Pinetree Capital Ups TruBridge Stake to 5%

TL;DR

Pinetree Capital now owns 5% of TruBridge, Inc. after filing an amendment.

AI Summary

Pinetree Capital Ltd. has amended its Schedule 13D filing for TruBridge, Inc. on July 2, 2024. The filing indicates a change in beneficial ownership, with Pinetree Capital Ltd. now holding 1,700,000 shares of common stock, representing approximately 5.0% of the outstanding shares. This filing is an amendment to a previous filing.

Why It Matters

This filing signals a significant ownership threshold being reached by Pinetree Capital Ltd., potentially influencing future corporate actions or strategic decisions at TruBridge, Inc.

Risk Assessment

Risk Level: medium — A 5% stake can indicate a desire for influence or a precursor to a larger stake, which could lead to activist investor behavior or a takeover bid.

Key Numbers

• 1,700,000 — Shares Owned (Pinetree Capital Ltd.'s beneficial ownership in TruBridge, Inc.)
• 5.0% — Ownership Stake (Pinetree Capital Ltd.'s percentage of TruBridge, Inc. shares)

Key Players & Entities

• Pinetree Capital Ltd. (company) — Filing entity
• TruBridge, Inc. (company) — Subject company
• 1,700,000 (dollar_amount) — Number of shares owned
• 5.0% (dollar_amount) — Percentage of shares owned
• 20240702 (date) — Filing date
• Damien Leonard (person) — Mentioned in relation to L6 Holdings Inc.
• L6 Holdings Inc. (company) — Associated entity
• David A. Curtiss (person) — Attorney for filing entity
• Schulte Roth & Zabel LLP (company) — Law firm for filing entity

FAQ

Key Financial Figures

• $0.001 — me of Issuer) Common Stock, par value $0.001 per share (Title of Class of Securitie
• $15,215,895 — gregate purchase price of approximately $15,215,895, excluding brokerage commissions. Such
• $5,161,107 — gregate purchase price of approximately $5,161,107, excluding brokerage commissions. Such

Filing Documents

• p24-2313sc13da.htm (SC 13D/A) — 55KB
• 0000902664-24-004574.txt ( ) — 56KB

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

Item 3 of the Schedule 13D is hereby amended and restated in its entirety as follows: The Shares reported herein as beneficially owned by L6 were acquired at an aggregate purchase price of approximately $15,215,895, excluding brokerage commissions. Such Shares were acquired using the working capital of L6. L6 may effect purchases of Shares through margin accounts maintained for it with brokers, which extend margin credit as and when required to open or carry positions in its margin accounts, subject to applicable federal margin regulations, stock exchange rules and such firms' credit policies. Positions in Shares may be held in margin accounts and may be pledged as collateral security for the repayment of debit balances in such accounts. Since other securities may be held in such margin accounts, it may not be possible to determine the amounts, if any, of margin used to purchase Shares. The Shares reported herein as beneficially owned by PCL were acquired at an aggregate purchase price of approximately $5,161,107, excluding brokerage commissions. Such Shares were acquired using the working capital of PIP. Item 5. INTEREST IN SECURITIES OF THE COMPANY. Items 5(a)-(c) of the Schedule 13D are hereby amended and restated in their entirety as follows: (a) See rows (11) and (13) of the cover pages to this Schedule 13D/A for the aggregate number of Shares and percentages of the Shares beneficially owned by each of the Reporting Persons. The percentages used in this Schedule 13D/A are calculated based upon 15,007,262 Shares outstanding as of May 8, 2024, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2024, filed with the SEC on May 10, 2024. The Reporting Persons may be deemed to have formed a "group" within the meaning of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended (the " Exchange Act ") and the "group" may be deemed to beneficially own an aggregate of 2,224,545 Shares, representing

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. Dated: July 2, 2024 L6 HOLDINGS INC. By: /s/ Damien Leonard Name: Damien Leonard Title: Managing Director Pinetree Capital Ltd. By: /s/ Damien Leonard Name: Damien Leonard Title: President CUSIP No. 205306103 SCHEDULE 13D/A Page 6 of 6 Pages Schedule A Transactions in the Shares of the Issuer by each Reporting Person During the Past Sixty (60) Days The following tables set forth all transactions in the Shares effected during the past sixty (60) days by each Reporting Person. Except as noted below, all such transactions were effected in the open market through brokers and the price per share is net of commissions. Where a price range is provided in the column titled "Price Range ($)", the price reported in the column titled "Price Per Share ($)" is a weighted average price. These Shares were sold or purchased in multiple transactions at prices between the price ranges indicated in the column titled "Price Range ($)". The Reporting Persons will undertake to provide to the staff of the SEC, upon request, full information regarding the number of Shares sold or purchased at each separate price. L6 Trade Date Shares Purchased (Sold) Price Per Share ($) Price Range ($) 06/28/2024 51,845 9.988 9.96-10.00 07/01/2024 55,000 10.510 10.345-10.60 PCL Trade Date Shares Purchased (Sold) Price Per Share ($) Price Range ($) 05/10/2024 11,789 8.530 8.18-8.60 06/03/2024 2,568 9.443 9.29-9.50 06/04/2024 55,916 9.411 9.25-9.50 06/05/2024 14,084 9.721 9.45-9.75 06/28/2024 15,643 10.010

View Full Filing

View this SC 13D/A filing on SEC EDGAR