Rubric Capital Management LP Maintains Significant Stake in Mativ Holdings
Ticker: MATV · Form: SC 13G/A · Filed: Feb 12, 2024 · CIK: 1000623
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investing
TL;DR
**Rubric Capital Management LP still holds a big chunk of Mativ Holdings, signaling continued institutional confidence.**
AI Summary
Rubric Capital Management LP, a Delaware-based investment firm, filed an amended SC 13G/A on February 12, 2024, indicating its beneficial ownership of Mativ Holdings, Inc. (NYSE: MATV) common stock as of December 31, 2023. This filing updates their previous disclosure, confirming their continued significant stake in Mativ Holdings. For investors, this matters because Rubric Capital Management LP is a substantial institutional holder, and their continued ownership signals confidence in Mativ Holdings' future prospects, potentially influencing other investors' perceptions.
Why It Matters
This filing confirms a major institutional investor's continued confidence in Mativ Holdings, which can be a positive signal for current and prospective shareholders. Their sustained position suggests they see value in the company.
Risk Assessment
Risk Level: low — This filing is an update on an existing position, not a new acquisition or disposal, indicating stability rather than a significant change in risk.
Analyst Insight
Investors should note that a significant institutional holder like Rubric Capital Management LP is maintaining its position, which could be interpreted as a vote of confidence. However, this filing doesn't provide details on the exact number of shares or percentage owned, so further investigation into their specific holdings would be beneficial.
Key Numbers
- 808541106 — CUSIP Number (identifies Mativ Holdings, Inc. common stock)
- 005-48407 — SEC File Number (identifies Mativ Holdings, Inc. with the SEC)
- December 31, 2023 — Date of Event (the date for which the ownership information is reported)
Key Players & Entities
- Rubric Capital Management LP (company) — the investment firm filing the SC 13G/A
- Mativ Holdings, Inc. (company) — the subject company whose shares are being reported
- DAVID ROSEN (person) — listed as a group member
- Delaware (company) — state of organization for Rubric Capital Management LP
Forward-Looking Statements
- Rubric Capital Management LP will maintain a significant stake in Mativ Holdings, Inc. through the next quarter. (Rubric Capital Management LP) — medium confidence, target: March 31, 2024
FAQ
What is the purpose of this SC 13G/A filing?
This SC 13G/A filing is an amendment (Amendment No. 1) to a previous Schedule 13G, indicating an update to the beneficial ownership information of Mativ Holdings, Inc. common stock by Rubric Capital Management LP as of December 31, 2023.
Who is the reporting person in this filing?
The reporting person in this filing is Rubric Capital Management LP, an investment adviser organized in the State of Delaware, with a business address at 155 East 44th St, Suite 1630, New York, NY 10017.
What is the subject company of this filing?
The subject company is Mativ Holdings, Inc., with a CUSIP Number of 808541106 for its Common Stock, $0.10 par value per share. Its business address is 100 North Point Center East, Suite 600, Alpharetta, GA 30022-8246.
What was the date of the event that required this filing?
The date of the event which required the filing of this statement was December 31, 2023, as stated on the cover page of the Schedule 13G/A.
Under which rule was this Schedule 13G filed?
This Schedule 13G/A was filed under Rule 13d-1(b) of the Securities Exchange Act of 1934, as indicated by the checked box on Page 1 of 7 Pages.
Filing Stats: 1,387 words · 6 min read · ~5 pages · Grade level 10.6 · Accepted 2024-02-12 06:06:38
Key Financial Figures
- $0.10 — OF CLASS OF SECURITIES: Common stock, $0.10 par value per share (the " Common
Filing Documents
- tm245464d23_sc13ga.htm (SC 13G/A) — 71KB
- 0001104659-24-013568.txt ( ) — 73KB
(a)
Item 1(a). NAME OF ISSUER: The name of the issuer is Mativ Holdings, Inc. (the " Issuer ").
(b)
Item 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: The Issuer's principal executive offices are located at 100 Kimball Place, , Suite 600, Alpharetta, GA, 30009.
(a)
Item 2(a). NAME OF PERSON FILING: This statement is filed by: (i) Rubric Capital Management LP (" Rubric Capital "), the investment adviser to certain investment funds and/or accounts (collectively, the " Rubric Funds ") that hold the shares of Common Stock (as defined in Item 2(d) below) reported herein; and (ii) David Rosen (" Mr. Rosen "), Managing Member of Rubric Capital Management GP LLC, the general partner of Rubric Capital. The foregoing persons are hereinafter sometimes collectively referred to as the " Reporting Persons ." The filing of this statement should not be construed as an admission that any of the forgoing persons or any Reporting Person is, for the purposes of Section 13 of the Act, the beneficial owner of the Shares reported herein.
(b)
Item 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE: The address of the principal business office of each of the Reporting Persons is 155 East 44th St, Suite 1630, New York, NY 10017.
(c)
Item 2(c). CITIZENSHIP: Rubric Capital is a Delaware limited partnership. Mr. Rosen is a citizen of the United States of America.
(d)
Item 2(d). TITLE OF CLASS OF SECURITIES: Common stock, $0.10 par value per share (the " Common Stock ").
(e)
Item 2(e). CUSIP NUMBER: 808541106 CUSIP No. 808541106 13G/A Page 5 of 7 Pages Item 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13d-1(b) OR 13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A: (a) ¨ Broker or dealer registered under Section 15 of the Act, (b) ¨ Bank as defined in Section 3(a)(6) of the Act, (c) ¨ Insurance Company as defined in Section 3(a)(19) of the Act, (d) ¨ Investment Company registered under Section 8 of the Investment Company Act of 1940, (e) An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); (f) ¨ Employee Benefit Plan or Endowment Fund in accordance with Rule 13d-1(b)(1)(ii)(F), (g) Parent Holding Company or control person in accordance with Rule 13d-1(b)(1)(ii)(G), (h) ¨ Savings Association as defined in Section 3(b) of the Federal Deposit Insurance Act, (i) ¨ A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act; (j) ¨ A non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J); (k) ¨ Group, in accordance with Rule 13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J), please specify the type of institution: _______________________________________________ Item 4. The information required by Items 4(a) - (c) is set forth in Rows 5 - 11 of the cover page for each of the Reporting Persons and is incorporated herein by reference. The percentages set forth in Row (11) and in the footnote of the cover page for each of the Reporting Persons is based on the 54,200,680 shares of Common Stock outstanding as of November 6, 2023, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2023 filed with the Securities and Exchange Commission on November 9, 2023. Item 5. Not applicable. Item 6.
SIGNATURES
SIGNATURES After reasonable inquiry and to the best of our knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. DATED: February 6, 2024 RUBRIC CAPITAL MANAGEMENT LP By: /s/ Michael Nachmani Name: Michael Nachmani Title: Chief Operating Officer /s/ David Rosen DAVID ROSEN