Axonic Capital LLC Adjusts Stake in Power REIT
Ticker: PW-PA · Form: SC 13D · Filed: Jul 25, 2024 · CIK: 1532619
| Field | Detail |
|---|---|
| Company | Power Reit (PW-PA) |
| Form Type | SC 13D |
| Filed Date | Jul 25, 2024 |
| Risk Level | medium |
| Pages | 9 |
| Reading Time | 10 min |
| Key Dollar Amounts | $0.001, $163,309, $25.00 |
| Sentiment | neutral |
Sentiment: neutral
Topics: ownership-change, sec-filing, activist-investor
Related Tickers: PW
TL;DR
**Axonic Capital LLC just filed a 13D on Power REIT. Big ownership change incoming.**
AI Summary
Axonic Capital LLC, through its filing on July 25, 2024, has reported a change in its beneficial ownership of Power REIT. The filing indicates a shift in control or a significant stake acquisition, requiring disclosure under SEC regulations. The specific details of the transaction, including the exact percentage of shares held and the dollar amount involved, are detailed within the full filing.
Why It Matters
This filing signals a potential shift in the ownership structure of Power REIT, which could influence the company's strategic direction and shareholder value.
Risk Assessment
Risk Level: medium — Schedule 13D filings often indicate significant changes in beneficial ownership, which can lead to increased volatility and strategic shifts for the company.
Key Players & Entities
- Axonic Capital LLC (company) — Filing entity
- Power REIT (company) — Subject company
- Jess Saypoff (person) — Authorized contact for Axonic Capital LLC
FAQ
What is the primary purpose of this Schedule 13D filing by Axonic Capital LLC?
The filing is to report a change in beneficial ownership of more than 5% of the outstanding shares of Power REIT, as required by SEC regulations.
When did the event requiring this filing occur?
The date of the event which requires filing of this statement is July 23, 2024.
What is the CUSIP number for Power REIT's common shares?
The CUSIP number for Power REIT's Common Shares is 73933H101.
Who is listed as the authorized person to receive notices for Axonic Capital LLC regarding this filing?
Jess Saypoff of Axonic Capital LLC is listed as the person authorized to receive notices and communications.
What is the business address of Axonic Capital LLC?
The business address of Axonic Capital LLC is 520 Madison Avenue, 42nd Floor, New York, New York 10022.
Filing Stats: 2,607 words · 10 min read · ~9 pages · Grade level 11.4 · Accepted 2024-07-25 15:20:05
Key Financial Figures
- $0.001 — EIT (Name of Issuer) Common Shares, $0.001 par value per share (Title of Class o
- $163,309 — the Reporting Persons is approximately $163,309.77, excluding brokerage commissions. Th
- $25.00 — Preferred Stock Liquidation Preference $25.00 per Share (the “Series A Preferre
Filing Documents
- ea0209954-13daxonic_power.htm (SC 13D) — 104KB
- ea020995401ex99-1_power.htm (EX-99.1) — 7KB
- 0001013762-24-001094.txt ( ) — 113KB
SIGNATURES
SIGNATURES 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. Date: July 24, 2024 Axonic Capital LLC By: /s/ Clayton DeGiacinto Name: Clayton DeGiacinto Title: Authorized Signatory By: /s/ Clayton DeGiacinto Name: Clayton DeGiacinto In his capacity as managing member of Axonic Capital LLC 6 SCHEDULE A TRANSACTIONS IN THE ISSUER’S SECURITIES DURING THE LAST 60 DAYS Nature of the Transaction Securities Purchased* Price Per Share** Date of Transaction Trading Range of Transactions (inclusive) Purchase of Common Shares 552 $ 0.9999 6/3/2024 $ 0.9995 - $ 0.9999 Purchase of Common Shares 2,322 $ 0.9000 6/5/2024 $ 0.9000 - $ 0.9000 Purchase of Common Shares 22,126 $ 0.8992 6/6/2024 $ 0.8679 - $ 0.9000 Purchase of Common Shares 15,000 $ 0.8655 6/7/2024 $ 0.8190 - $ 0.9000 Purchase of Common Shares 10,434 $ 0.8697 6/10/2024 $ 0.8215 - $ 0.8900 Purchase of Common Shares 95 $ 0.8500 6/11/2024 $ 0.8500 - $ 0.8500 Purchase of Common Shares 4,099 $ 0.8490 6/12/2024 $ 0.8401 - $ 0.8500 Purchase of Common Shares 5,908 $ 0.8340 6/13/2024 $ 0.7450 - $ 0.8500 Purchase of Common Shares 5,000 $ 0.7300 6/14/2024 $ 0.7300 - $ 0.7300 Purchase of Common Shares 16,097 $ 0.7891 6/18/2024 $ 0.7669 - $ 0.8000 Purchase of Common Shares 6,504 $ 0.7855 6/20/2024 $ 0.7660 - $ 0.8000 Purchase of Common Shares 11,863 $ 0.9308 6/21/2024 $ 0.8377 - $ 0.9500 Purchase of Common Shares 1,368 $ 0.8500 6/24/2024 $ 0.8500 - $ 0.8500 Purchase of Common Shares 3,928 $ 0.8541 6/26/2024 $ 0.8500 - $ 0.8700 Purchase of Common Shares 6,422 $ 0.8347 6/27/2024 $ 0.7651 - $ 0.8500 Purchase of Common Shares 2,159 $ 0.8490 6/28/2024 $ 0.8378 - $ 0.8500 Purchase of Common Shares 5,000 $ 0.9390 7/1/2024 $ 0.9116 - $ 0.9500 Purchase of