75, pursuant to a repurchase agreement with RBC Bank that is scheduled to terminate on October 11, 2024, and (iii) 25,000 ADS that the Reporting Persons have the right to recall at any time at a price of $0.00, pursuant to a repurchase agreement with RBC Bank that currently has no expiration date. The aggregate percentage of ADS reported beneficially owned by the Reporting Persons is based upon 55,985,114 Shares outstanding as of July 26, 2024, as disclosed in the Issuer’s quarterly report on Form 10-Q filed by the Issuer with the Commission on August 1, 2024. (b) See rows (7) through (10) of pages 2, 3 and 4 of this Amendment No. 9 for the ADS as to which the Reporting Persons have the sole or shared power to vote or direct the vote and sole or shared power to dispose or direct the disposition as of September 20, 2024. Each of Petrus, Mr. Hufnagel and Mr. Umek may be deemed to share voting power and share dispositive power over the ADS and options to acquire ADS held directly by the investment vehicles and managed accounts for which Petrus serves as investment manager or portfolio adviser and the private individuals who have signed powers of attorney in favor of Petrus. (c) The transactions in the ADS effected by the Reporting Persons since the filing of Amendment No. 8 on September 19, 2024 and through September 20, 2024 are set forth on Schedule 10 attached hereto. (e) As of September 20, 2024, each of the