Converium Capital Amends Franklin Street Properties Stake Filing

TL;DR

Converium Capital updated its filing on FSP. Watch for more details.

AI Summary

On December 2, 2024, Converium Capital Inc. filed an amendment (SC 13D/A) to its Schedule 13D, indicating a change in its beneficial ownership of Franklin Street Properties Corp. The filing does not disclose specific share amounts or dollar values but signifies an update to Converium Capital's stake in the company.

Why It Matters

This filing signals a potential shift in the ownership structure or strategy of Franklin Street Properties Corp., which could impact its stock price and future business decisions.

Risk Assessment

Risk Level: medium — Schedule 13D/A filings often precede significant corporate actions or changes in control, introducing uncertainty.

Key Players & Entities

• Converium Capital Inc. (company) — Filing entity
• Franklin Street Properties Corp. (company) — Subject company
• AARON STERN (person) — Group member
• BRUCE SCHANZER (person) — Group member
• EREZ ASSET MANAGEMENT LLC (company) — Group member
• EREZ REIT OPPORTUNITIES LP (company) — Group member

FAQ

Key Financial Figures

• $0.0001 — me of Issuer) Common Stock, par value $0.0001 per share (Title of Class of Securitie

Filing Documents

• p24-3453sc13da.htm (SC 13D/A) — 81KB
• p24-3453exhibit99_2.htm (EX-99.2) — 84KB
• 0000902664-24-006808.txt ( ) — 167KB

is hereby amended and supplemented as follows

Item 4 is hereby amended and supplemented as follows: On November 27, 2024, Converium, the Converium Funds, Erez Opportunities and Erez Asset Management entered into a cooperation agreement with the Issuer (the " Cooperation Agreement "). Pursuant to the Cooperation Agreement, Mr. Schanzer was appointed to the Board. The full text of the Cooperation Agreement is included as Exhibit 99.2 and is incorporated by reference herein. Item 5. INTEREST IN SECURITIES OF THE ISSUER Items 5(a)-(c) and (e) are hereby amended and restated in their entirety as follows: (a) See rows (11) and (13) of the cover pages to this Schedule 13D for the aggregate number of shares of Common Stock and percentage of shares of Common Stock beneficially owned by the Reporting Persons. The aggregate percentage of shares of Common Stock reported beneficially owned by the Reporting Persons is based upon 103,566,715 shares of Common Stock outstanding as of October 24, 2024, as disclosed in the Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2024, filed by the Issuer with the Securities and Exchange Commission on October 29, 2024. As of the close of business on the date hereof, the Converium Reporting Persons may be deemed to beneficially own 3,689,239 shares of Common Stock, representing approximately 3.6% of the shares of Common Stock outstanding. As of the close of business on the date hereof, the Erez Reporting Persons may be deemed to beneficially own 3,294,874 shares of Common Stock, representing approximately 3.2% of the shares of Common Stock outstanding. As a result of the Cooperation Agreement, the Converium Reporting Persons and the Erez Reporting Persons have terminated their status as, and may no longer to be deemed to be members of, a "group" within the meaning of Section 13(d)(3) of the Act. (b) See rows (7) through (10) of the cover pages to this Schedule 13D for the shares of Common Stock as to which the Reporting Persons have the

is hereby amended and supplemented as follows

Item 6 is hereby amended and supplemented as follows:

of this Amendment No. 1 is incorporated herein by reference

Item 4 of this Amendment No. 1 is incorporated herein by reference. Item 7. EXHIBITS

is hereby amended and supplemented as follows

Item 7 is hereby amended and supplemented as follows: Exhibit 99.2 Cooperation Agreement. CUSIP No. 35471R106 Schedule 13D/A Page 8 of 8 Pages

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of his or its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete, and correct. DATE: December 2, 2024 CONVERIUM CAPITAL INC. By: /s/ Michael Rapps Name:Michael Rapps Title:Managing Partner /s/ Aaron Stern AARON STERN EREZ REIT OPPORTUNITIES LP By: EROF GP LLC By: /s/ Bruce Schanzer Name:Bruce Schanzer Title: Managing Member EREZ ASSET MANAGEMENT LLC By: /s/ Bruce Schanzer Name:Bruce Schanzer Title: Managing Member /s/ Bruce Schanzer BRUCE SCHANZER

View Full Filing

View this SC 13D/A filing on SEC EDGAR