JS Capital Management Amends Ranpak Holdings Stake

TL;DR

JS Capital Management updated their Ranpak stake filing. Keep an eye on this.

AI Summary

JS Capital Management LLC, led by Jonathan Soros, has amended its Schedule 13D filing for Ranpak Holdings Corp. on September 13, 2024. The filing indicates a change in the beneficial ownership of Ranpak's Class A Common Stock. JS Capital Management LLC is based in New York, NY.

Why It Matters

This filing signals a potential shift in the ownership structure or investment strategy of Ranpak Holdings Corp., which could influence its stock performance and corporate governance.

Risk Assessment

Risk Level: medium — Schedule 13D filings often indicate significant investor activity, which can lead to increased volatility and potential strategic changes for the company.

Key Players & Entities

• JS Capital Management LLC (company) — Filer of the Schedule 13D/A
• Jonathan Soros (person) — Associated with JS Capital Management LLC
• Ranpak Holdings Corp. (company) — Subject company of the filing
• Elizabeth Locher (person) — Authorized to receive notices for JS Capital Management LLC

FAQ

Key Financial Figures

• $0.0001 — suer) Class A Common Stock, par value $0.0001 per share (Title of Class of Securiti
• $250 million — ity pursuant to which it may draw up to $250 million secured by a pledge of a portfolio of s

Filing Documents

• pack-sc13da_091124.htm (SC 13D/A) — 45KB
• 0001999371-24-011908.txt ( ) — 47KB

Purpose

Item 4. Purpose of Transaction.

of the Amended Schedule 13D is amended by

Item 4 of the Amended Schedule 13D is amended by adding the following paragraph: On September 11, 2024, JS Capital moved shares of the Class A Stock into a collateral account as further described in Item 6 below.

Interest in Securities

Item 5. Interest in Securities of the Issuer.

of the Amended Schedule 13D is amended and restated in its entirety, as follows

Item 5 of the Amended Schedule 13D is amended and restated in its entirety, as follows: The information set forth in Items 4 and 6 hereof, as amended from time to time, is incorporated in this Item 5 by reference, as applicable. (a) The aggregate number and percentage of shares of Class A Stock to which this Schedule 13D relates is 30,530,897 shares of Class A Stock, constituting approximately 38.0% of the Issuer’s outstanding shares of Class A Stock. The aggregate number and percentage of shares of Class A Stock reported herein are based upon 80,302,264 shares of Class A Stock outstanding as of July 22, 2024, as indicated by the Issuer in its Quarterly Report on Form 10-Q for the quarter ended June 30, 2024. (b) Each of JSCM and Mr. Soros, as managing member of JSCM, has sole voting and investment power with respect to all shares reported under this Schedule 13D. (c) The Reporting Persons have not engaged in any transaction during the past 60 days involving shares of common stock of the Issuer. (d) The members of JS Capital are entitled to receive, or have the power to direct receipt of, dividends from or the proceeds from the sale of the shares of Class A Stock held for the account of JS Capital. (e) Not applicable. CUSIP No. 75321W103 Schedule 13D/A Page 5 of 6

Contracts,

Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.

of the Amended Schedule 13D is amended and restated in its entirety,

Item 6 of the Amended Schedule 13D is amended and restated in its entirety, as follows: The information set forth in Items 4 and 5 hereof, as amended from time to time, is incorporated into this Item 6 by reference, as applicable. From time to time, JS Capital enters into loan facilities with certain bank lenders, which are secured by pledges of portfolios of securities held by JS Capital, including but not limited to shares of Class A Stock. Repayment under such facilities is due at term, however upon the occurrence of certain events, such payment obligations may be accelerated and the lender could take action with respect to any collateral. Currently, JS Capital is party to one such loan facility pursuant to which it may draw up to $250 million secured by a pledge of a portfolio of securities that includes 29,549,512 shares of Class A Stock. JS Capital may also pledge these or additional shares of Class A Stock to lenders under this or other similar facilities. The Reporting Persons are parties to an agreement with respect to the joint filing of this Schedule 13D and any amendments thereto. A copy of such agreement is attached to this Schedule 13D as Exhibit 1 and is incorporated by reference herein. Other than as set forth above and the agreements discussed in Items 4 and 5, the Reporting Persons have no contracts, arrangements, understandings or relationships with any persons with respect to securities of the Issuer. CUSIP No. 75321W103 Schedule 13D/A Page 6 of 6 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: September 12, 2024 JS CAPITAL MANAGEMENT LLC /s/ Elizabeth Locher By: Elizabeth Locher Title: Vice President /s/ Jonathan Soros Jonathan Soros

View Full Filing

View this SC 13D/A filing on SEC EDGAR