Pinetree Capital Ltd. Amends TruBridge Stake Filing

TL;DR

Pinetree Capital updated their TruBridge filing. Watch for more.

AI Summary

Pinetree Capital Ltd. has filed an amendment (No. 3) to its Schedule 13D for TruBridge, Inc., indicating a change in its beneficial ownership. The filing, dated November 5, 2024, does not specify the exact percentage or number of shares now held but signifies an update to their previous filing. TruBridge, Inc. was formerly known as Computer Programs & Systems Inc. before a name change on March 19, 2002.

Why It Matters

This amendment signals a potential shift in the ownership structure or strategy of TruBridge, Inc., which could impact its stock performance and corporate direction.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D filings often indicate changes in significant shareholder positions, which can lead to increased volatility or strategic shifts.

Key Players & Entities

• Pinetree Capital Ltd. (company) — Filing entity
• TruBridge, Inc. (company) — Subject company
• Computer Programs & Systems Inc. (company) — Former name of TruBridge, Inc.
• Damien Leonard (person) — Mentioned in relation to L6 Holdings Inc.
• L6 Holdings Inc. (company) — Associated entity
• Andrew Freedman, Esq. (person) — Legal counsel
• Olshan Frome Wolosky LLP (company) — Legal firm

FAQ

Key Financial Figures

• $0.001 — ame of Issuer) Common Stock, par value $0.001 per share (Title of Class of Securiti
• $15,221,313 — gregate purchase price of approximately $15,221,313, excluding brokerage commissions. Such
• $5,387,734 — gregate purchase price of approximately $5,387,734, excluding brokerage commissions. Such

Filing Documents

• sc13da314298002_11052024.htm (SC 13D/A) — 77KB
• 0000921895-24-002464.txt ( ) — 78KB

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 $15,221,313, 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 $5,387,734, excluding brokerage commissions. Such Shares were acquired using the working capital of PIP. Item 4. PURPOSE OF TRANSACTION.

is hereby amended to add the following

Item 4 is hereby amended to add the following: The Reporting Persons have engaged, and continue to engage, in discussions and communications with the Board and management of the Issuer. In the course of recent communications, the Reporting Persons have proposed that the Issuer improve its corporate governance practices, enhance the composition of the Board with shareholder representation, appropriately align its executive compensation practices and improve its capital allocation. 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 Amendment No. 3 for the aggregate number of Shares and percentages of the Shares beneficially owned by each of the Reporting Persons. The percentages used in this Amendment No. 3 are calculated based upon 14,960,311 Shares outstanding as of August 7, 2024, as reported in the Issuer’s Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2024, filed with the Securities and Exchange Commission on August 14, 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 2,244,000 Shares , representing approximately 14.99% of the outstanding Shares. Each of the Reporting Persons expressly disclaims beneficial ownership of the Shares beneficially owned by the other Reporting Persons. 4 CUSIP No. 205306103 (b) See rows (7) through (10) of the cover page to this Amendment No. 3 for the number of Shares as to which each Reporting Person has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition. (c) Information concerning transactions in the Shares effected by each Reporting Person during

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: November 5, 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 6 CUSIP No. 205306103 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 ($) 10/03/2024 455 11.91 – PCL Trade Date Shares Purchased (Sold) Price Per Share ($) Price Range ($) 10/02/2024 3,997 11.93 11.86-12.00 10/03/2024 15,003 11.93 11.88-12.00

View Full Filing

View this SC 13D/A filing on SEC EDGAR