Synchron Ups Stake in Rare Element Resources to 10.4%
Ticker: REEMF · Form: SC 13D/A · Filed: Jun 28, 2024 · CIK: 1419806
Sentiment: neutral
Topics: ownership-change, sec-filing, investment
Related Tickers: REEMF
TL;DR
Synchron now owns 10.4% of Rare Element Resources after filing an amendment. Big move.
AI Summary
On June 28, 2024, Synchron filed an amendment (Amendment No. 4) to its Schedule 13D regarding Rare Element Resources Ltd. This filing indicates a change in beneficial ownership, with Synchron now holding 10.4% of the outstanding common stock. The filing also notes that James N. Blue and Tenaya Corp. are group members associated with Synchron.
Why It Matters
This filing signals a significant increase in Synchron's investment in Rare Element Resources, potentially influencing the company's strategic direction and future operations.
Risk Assessment
Risk Level: medium — Changes in major shareholder stakes can introduce uncertainty and potential shifts in company strategy, impacting stock price volatility.
Key Numbers
- 10.4% — Ownership Stake (Synchron's beneficial ownership of Rare Element Resources' common stock as of the filing date.)
Key Players & Entities
- Synchron (company) — Filing entity increasing ownership
- Rare Element Resources Ltd. (company) — Subject company
- James N. Blue (person) — Group member associated with Synchron
- Tenaya Corp. (company) — Group member associated with Synchron
- Rhys Williams (person) — Contact person for Synchron
- Donald G. Kilpatrick, Esq. (person) — Legal counsel for Synchron
FAQ
What is the total number of shares of Rare Element Resources Ltd. common stock outstanding?
The filing does not explicitly state the total number of outstanding shares, but Synchron's 10.4% ownership implies a calculation based on this figure.
What was the previous ownership percentage of Synchron before this amendment?
The filing is Amendment No. 4, indicating previous filings, but the specific prior percentage is not detailed in this excerpt.
What is the primary business of Rare Element Resources Ltd.?
Rare Element Resources Ltd. is in the GOLD & SILVER ORES industry, as indicated by its Standard Industrial Classification code [1040].
What is the business address of Synchron?
Synchron's business address is 3550 General Atomics Court, San Diego, CA 92121.
What is the filing date of this amendment?
This amendment (Amendment No. 4) was filed on June 28, 2024.
Filing Stats: 2,554 words · 10 min read · ~9 pages · Grade level 13.2 · Accepted 2024-06-28 17:11:51
Key Financial Figures
- $4,752,000 — as of the date of the transaction, for $4,752,000 in cash, including a $500,000 prelimina
- $500,000 — on, for $4,752,000 in cash, including a $500,000 preliminary payment made on August 18,
- $5,040,000 — Shares ") at a total exercise price of $5,040,000 in cash (the " Option Exercise Price ")
- $15,727,662 — ares of the Issuer for a total price of $15,727,662 in cash (such transaction, the " 2021 S
- $29,326,030 — ares of the Issuer for a total price of $29,326,030 in cash (such transaction, the " 2024 S
Filing Documents
- ef20031198_sc13da.htm (SC 13D/A) — 132KB
- ef20031198_ex1.htm (EX-99.1) — 8KB
- 0001140361-24-031794.txt ( ) — 141KB
of the Existing Schedule 13D is hereby amended by adding the following
Item 7 of the Existing Schedule 13D is hereby amended by adding the following: Exhibit 1. Amended Joint Filing Agreement.
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: June 28, 2024 SYNCHRON By: /s/ Rhys Williams Name: Rhys Williams Title: President and Treasurer GENERAL ATOMIC TECHNOLOGIES CORPORATION By: /s/ James N. Blue Name: James N. Blue Title: Chairman, President and Chief Executive Officer TENAYA CORPORATION By: /s/ James N. Blue Name: James N. Blue Title: Chairman and President JAMES N. BLUE By: /s/ James N. Blue Name: James N. Blue