Irenic Capital Management Files 13D/A for Reservoir Media

TL;DR

Irenic Capital Management updated their stake in Reservoir Media, Inc. on 9/30/24.

AI Summary

Irenic Capital Management LP has filed Amendment No. 3 to its Schedule 13D regarding Reservoir Media, Inc. The filing, dated September 30, 2024, indicates a change in the reporting of beneficial ownership. Irenic Capital Management LP is based at 767 Fifth Avenue, New York, NY.

Why It Matters

This filing updates the market on significant changes in beneficial ownership for Reservoir Media, Inc., which could signal shifts in investor strategy or control.

Risk Assessment

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

Key Numbers

• 0001824403 — Central Index Key (Identifier for Reservoir Media, Inc.)
• 0001929389 — Central Index Key (Identifier for Irenic Capital Management LP)
• 20240930 — Filing Date (Date of Amendment No. 3 filing)

Key Players & Entities

• Irenic Capital Management LP (company) — Filing entity
• Reservoir Media, Inc. (company) — Subject company
• Andrew Freedman (person) — Associated legal counsel
• Olshan Frome Wolosky LLP (company) — Associated legal counsel

FAQ

Key Financial Figures

• $0.0001 — Inc. (Name of Issuer) Common Stock, $0.0001 par value per share (Title of Class o
• $34,658,645 — y the Reporting Person is approximately $34,658,645, excluding brokerage commissions. Item

Filing Documents

• sc13da313534006_09302024.htm (SC 13D/A) — 51KB
• 0001193805-24-001188.txt ( ) — 52KB

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration .

is hereby amended

Item 3 is hereby amended and restated to read as follows: The Shares purchased by the Reporting Person were purchased with working capital (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business). The aggregate purchase price of the 5,299,066 Shares beneficially owned by the Reporting Person is approximately $34,658,645, excluding brokerage commissions.

Purpose of Transaction

Item 4. Purpose of Transaction .

is hereby amended

Item 4 is hereby amended to add the following: The Reporting Person believes the securities of the Issuer are substantially undervalued. The Reporting Person encourages the Issuer to undertake a full strategic review of all alternatives to maximize shareholder value and to form a special committee of the Board to oversee such review process. The Reporting Person may consider, explore and/or develop plans and/or make proposals (whether preliminary or final) with respect to, among other things, the matters set forth in the previous paragraph.

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer . Items 5(a) and (c) are hereby amended and restated to read as follows: (a) See rows (11) and (13) of the cover page to this Amendment No. 3 for the aggregate number of Shares and percentage of Shares beneficially owned by the Reporting Person. The aggregate percentage of Shares reported beneficially owned by the Reporting Person is based upon 65,078,938 Shares outstanding as of July 26, 2024, which is the total number of Shares outstanding as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on July 31, 2024. As of the date hereof, the Reporting Person beneficially owned 5,299,066 Shares, constituting approximately 8.1% of the Shares outstanding. (c) The transactions in the Shares effected by the Reporting Person during the past sixty (60) days, which were all in the open market, are set forth on Schedule A attached hereto. 3 CUSIP No. 76119X105

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of his knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: September 30, 2024 Irenic Capital Management LP By: Irenic Capital Management GP LLC, its general partner By: /s/ Adam Katz Name: Adam Katz Title: Managing Member 4 CUSIP No. 76119X105 SCHEDULE A Transactions in Securities of the Issuer During the Past 60 Days Nature of the Transaction Securities Purchased Price Per Security ($) Date of Purchase IRENIC CAPITAL MANAGEMENT LP Purchase of Common Stock 8,632 7.1562 08/05/2024 Purchase of Common Stock 7,628 7.1385 08/07/2024 Purchase of Common Stock 4,800 7.0585 08/09/2024 Purchase of Common Stock 3,816 7.1480 08/13/2024 Purchase of Common Stock 4,606 7.1854 08/14/2024 Purchase of Common Stock 26,687 7.3470 08/16/2024 Purchase of Common Stock 200 7.3350 08/19/2024 Purchase of Common Stock 247 7.3480 08/20/2024 Purchase of Common Stock 4 7.3500 08/21/2024 Purchase of Common Stock 1,478 7.4008 09/04/2024 Purchase of Common Stock 4,001 7.4140 09/09/2024 Purchase of Common Stock 1,516 7.3964 09/11/2024 Purchase of Common Stock 187 7.4550 09/12/2024 Purchase of Common Stock 19,711 7.4603 09/23/2024

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View this SC 13D/A filing on SEC EDGAR