Rubric Capital Takes 16.5% Stake in Orthofix Medical

TL;DR

**Rubric Capital just revealed a 16.5% stake in Orthofix Medical, signaling a potential catalyst for the stock.**

AI Summary

Rubric Capital Management LP, an investment firm based in New York, has reported a significant stake in Orthofix Medical Inc. As of December 31, 2023, Rubric Capital beneficially owns 3,665,000 shares of Orthofix Medical's Common Stock, representing a 16.5% ownership stake. This substantial holding indicates Rubric Capital's strong conviction in Orthofix Medical's future, which could signal potential activist involvement or a belief in the company's undervalued status, potentially driving the stock price higher for current and prospective shareholders.

Why It Matters

A large institutional investor taking a significant stake often suggests they see untapped value, which could lead to strategic changes or increased investor confidence.

Risk Assessment

Risk Level: low — This filing generally indicates a positive development as a large investor has taken a significant position, suggesting confidence in the company.

Analyst Insight

A smart investor would research Rubric Capital Management LP's past investments and activist history to anticipate potential changes at Orthofix Medical Inc. and consider if this new institutional interest aligns with their investment thesis.

Key Numbers

• 3,665,000 shares — Shares Beneficially Owned (Represents Rubric Capital Management LP's shared voting and dispositive power in Orthofix Medical Inc.)
• 16.5% — Percentage of Class (The total percentage of Orthofix Medical Inc.'s Common Stock beneficially owned by Rubric Capital Management LP.)
• December 31, 2023 — Date of Event (The date on which the event requiring this filing occurred.)
• $0.10 — Par Value per Share (The par value of Orthofix Medical Inc.'s Common Stock.)

Key Players & Entities

• Rubric Capital Management LP (company) — the investment firm reporting the stake
• Orthofix Medical Inc. (company) — the subject company in which shares were acquired
• DAVID ROSEN (person) — listed as a group member
• State of Delaware (company) — place of organization for Rubric Capital Management LP

Forward-Looking Statements

• Rubric Capital Management LP may seek to influence Orthofix Medical Inc.'s corporate strategy or governance. (Orthofix Medical Inc.) — medium confidence, target: Within 12 months
• Orthofix Medical Inc.'s stock price could experience increased volatility due to the significant institutional ownership. (Orthofix Medical Inc.) — medium confidence, target: Within 6 months

FAQ

Key Financial Figures

• $0.10 — OF CLASS OF SECURITIES: Common stock, $0.10 par value per share (the " Common

Filing Documents

• tm245464d13_sc13g.htm (SC 13G) — 83KB
• 0001104659-24-013558.txt ( ) — 85KB

(a)

Item 1(a). NAME OF ISSUER: The name of the issuer is Orthofix Medical Inc. (the " Issuer ").

(b)

Item 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: The Issuer's principal executive offices are located at 3451 Plano Parkway, Lewisville, Texas 75056.

(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: 68752M108 CUSIP No. 68752M108 13G Page 5 of 8 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 percentage set forth in Row (11) of the cover page for each of the Reporting Persons is based on the 36,756,607 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 8, 2023. Item 5. Not applicable. Item 6. See Item 2. Rub

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 12, 2024 RUBRIC CAPITAL MANAGEMENT LP By: /s/ Michael Nachmani Name: Michael Nachmani Title: Chief Operating Officer /s/ David Rosen DAVID ROSEN CUSIP No. 68752M108 13G Page 8 of 8 Pages EXHIBIT 1 JOINT ACQUISITION STATEMENT PURSUANT TO RULE 13d-1(k) The undersigned acknowledge and agree that the foregoing statement on Schedule 13G is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13G shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate. DATED: February 12, 2024 RUBRIC CAPITAL MANAGEMENT LP By: /s/ Michael Nachmani Name: Michael Nachmani Title: Chief Operating Officer /s/ David Rosen DAVID ROSEN

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