Pinetree Capital & L6 Holdings Shift to SC 13D for TruBridge Stake

TL;DR

**TRUB:** Pinetree & L6 Holdings now own 5.1% and filed 13D, not 13G. Watch this space.

AI Summary

On March 12, 2024, Pinetree Capital Ltd. and L6 Holdings Inc. filed an SC 13D, indicating they collectively beneficially own 1,700,000 shares of TruBridge, Inc. common stock, representing 5.1% of the outstanding shares. This filing follows a previous Schedule 13G filing, suggesting a potential shift in their investment strategy or holdings. The filing does not specify any immediate plans for the company.

Why It Matters

A switch from a Schedule 13G to a Schedule 13D filing by significant shareholders like Pinetree Capital and L6 Holdings often signals a more active or strategic interest in the company, potentially leading to changes in corporate governance or strategy.

Risk Assessment

Risk Level: medium — The change from a passive 13G to an active 13D filing by significant shareholders introduces uncertainty about their intentions, which could impact the stock price.

Key Numbers

• 1,700,000 — Shares Owned (Beneficial ownership by Pinetree Capital Ltd. and L6 Holdings Inc.)
• 5.1% — Ownership Stake (Percentage of TruBridge, Inc. common stock held by filers.)

Key Players & Entities

• Pinetree Capital Ltd. (company) — Filing entity
• L6 Holdings Inc. (company) — Filing entity
• TruBridge, Inc. (company) — Subject company
• Damien Leonard (person) — Contact person for L6 Holdings Inc.
• David A. Curtiss (person) — Legal counsel
• 1,700,000 (dollar_amount) — Number of shares beneficially owned
• 5.1% (dollar_amount) — Percentage of outstanding shares owned

FAQ

Key Financial Figures

• $0.001 — me of Issuer) Common Stock, par value $0.001 per share (Title of Class of Securitie
• $10,111,953 — gregate purchase price of approximately $10,111,953, excluding brokerage commissions. Such
• $4,216,606 — gregate purchase price of approximately $4,216,606, excluding brokerage commissions. Such

Filing Documents

• p24-1180sc13d.htm (SC 13D) — 99KB
• 0000902664-24-002402.txt ( ) — 101KB

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: March 12, 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 Page 8 of 10 Pages Schedule A The following sets forth the name, position, address, principal occupation and citizenship or jurisdiction of each executive officer or director of each Reporting Person (the " Instruction C Persons "). To the best of each Reporting Person's knowledge, (i) none of the Instruction C Persons during the last five years has been convicted in a criminal proceeding (excluding traffic violations or other similar misdemeanors) or been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws and (ii) none of the Instruction C Persons owns any Shares or is party to any contract or agreement as would require disclosure in this Schedule 13D, except as otherwise disclosed herein. L6 Name Title or Relationship with Reporting Person Principal Occupation or Employment Citizenship or Jurisdiction of Organization Principal Place of

Business

Business Damien Leonard Managing Director Managing Director of L6 and President of PCL Canada 49 Leuty Ave. Toronto, Ontario M4E 2R2, Canada Costain Leonard Managing Director Managing Director of L6 Canada 49 Leuty Ave. Toronto, Ontario M4E 2R2, Canada Cebastien Leonard Managing Director Managing Director of L6 Canada 49 Leuty Ave. Toronto, Ontario M4E 2R2, Canada PCL Name Title or Relationship with Reporting Person Principal Occupation or Employment Citizenship or Jurisdiction of Organization Principal Place of

Business

Business Damien Leonard President and Director Managing Director of L6 and President and Director of PCL Canada 49 Leuty Ave. Toronto, Ontario M4E 2R2, Canada Peter Tolnai Director Corporate Director Canada 49 Leuty Ave. Toronto, Ontario M4E 2R2, Canada Craig Miller Director President of Ithaka Partners Ltd. Canada 82-33 Hazelton Ave., Toronto Ontario, M5R 2E3. Canada Howard Ribak Director Director of Private Equity at Sectoral Asset Management Inc. Canada 1610-1010 Sherbrooke St. West, Montreal, Quebec, H3A 2R7, Canada John Bouffard Chief Financial Officer and Secretary Chief Financial Officer and Secretary of PCL Canada 49 Leuty Ave. Toronto, Ontario M4E 2R2, Canada CUSIP No. 205306103 SCHEDULE 13D Page 9 of 10 Pages Schedule B Transactions in the Shares of the Issuer 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 ($) 02/02/2024 47,302 10.040 9.920-10.080 02/05/2024 71,200 9.626 9.515-9.750 02/07/2024 50,878 9.968 9.800-10.090 02/08/2024 10,000 10.375 10.280-10.440 02/09/2024 17,000 10.373 10.300-10.400 02/12/2024 10,373 10.266 10.080-10.400 02/13/2024 85,798 10.084 9.925-10.

View Full Filing

View this SC 13D filing on SEC EDGAR