GK Investor LLC Amends Genco Shipping Stake
Ticker: GNK · Form: SC 13D/A · Filed: May 24, 2024 · CIK: 1326200
| Field | Detail |
|---|---|
| Company | Genco Shipping & Trading LTD (GNK) |
| Form Type | SC 13D/A |
| Filed Date | May 24, 2024 |
| Risk Level | medium |
| Pages | 7 |
| Reading Time | 8 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: ownership-change, amendment, shipping
Related Tickers: GNK
TL;DR
GK Investor LLC updated their Genco Shipping stake filing, watch for potential moves.
AI Summary
On May 24, 2024, GK Investor LLC, through its group members George Economou, Maryport Navigation Corp., and Sphinx Investment Corp., filed an amendment to their Schedule 13D regarding Genco Shipping & Trading Limited. This filing indicates a change in beneficial ownership of Genco Shipping & Trading Limited's common shares.
Why It Matters
This filing signals a potential shift in the control or influence over Genco Shipping & Trading Limited, which could impact its stock price and strategic direction.
Risk Assessment
Risk Level: medium — Changes in beneficial ownership filings can precede significant corporate actions or shifts in stock price.
Key Players & Entities
- GK Investor LLC (company) — Filing entity
- Genco Shipping & Trading Limited (company) — Subject company
- George Economou (person) — Group member of GK Investor LLC
- Maryport Navigation Corp. (company) — Group member of GK Investor LLC
- Sphinx Investment Corp. (company) — Group member of GK Investor LLC
- Kleanthis Costa Spathias (person) — Contact person for filing
FAQ
What is the primary purpose of this SC 13D/A filing?
The filing is an amendment to Schedule 13D, indicating a change in beneficial ownership of Genco Shipping & Trading Limited's common shares by GK Investor LLC and its group members.
Who are the key entities involved in this filing?
The filing involves GK Investor LLC (the filer) and Genco Shipping & Trading Limited (the subject company), with George Economou, Maryport Navigation Corp., and Sphinx Investment Corp. listed as group members of GK Investor LLC.
When was this amendment filed?
This amendment was filed on May 24, 2024.
What is the business address of GK Investor LLC?
The business address for GK Investor LLC is C/O LEVANTE SERVICES LIMITED, LEOFOROS EVAGOROU 31, 2ND FL., OFFICE 21, NICOSIA, G4, 1066.
What is the CUSIP number for Genco Shipping & Trading Limited's common shares?
The CUSIP number for Genco Shipping & Trading Limited's common shares is Y2685T131.
Filing Stats: 2,022 words · 8 min read · ~7 pages · Grade level 8 · Accepted 2024-05-24 06:01:33
Key Financial Figures
- $0.01 — e of Issuer) Common Shares, par value $0.01 per share (Title of Class of Securiti
Filing Documents
- tm2415514d1_sc13da.htm (SC 13D/A) — 68KB
- tm2415514d1_ex99-2.htm (EX-99.2) — 33KB
- 0001104659-24-064852.txt ( ) — 103KB
of the Initial 13D is hereby amended and restated
Item 5 of the Initial 13D is hereby amended and restated as set forth below: “(a), (b)The Reporting Persons each may be deemed to beneficially own all of the 245,549 Common Shares (the “ Subject Shares ”) reported herein, which represent approximately 0.6% of Issuer’s outstanding Common Shares, based on the 42,751,752 Common Shares stated by Issuer as being outstanding as of March 28, 2024 in the Issuer’s 2024 Proxy Statement. GK Investor has the sole power to vote or direct the vote of 0 Common Shares; has the shared power to vote or direct the vote of 245,549 Common Shares; has the sole power to dispose or direct the disposition of 0 Common Shares; and has the shared power to dispose or direct the disposition of 245,549 Common Shares. Sphinx has the sole power to vote or direct the vote of 0 Common Shares; has the shared power to vote or direct the vote of 245,549 Common Shares; has the sole power to dispose or direct the disposition of 0 Common Shares; and has the shared power to dispose or direct the disposition of 245,549 Common Shares. Maryport has the sole power to vote or direct the vote of 0 Common Shares; has the shared power to vote or direct the vote of 245,549 Common Shares; has the sole power to dispose or direct the disposition of 0 Common Shares; and has the shared power to dispose or direct the disposition of 245,549 Common Shares. Mr. Economou has the sole power to vote or direct the vote of 0 Common Shares; has the shared power to vote or direct the vote of 245,549 Common Shares; has the sole power to dispose or direct the disposition of 0 Common Shares; and has the shared power to dispose or direct the disposition of 245,549 Common Shares. 6 As described in Amendment No. 4 to the Initial 13D, the Reporting Persons continued to be deemed to share beneficial ownership of Common Shares directly owned by GK Investor as of March 28, 2024, the record date for the Issuer’s 2024 Annual Meeting (the “ Reco
SIGNATURES
SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct. Date: May 24, 2024 GK Investor LLC By: Sphinx Investment Corp., its Manager By: /s/ K leanthis Costa Spathias Kleanthis Costa Spathias Director Date: May 24, 2024 SPHINX INVESTMENT CORP. By: Levante Services Limited By: /s/ K leanthis Costa Spathias Kleanthis Costa Spathias Director Date: May 24, 2024 MARYPORT NAVIGATION CORP. By: Levante Services Limited By: /s/ Kleanthis Costa Spathias Kleanthis Costa Spathias Director Date: May 24, 2024 GEORGE ECONOMOU By: /s/ George Economou George Economou