Jonathan Honig Holds 9.99% Stake in GIGAMEDIA Ltd

TL;DR

**Jonathan Honig still owns 9.99% of GIGAMEDIA Ltd as of Dec 31, 2023.**

AI Summary

Jonathan Honig, a U.S. citizen, has updated his beneficial ownership in GIGAMEDIA Ltd, reporting an aggregate of 1,105,145 shares, representing 9.99% of the company's common stock as of December 31, 2023. This Amendment No. 10 to Schedule 13G indicates a significant, but not controlling, stake, with Honig holding both sole and shared voting and dispositive power over these shares, including those held for his children and through entities like Titan Multi-Strategy Fund, Inc. This matters to investors as it shows a notable individual investor's continued, albeit slightly adjusted, confidence in GIGAMEDIA Ltd, potentially signaling stability or a long-term view from a substantial shareholder.

Why It Matters

This filing shows a significant individual investor, Jonathan Honig, maintains a substantial stake in GIGAMEDIA Ltd, which can influence investor sentiment and potentially provide a degree of stability to the stock.

Risk Assessment

Risk Level: low — This filing is an update to an existing passive stake, indicating no immediate change in control or aggressive activist intent, thus posing low risk.

Analyst Insight

Investors should note that a substantial individual investor maintains a significant, passive stake, which could be a sign of long-term confidence, but this filing alone doesn't suggest any immediate catalysts or changes in company direction.

Key Numbers

• 1,105,145 — Aggregate Shares Beneficially Owned (Total shares Jonathan Honig owns in GIGAMEDIA Ltd as of December 31, 2023.)
• 9.99% — Percent of Class (Percentage of GIGAMEDIA Ltd's common stock owned by Jonathan Honig, based on 11,052,235 shares outstanding.)
• 610,820 — Sole Voting Power Shares (Shares over which Jonathan Honig has sole voting power.)
• 368,425 — Shared Voting Power Shares (Shares over which Jonathan Honig has shared voting power.)
• 494,325 — Shared Dispositive Power Shares (Shares over which Jonathan Honig has shared dispositive power.)
• 11,052,235 — Shares Outstanding (Total shares of GIGAMEDIA Ltd common stock outstanding as of December 31, 2023, used to calculate percentage ownership.)

Key Players & Entities

• Jonathan Honig (person) — reporting person and beneficial owner of GIGAMEDIA Ltd shares
• GIGAMEDIA Ltd (company) — the issuer of the common stock
• Titan Multi-Strategy Fund, Inc. (company) — entity through which Jonathan Honig holds shares
• Titan Multi-Strategy Fund, Inc. Profit Sharing Plan (company) — entity through which Jonathan Honig holds shares
• Morgan Honig (person) — beneficiary of shares held by Jonathan Honig as UTMA custodian
• Skylar Honig (person) — beneficiary of shares held by Jonathan Honig as UTMA custodian
• Jett Honig (person) — beneficiary of shares held by Jonathan Honig as UTMA custodian

Forward-Looking Statements

• Jonathan Honig will maintain a significant, passive stake in GIGAMEDIA Ltd. (Jonathan Honig) — high confidence, target: December 31, 2024

FAQ

Filing Documents

• formsc13ga.htm (SC 13G/A) — 86KB
• 0001493152-24-003405.txt ( ) — 88KB

(a)

Item 1(a). Name of Issuer: GigaMedia Limited (“Issuer”)

(b)

Item 1(b). Address of Issuer’s Principal Executive Offices: 8F. No. 22, Land 407, Sec. 2, Tiding Boulevard, Taipei 114, Taiwan

(a)

Item 2(a). Name of Person Filing. The statement is filed on behalf of Jonathan Honig, Titan Multi-Strategy Fund, Inc., Titan Multi-Strategy Fund, Inc. Profit Sharing Plan, Titan Multi-Strategy Fund 401k Roth FBO Jonathan Honig and Titan Multi-Strategy Fund 401k Roth FBO Elizabeth Honig and Titan Multi-Strategy Fund I, Ltd. (collectively, the “Reporting Person”).

(b)

Item 2(b). Address of Principal Business Office or, if None, Residence. 5825 Windsor Court, Boca Raton, Fl 33496

(c)

Item 2(c). Citizenship. Jonathan Honig is a citizen of the United States. Both Titan Multi-Strategy Fund, Inc. (“Titan”) and Titan Multi-Strategy Fund, Inc. Profit Sharing Plan (the “Plan”) are incorporated in the State of Florida. Both Titan Multi-Strategy Fund 401k Roth FBO Jonathan Honig and Titan Multi-Strategy Fund 401k Roth FBO Elizabeth Honig are organized in the State of Florida. Titan Multi-Strategy Fund I, Ltd. is a limited partnership organized in the State of Florida.

(d)

Item 2(d). Title of Class of Securities. Common Stock, no par value.

(e)

Item 2(e). CUSIP Number. Y2711Y112 Item 3. Type of Person Not applicable. Item 4. (a) Amount beneficially owned: 1,105,145 (1)(2)(3) (b) Percent of class: 9.99% (based on 11,052,235 shares outstanding as of December 31, 2023) (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 610,820(1) (ii) Shared power to vote or to direct the vote:368,425(2) (iii) Sole power to dispose or to direct the disposition of: 610,820(1) (iv) Shared power to dispose or to direct the disposition of: 494,325(2)(3) (1) Includes (i) 5,145 shares held by Mr. Jonathan Honig (“Mr. Honig”) as UTMA custodian for Morgan Honig, (ii) 5,400 shares held by Mr. Honig as UTMA custodian for Skylar Honig and (iii) 6,800 shares held by Mr. Honig as UTMA custodian for Jett Honig. (2) Includes (i) 22,000 shares held by Titan Multi-Strategy Fund, Inc. (“Titan”) (ii) 187,000 shares held by Titan Multi-Strategy Fund, Inc. Profit Sharing Plan (the “Plan”); (iii) 17,225 shares held by Titan Multi-Strategy Fund 401k Roth FBO Jonathan Honig; (iv) 11,700 shares held by Titan Multi-Strategy Fund 401k Roth FBO Elizabeth Honig; and (v) 130,500 held by Titan Multi-Strategy Fund I, Ltd (“TMSFL”). Mr. Honig is the President of Titan Multi-Strategy Fund, Inc., which is the General Partner of TMSFL, and Mr. Honig is trustee of the Plans, and in such capacities has voting and dispositive power over the securities held by such entities. (3) Includes (i) 5,400 shares held by Elizabeth Honig, (ii) 80,000 shares held by Elizabeth Honig Lifetime Trust, (iii) 1,200 shares held by Elizabeth Honig IRA TD Ameritrade Clearing, Custodian, (iv) 13,500 shares held by Elizabeth Honig as UTMA custodian for Jett Honig (v) 13,000 shares held by Elizabeth Honig as UTMA Custodian for Skylar Honig and (vi) 12,800 shares held by Elizabeth Honig UTMA Custodian for Morgan Honig. Elizabeth Honig and Mr. Honig are married, and

View Full Filing

View this SC 13G/A filing on SEC EDGAR