Onex Corp. Files SC 13D/A Amendment for Emerald Holding Stake

TL;DR

**Onex Corp. just reaffirmed its big stake in Emerald Holding, signaling continued institutional backing.**

AI Summary

Onex Corporation, a Canadian private equity firm, filed an amended Schedule 13D/A on January 2, 2024, updating its beneficial ownership in Emerald Holding, Inc. This filing, Amendment No. 2, indicates a continued significant stake by Onex and its affiliated entities in Emerald Holding, Inc. This matters to investors because Onex's substantial ownership suggests a long-term strategic interest in Emerald Holding, Inc., potentially influencing future corporate decisions and stock performance.

Why It Matters

Onex Corporation's continued significant ownership in Emerald Holding, Inc. signals a strong institutional belief in the company's future, which could provide stability and influence strategic direction.

Risk Assessment

Risk Level: low — This filing is an amendment, not an initial disclosure, and indicates a stable, significant ownership by a major institutional investor, which generally reduces risk.

Analyst Insight

A smart investor would monitor future filings from Onex Corporation regarding Emerald Holding, Inc. to track any changes in their ownership or stated intentions, as significant changes could impact the stock's valuation.

Key Numbers

• 29103W104 — CUSIP Number (Identifies Emerald Holding, Inc.'s Common Stock)
• 005-90104 — SEC File Number (Unique identifier for Emerald Holding, Inc.'s SEC filings)
• 20240102 — Filing Date (Date the SC 13D/A amendment was filed)

Key Players & Entities

• Onex Corporation (company) — filer of the SC 13D/A, a Canadian private equity firm
• Emerald Holding, Inc. (company) — the subject company in which Onex Corporation holds a significant stake
• Colin Sam (person) — contact person for Onex Corporation
• $0.01 (dollar_amount) — par value per share of Emerald Holding, Inc. Common Stock

Forward-Looking Statements

• Onex Corporation will maintain a significant ownership stake in Emerald Holding, Inc. (Onex Corporation) — high confidence, target: 2025-01-02
• Emerald Holding, Inc.'s strategic decisions will continue to be influenced by Onex Corporation's substantial ownership. (Emerald Holding, Inc.) — medium confidence, target: 2025-01-02

FAQ

Key Financial Figures

• $0.01 — me of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securiti

Filing Documents

• formsc13da.htm (SC 13D/A) — 605KB
• ex1.htm (EX-1) — 74KB
• 0001493152-24-000088.txt ( ) — 682KB

Identity

Item 2. Identity and Background. Item 2 of the Schedule 13D is hereby amended and supplemented as follows: The list of Reporting Persons is amended with (i) the addition of Onex Partners Holdings LLC, which is organized under the laws of Delaware, and Onex OP V Holdings SARL, which is organized under the laws of Luxembourg; and (ii) the removal of Onex Expo SARL, Onex American Holdings Subco LLC, OAH Wind LLC, Expo EI LLC, Expo EI II LLC, Expo EI III LLC, Onex Partners Manager GP ULC, Onex Partners Manager LP and Onex Advisor Subco LLC.

Purpose

Item 4. Purpose of Transaction. Item 4 of the Schedule 13D is hereby amended and supplemented as follows: As a result of internal restructurings on December 21, 2023, Onex Expo SARL was dissolved. The Common Stock previously held of record by Onex Expo SARL is now held of record by Onex OP V Holdings SARL. CUSIP No. 29103W104 13D Page 28 of 32 Pages

Interest

Item 5. Interest in Securities of the Issuer. Item 5(a) – (b) of the Schedule 13D is hereby amended and restated in its entirety by inserting the following information: The following sets forth, as of the date of this Schedule 13D, the aggregate number of shares of Common Stock and percentage of Common Stock beneficially owned by each of the Reporting Persons, as well as the number of shares of Common Stock as to which each Reporting Person has the sole power to vote or to direct the vote, shared power to vote or to direct the vote, sole power to dispose or to direct the disposition of, or shared power to dispose or to direct the disposition of, as of the date hereof, based on 243,935,508 shares of Common Stock outstanding, which includes 62,892,423 shares of Common Stock outstanding as of November 2, 2023 and 181,043,085 shares of Common Stock issuable upon conversion of 69,718,919 shares of Series A Preferred Stock held of record by Gem Aggregator. Reporting Person Amount beneficially owned Percent of class Sole power to vote or to direct the vote Shared power to vote or to direct the vote Sole power to dispose or to direct the disposition Shared power to dispose or to direct the disposition Onex Corporation 227,630,834 93.3% 0 227,630,834 0 227,630,834 Gerald W. Schwartz 228,101,417 93.5% 0 228,101,417 0 228,101,417 Onex Partners GP Inc. 35,039,404 14.4% 0 35,039,404 0 35,039,404 Onex Partners III GP LP 35,039,404 14.4% 0 35,039,404 0 35,039,404 Onex Partners III LP 33,135,329 13.6% 0 33,135,329 0 33,135,329 Onex Partners III PV LP 420,116 0.2% 0 420,116 0 420,116 Onex Partners III Select LP 106,562 0.0% 0 106,562 0 106,562 Onex American Holdings II LLC 423,159 0.2% 0 423,159 0 423,159 Onex American Holdings GP LLC 423,159 0.2% 0 423,159 0 423,159 Onex US Principals LP 423,159 0.2% 0 423,159 0 42

View Full Filing

View this SC 13D/A filing on SEC EDGAR