Frischer Amends NextNav Stake Filing
Ticker: NXNVW · Form: SC 13D/A · Filed: Mar 20, 2024 · CIK: 1865631
| Field | Detail |
|---|---|
| Company | Nextnav INC. (NXNVW) |
| Form Type | SC 13D/A |
| Filed Date | Mar 20, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.0001, $5,997,758, $2.16, $11.50, $3 |
| Sentiment | neutral |
Sentiment: neutral
Topics: ownership-change, sec-filing, schedule-13d
Related Tickers: NN
TL;DR
Frischer updated his NextNav filing, might be buying/selling.
AI Summary
Charles L. Frischer filed an amendment to his Schedule 13D on March 20, 2024, regarding his beneficial ownership of NextNav Inc. The filing indicates a change in the reporting person's holdings, though specific details on the nature of the change or the exact number of shares are not provided in this excerpt. Frischer previously held a significant stake in the company, which was formerly known as Spartacus Acquisition Shelf Corp. before changing its name on June 3, 2021.
Why It Matters
This amendment signals a potential shift in a significant shareholder's position in NextNav Inc., which could influence the stock's trading dynamics.
Risk Assessment
Risk Level: medium — Amendments to Schedule 13D filings often indicate changes in beneficial ownership by significant shareholders, which can impact stock price and require further investigation.
Key Players & Entities
- Charles L. Frischer (person) — Reporting Person
- NextNav Inc. (company) — Subject Company
- Spartacus Acquisition Shelf Corp. (company) — Former Company Name
FAQ
What specific change in beneficial ownership is reported in this amendment?
The filing is an amendment (No. 1) to Schedule 13D, indicating a change in the reporting person's holdings, but the specific details of the change are not elaborated in the provided text.
Who is the reporting person for this filing?
The reporting person is Charles L. Frischer.
What is the subject company?
The subject company is NextNav Inc.
When was the event requiring this filing?
The date of the event which requires filing of this statement is March 15, 2024.
What was NextNav Inc. formerly known as?
NextNav Inc. was formerly known as Spartacus Acquisition Shelf Corp.
Filing Stats: 1,076 words · 4 min read · ~4 pages · Grade level 5.8 · Accepted 2024-03-20 17:12:57
Key Financial Figures
- $0.0001 — INC. (Name of Issuer) Common Stock, $0.0001 par value per share (Title of Class o
- $5,997,758 — 2024 for an aggregate purchase price of $5,997,758. Mr. Frischer used his personal funds a
- $2.16 — ts exercisable for Shares at a price of $2.16 per share, warrants exercisable for Sha
- $11.50 — ts exercisable for Shares at a price of $11.50 per share, and options exercisable for
- $3 — ons exercisable for Shares at prices of $3.00, $4,00, $5.00, $7.00 and $10.00 per
- $4,00 — rcisable for Shares at prices of $3.00, $4,00, $5.00, $7.00 and $10.00 per Share. Acc
- $5 — e for Shares at prices of $3.00, $4,00, $5.00, $7.00 and $10.00 per Share. Accordi
- $7.00 — hares at prices of $3.00, $4,00, $5.00, $7.00 and $10.00 per Share. Accordingly, assu
- $10.00 — rices of $3.00, $4,00, $5.00, $7.00 and $10.00 per Share. Accordingly, assuming exerci
- $4.00 — Exercise of option with strike price of $4.00 per Share.
Filing Documents
- e619399_sc13da-nextnav.htm (SC 13D/A) — 49KB
- 0001193805-24-000417.txt ( ) — 51KB
Source and Amount of Funds of Other Consideration
Item 3.Source and Amount of Funds of Other Consideration.
is
Item 3 is amended by adding the following: Charles Frischer purchased 1,694,622 Shares in the aggregate from March 5, 2024 through March 15, 2024 for an aggregate purchase price of $5,997,758. Mr. Frischer used his personal funds and funds in his IRA to acquire these Shares.
Interest of Securities of the Issuer
Item 5.Interest of Securities of the Issuer.
is amended by adding the following
Item 5 is amended by adding the following: (a) and (b) Beneficial As of the date of this Amendment No. 1 to Schedule 13D, Mr. Frischer directly or through his IRA owns 7,547,183 Shares, which includes warrants exercisable for Shares at a price of $2.16 per share, warrants exercisable for Shares at a price of $11.50 per share, and options exercisable for Shares at prices of $3.00, $4,00, $5.00, $7.00 and $10.00 per Share. Accordingly, assuming exercise of all warrants and options, Mr. Frischer owns 7,547,183 Shares representing approximately 6.8% of the total outstanding Shares. The percentages set forth above and on the cover page hereto represent the percentage of the outstanding Shares based on a total of 111,189,983 Shares outstanding as of March 8, 2024, which amount is derived from amount reported in the Issuer’s Quarterly Report on Form 10-Q for the period ended December 31, 2023. (c) Transactions during the past sixty days Information with respect to the Reporting Person’s transactions effected during the past 60 days are set forth on Annex A hereto. (d) Right to receive dividends or proceeds Not applicable. (e) Beneficial Not applicable. CUSIP No. 65345N106 13D Page 4 of 6 Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Pursuant to Rule 13d-1(k), this Schedule 13D is filed on behalf of the Reporting Person. Dated as of: March 20, 2024 /s/ Charles Frischer Charles Frischer Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001). CUSIP No. 65345N106 13D Page 5 of 6 ANNEX A Schedule of Transactions in Common Shares of the Issuer During the Past 60 Days Date of Transaction Quantity Purchased Price per Share 3/18/24 3/18/24 3/15/24 3/14/24 3/13/24 3/12/24 3/11/24 3/8/24 200 46,9