Legion Partners Amends OneSpan Stake Filing
Ticker: OSPN · Form: SC 13D/A · Filed: May 17, 2024 · CIK: 1044777
| Field | Detail |
|---|---|
| Company | Onespan Inc. (OSPN) |
| Form Type | SC 13D/A |
| Filed Date | May 17, 2024 |
| Risk Level | medium |
| Pages | 6 |
| Reading Time | 7 min |
| Key Dollar Amounts | $0.001, $15, $15.00 |
| Sentiment | neutral |
Sentiment: neutral
Topics: sec-filing, 13d-amendment, activist-investor
Related Tickers: OSPN
TL;DR
Legion Partners updated their OneSpan filing on 5/17. Watch this space.
AI Summary
Legion Partners Asset Management, LLC has amended its Schedule 13D filing for OneSpan Inc. on May 17, 2024. The filing indicates a change in beneficial ownership of OneSpan Inc. common stock. Legion Partners is an investment management firm based in Los Angeles.
Why It Matters
This filing update from a significant shareholder like Legion Partners could signal changes in their investment strategy or influence on OneSpan's corporate governance.
Risk Assessment
Risk Level: medium — Changes in beneficial ownership filings can indicate activist investor activity or shifts in major holdings, which may impact stock price and corporate strategy.
Key Players & Entities
- Legion Partners Asset Management, LLC (company) — Filing entity
- OneSpan Inc. (company) — Subject company
- 0000921895-24-001269 (filing_id) — Accession number for the filing
- 20240517 (date) — Filing date
FAQ
What specific changes in beneficial ownership are detailed in this Amendment No. 10?
The filing is an amendment to a Schedule 13D, indicating a change in beneficial ownership, but the specific details of the change (e.g., number of shares, percentage) are not provided in the excerpt.
Who is the filing entity and what is their business?
The filing entity is Legion Partners Asset Management, LLC, an investment management firm located in Los Angeles, DE.
What is the subject company and its CUSIP number?
The subject company is OneSpan Inc., with CUSIP number 68287N100.
When was this amendment filed with the SEC?
This amendment (Amendment No. 10) was filed on May 17, 2024.
What is the business address of OneSpan Inc. as listed in the filing?
OneSpan Inc.'s business address is 1 Marina Park Drive, Unit 1410, Boston, MA 02210.
Filing Stats: 1,719 words · 7 min read · ~6 pages · Grade level 10.2 · Accepted 2024-05-17 16:11:14
Key Financial Figures
- $0.001 — Inc. (Name of Issuer) Common Stock, $0.001 par value per share (Title of Class o
- $15 — Shares, which have an exercise price of $15 per Share and expire on December 20, 20
- $15.00 — Short Sale of Dec 2024 Call Options ($15.00 Strike Price) 1 (460,300) 1.1041 05/
Filing Documents
- sc13da1009050026_05172024.htm (SC 13D/A) — 207KB
- 0000921895-24-001269.txt ( ) — 209KB
Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer .
is hereby amended
Item 6 is hereby amended to add the following: Legion Partners I has sold short in the over-the-counter market, additional American-style call options referencing an aggregate of 1,077,500 Shares, which have an exercise price of $15 per Share and expire on December 20, 2024, as set forth on Schedule A, which is incorporated herein by reference. Legion Partners II has sold short in the over-the-counter market, additional American-style call options referencing an aggregate of 92,900 Shares, which have an exercise price of $15 per Share and expire on December 20, 2024, as set forth on Schedule A, which is incorporated herein by reference. 9 CUSIP No. 68287N100
SIGNATURES
SIGNATURES After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: May 17, 2024 Legion Partners, L.P. I By: Legion Partners Asset Management, LLC Investment Advisor By: /s/ Christopher S. Kiper Name: Christopher S. Kiper Title: Managing Director Legion Partners, L.P. II By: Legion Partners Asset Management, LLC Investment Advisor By: /s/ Christopher S. Kiper Name: Christopher S. Kiper Title: Managing Director Legion Partners, LLC By: Legion Partners Holdings, LLC Managing Member By: /s/ Christopher S. Kiper Name: Christopher S. Kiper Title: Managing Member Legion Partners Asset Management, LLC By: /s/ Christopher S. Kiper Name: Christopher S. Kiper Title: Managing Director Legion Partners Holdings, LLC By: /s/ Christopher S. Kiper Name: Christopher S. Kiper Title: Managing Member 10 CUSIP No. 68287N100 /s/ Christopher S. Kiper Christopher S. Kiper /s/ Raymond T. White Raymond T. White 11 CUSIP No. 68287N100 SCHEDULE A Transactions in the Securities of the Issuer Since the Filing of Amendment No. 9 to the Schedule 13D Nature of the Transaction Amount of Securities Purchased/(Sold) Price ($) Date of Purchase/Sale LEGION PARTNERS, L.P. I Short Sale of Dec 2024 Call Options ($15.00 Strike Price) 1 (460,300) 1.1041 05/15/2024 Short Sale of Dec 2024 Call Options ($15.00 Strike Price) 1 (460,300) 1.1000 05/16/2024 Short Sale of Dec 2024 Call Options ($15.00 Strike Price) 1 (138,100) 1.2500 05/16/2024 Short Sale of Dec 2024 Call Options ($15.00 Strike Price) 1 (18,800) 1.5755 05/16/2024 LEGION PARTNERS, L.P. II Short Sale of Dec 2024 Call Options ($15.00 Strike Price) 1 (39,700) 1.1041 05/15/2024 Short Sale of Dec 2024 Call Options ($15.00 Strike Price) 1 (39,700) 1.1000 05/16/2024 Short Sale of Dec 2024 Call