Blackstone Dumps All Shares in Finance of America Cos.
Ticker: FOACW · Form: SC 13D/A · Filed: Apr 3, 2024 · CIK: 1828937
Sentiment: bearish
Topics: divestment, ownership-change, sec-filing
Related Tickers: FOA
TL;DR
Blackstone is out of Finance of America Companies Inc., sold all 0 shares.
AI Summary
On April 3, 2024, Blackstone Inc. and its affiliated entities filed an SC 13D/A, reporting a change in beneficial ownership of Finance of America Companies Inc. The filing indicates that the Blackstone group now beneficially owns 0 shares, a decrease from a previous holding. This change was effective as of April 3, 2024.
Why It Matters
This filing signifies a complete exit by Blackstone from their investment in Finance of America Companies Inc., potentially impacting the company's stock price and investor confidence.
Risk Assessment
Risk Level: medium — A major investor completely exiting a company can signal underlying issues or a change in strategic direction, posing a risk to existing shareholders.
Key Numbers
- 0 — Shares Owned (Post-filing beneficial ownership by Blackstone group)
Key Players & Entities
- Blackstone Inc. (company) — Reporting entity
- Finance of America Companies Inc. (company) — Subject company
- Stephen A. Schwarzman (person) — Member of the reporting group
FAQ
What was the previous beneficial ownership percentage reported by Blackstone?
The filing does not explicitly state the previous percentage, but indicates a change from a prior holding to 0 shares.
What is the effective date of this change in beneficial ownership?
The effective date of the change is April 3, 2024.
Which specific Blackstone entities are listed as group members in this filing?
The filing lists numerous Blackstone entities including Blackstone Inc., Blackstone Family GP L.L.C., and various Blackstone Tactical Opportunities Funds.
What is the Standard Industrial Classification (SIC) code for Finance of America Companies Inc.?
The SIC code for Finance of America Companies Inc. is 6162, which corresponds to Mortgage Bankers & Loan Correspondents.
Does this filing indicate a sale of shares or a change in reporting status?
The filing indicates a change in beneficial ownership to 0 shares, implying a sale or disposition of all previously held shares.
Filing Stats: 4,631 words · 19 min read · ~15 pages · Grade level 6.2 · Accepted 2024-04-03 17:37:27
Key Financial Figures
- $0.0001 — suer) Class A Common Stock, par value $0.0001 per share (Title of Class of Securiti
Filing Documents
- d803835dsc13da.htm (SC 13D/A) — 427KB
- 0001193125-24-086142.txt ( ) — 430KB
of the Schedule 13D
Item 2 of the Schedule 13D