INCON Co. Exits ZyVersa Therapeutics Stake
Ticker: ZVSA · Form: SC 13G/A · Filed: Jan 19, 2024 · CIK: 1859007
| Field | Detail |
|---|---|
| Company | Zyversa Therapeutics, Inc. (ZVSA) |
| Form Type | SC 13G/A |
| Filed Date | Jan 19, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Sentiment | bearish |
Complexity: simple
Sentiment: bearish
Topics: institutional-exit, ownership-change, portfolio-rebalancing
TL;DR
**INCON Co. just dumped all its ZyVersa shares, watch out for potential downside.**
AI Summary
INCON Co., Ltd. has filed an SC 13G/A 'exit filing' for ZyVersa Therapeutics, Inc., indicating they no longer hold a reportable stake as of December 31, 2023. Previously, INCON Co., Ltd. held sole voting and dispositive power over 42,777 shares of ZyVersa's Common Stock. This matters to investors because a significant institutional holder has exited their position, which could signal a loss of confidence or a strategic portfolio reallocation, potentially impacting the stock's perceived value.
Why It Matters
This filing signals that a previous institutional investor, INCON Co., Ltd., has sold off its entire reportable stake in ZyVersa Therapeutics, Inc., which could be interpreted negatively by the market.
Risk Assessment
Risk Level: medium — The exit of an institutional investor can sometimes signal underlying issues or a lack of confidence, posing a moderate risk to current or prospective shareholders.
Analyst Insight
A smart investor would investigate the reasons behind INCON Co., Ltd.'s exit from ZyVersa Therapeutics, Inc. and assess if there are any new negative developments or if this is simply a portfolio rebalancing before making any investment decisions.
Key Numbers
- 42,777 — Shares Beneficially Owned (The number of shares INCON Co., Ltd. previously held in ZyVersa Therapeutics, Inc. before exiting their position.)
Key Players & Entities
- INCON Co., Ltd. (company) — the reporting person exiting its stake
- ZyVersa Therapeutics, Inc. (company) — the subject company whose shares were held
- 42,777 (dollar_amount) — the number of shares beneficially owned by INCON Co., Ltd. prior to the exit
- December 31, 2023 (date) — the date of the event requiring the filing
Forward-Looking Statements
- ZyVersa Therapeutics' stock price may experience downward pressure due to the institutional exit. (ZyVersa Therapeutics, Inc.) — medium confidence, target: Q1 2024
FAQ
What is the primary purpose of this SC 13G/A filing by INCON Co., Ltd.?
This SC 13G/A is an 'Amendment No. 1 – Exit Filing,' indicating that INCON Co., Ltd. is reporting that they no longer hold a reportable beneficial ownership stake in ZyVersa Therapeutics, Inc. as of December 31, 2023.
Which company is the subject of this filing, and what is its CUSIP number?
The subject company is ZyVersa Therapeutics, Inc., and the CUSIP number for its Common Stock is 98987D102, as stated in the filing.
How many shares did INCON Co., Ltd. previously report having sole voting and dispositive power over?
Prior to this exit filing, INCON Co., Ltd. reported having sole voting power over 42,777 shares and sole dispositive power over 42,777 shares of ZyVersa Therapeutics, Inc. Common Stock.
What was the 'Date of Event which Requires Filing of this Statement'?
The 'Date of Event which Requires Filing of this Statement' was December 31, 2023, as specified in the filing.
Under which rule was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(c), as indicated by the 'X' in the appropriate box on the cover page.
Filing Stats: 757 words · 3 min read · ~3 pages · Grade level 9.4 · Accepted 2024-01-19 06:19:42
Filing Documents
- schedule13g-exitfiling.htm (SC 13G/A) — 24KB
- 0001958829-24-000001.txt ( ) — 26KB
Ownership
Item 4. Ownership (a) Amount Beneficially Owned: 42,777 (b) Percent of Class: 3.44% (c) Number of shares as to which such person has: (i) Sole power to vote or to direct the vote: 42,777 (ii) Shared power to vote or to direct the vote: (iii) Sole power to dispose or to direct the disposition of: 42,777 (iv) Shared power to dispose or to direct the disposition of:
Ownership of Five Percent or Less of a Class
Item 5. Ownership of Five Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [X].
Ownership of more than Five Percent on Behalf of Another Person
Item 6. Ownership of more than Five Percent on Behalf of Another Person. Not applicable. Item 7. Identification and classification of the subsidiary which acquired the security being reported on by the parent holding company or control person. Not applicable.
Identification and classification of members of the group
Item 8. Identification and classification of members of the group. Not applicable.
Notice of Dissolution of Group
Item 9. Notice of Dissolution of Group. Not applicable.
Certifications
Item 10. Certifications. Not applicable. SIGNATURE 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: January 17, 2024 INCON Co., Ltd. By: /s/ Seung Ku Jeon Name: Seung Ku Jeon Title: Chief Financial Officer The original statement shall be signed by each person on whose behalf the statement is filed or his authorized representative. If the statement is signed on behalf of a person by his authorized representative (other than an executive officer or general partner of this filing person), evidence of the representative's authority to sign on behalf of such person shall be filed with the statement, provided, however, that a power of attorney for this purpose which is already on file with the Commission may be incorporated by reference. The name and any title of each person who signs the statement shall be typed or printed beneath his signature. Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001).