Glenview Capital Discloses 4.3% Stake in Alight, Inc.
Ticker: ALIT · Form: SC 13G · Filed: Jan 16, 2024 · CIK: 1809104
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, insider-buy, stake-disclosure
TL;DR
**Glenview Capital just revealed a 4.3% stake in Alight, signaling bullish institutional interest.**
AI Summary
Glenview Capital Management, LLC, a New York-based investment firm, reported on January 16, 2024, that it holds a significant stake in Alight, Inc. / Delaware's Class A Common Stock. This filing indicates that Glenview Capital Management now beneficially owns 20,000,000 shares, representing 4.3% of Alight's outstanding shares. This matters to investors because a large institutional investor like Glenview taking a substantial position can signal confidence in the company's future, potentially attracting other investors and influencing stock performance.
Why It Matters
A major institutional investor like Glenview Capital Management taking a 4.3% stake in Alight, Inc. can be seen as a vote of confidence, potentially boosting investor sentiment and the stock price.
Risk Assessment
Risk Level: low — This filing indicates a new significant institutional investor, which is generally a positive signal and not a direct risk.
Analyst Insight
Smart investors might consider researching Alight, Inc. further, as a significant institutional investment often signals potential value or upcoming positive developments.
Key Numbers
- 20,000,000 — Shares Beneficially Owned (Glenview Capital Management's total ownership in Alight, Inc.)
- 4.3% — Percentage of Class A Common Stock (The proportion of Alight, Inc. owned by Glenview Capital Management.)
Key Players & Entities
- Glenview Capital Management, LLC (company) — reporting person, investment firm
- Alight, Inc. / Delaware (company) — subject company, issuer of stock
- 20,000,000 (dollar_amount) — number of shares beneficially owned
- 4.3% (dollar_amount) — percentage of Class A Common Stock owned
- January 16, 2024 (person) — date of event requiring filing
Forward-Looking Statements
- Alight, Inc.'s stock price may see a short-term positive reaction due to increased institutional interest. (Alight, Inc.) — medium confidence, target: 3 months
FAQ
Who is the reporting person in this SC 13G filing?
The reporting person is GLENVIEW CAPITAL MANAGEMENT, LLC, located at 767 Fifth Avenue, 44th Floor, New York, NY 10153.
What is the subject company whose shares are being reported?
The subject company is Alight, Inc. / Delaware, with its business address at 4 Overlook Point, Lincolnshire, IL 60069.
How many shares of Alight, Inc. Class A Common Stock does Glenview Capital Management, LLC beneficially own?
Glenview Capital Management, LLC beneficially owns 20,000,000 shares of Alight, Inc. Class A Common Stock.
What percentage of Alight, Inc.'s Class A Common Stock does this ownership represent?
This ownership represents 4.3% of Alight, Inc.'s Class A Common Stock.
What was the date of the event that triggered this SC 13G filing?
The date of the event which required the filing of this statement was January 16, 2024.
Filing Stats: 1,710 words · 7 min read · ~6 pages · Grade level 11.6 · Accepted 2024-01-16 17:25:45
Key Financial Figures
- $0.0001 — (Name of Issuer) Class A Common Stock, $0.0001 par value per share (Title of Class o
Filing Documents
- ef20018944_sc13g.htm (SC 13G) — 86KB
- 0001140361-24-002394.txt ( ) — 87KB
(a)
Item 1(a). Name of Issuer: Alight, Inc. (the "Issuer")
(b)
Item 1(b). Address of Issuer's Principal Executive Offices: 4 Overlook Point, Lincolnshire, Illinois 60069
(a)
Item 2(a). Name of Person Filing: This Statement is filed on behalf of each of the following persons (collectively, the "Reporting Persons"): i) Glenview Capital Management, LLC ("Glenview Capital Management"); and ii) Larry Robbins ("Mr. Robbins"). This Statement relates to Shares (as defined herein) held for the accounts of Glenview Capital Master Fund, Ltd., a Cayman Islands exempted company ("Glenview Capital Master Fund"), Glenview Offshore Opportunity Master Fund, Ltd., a Cayman Islands exempted company ("Glenview Offshore Opportunity Master Fund"), and Glenview Healthcare Master Fund, L.P., a Cayman Islands limited partnership ("Glenview Healthcare Master Fund"). Glenview Capital Management serves as investment manager to each of Glenview Capital Master Fund, Glenview Offshore Opportunity Master Fund and Glenview Healthcare Master Fund. Mr. Robbins is the Chief Executive Officer of Glenview Capital Management.
(b)
Item 2(b). Address of Principal Business Office or, if None, Residence: The address of the principal business office of each of Glenview Capital Management and Mr. Robbins is 767 Fifth Avenue, 44th Floor, New York, New York 10153.
(c)
Item 2(c). Citizenship: i) Glenview Capital Management is a Delaware limited liability company; ii) Mr. Robbins is a citizen of the United States of America.
(d)
Item 2(d). Title of Class of Securities: Class A Common Stock, $0.0001 par value per share (the "Shares")
(e)
Item 2(e). CUSIP Number: 01626W101 Item 3. If This Statement is Filed Pursuant to 240.13d-1(b) or 240.13d-2(b) or (c), Check Whether the Person Filing is a: This Item 3 is not applicable. CUSIP No. 01626W101 Page 5 of 9 Pages Item 4.
(a)
Item 4(a). Amount Beneficially Owned: As of January 16, 2024, each of Glenview Capital Management and Mr. Robbins may be deemed the beneficial owner of 25,082,388 Shares. This amount consists of: (A) 8,549,766 Shares held for the account of Glenview Capital Master Fund; (B) 15,533,827 Shares held for the account of Glenview Offshore Opportunity Master Fund; and (C) 998,795 Shares held for the account of Glenview Healthcare Master Fund.
(b)
Item 4(b). Percent of Class: As of January 16, 2024, each of the Reporting Persons may be deemed the beneficial owner of approximately 5.00% of Shares outstanding. (There were 501,183,396 Shares outstanding as of October 26, 2023, based on the Issuer's quarterly report on Form 10-Q filed on November 1, 2023.)
(c)
Item 4(c). Number of Shares as to Which Such Person has: Each of Glenview Capital Management and Mr. Robbins: (i) Sole power to vote or direct the vote: 0 (ii) Shared power to vote or direct the vote: 25,082,388 (iii) Sole power to dispose or direct the disposition of: 0 (iv) Shared power to dispose or direct the disposition of: 25,082,388 Item 5. This Item 5 is not applicable. Item 6. See disclosure in Items 2 and 4 hereof. Certain funds and the custodial account listed in Item 2(a) are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Shares covered by this Statement that may be deemed to be beneficially owned by the Reporting Persons. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person: See disclosure in Item 2 hereof. Item 8. Identification and Classification of Members of the Group: This Item 8 is not applicable. Item 9. Notice of Dissolution of Group: This Item 9 is not applicable. Item 10. Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. CUSIP No. 01626W101 Page 6 of 9 Pages 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. GLENVIEW CAPITAL MANAGEMENT, LLC By: /s/ Mark J. Horowitz Mark J. Horowitz Co