H Partners Management Files SC 13D for Six Flags

TL;DR

**SIX** filing from H Partners Management, LLC. Activist stake incoming.

AI Summary

H Partners Management, LLC, through its representative Rehan Jaffer, has filed an SC 13D, indicating a significant stake in Six Flags Entertainment Corporation/NEW. The filing, dated July 1, 2024, suggests a potential shift in the company's strategic direction or ownership structure. H Partners Management, LLC is a known activist investor.

Why It Matters

This filing signals that H Partners Management, LLC, an activist investor, may be seeking to influence Six Flags' management or strategy, potentially leading to changes in the company's operations or stock performance.

Risk Assessment

Risk Level: medium — SC 13D filings often precede activist campaigns, which can introduce volatility and uncertainty for the company and its shareholders.

Key Players & Entities

• H Partners Management, LLC (company) — Filing entity and potential activist investor
• Six Flags Entertainment Corporation/NEW (company) — Subject company
• Rehan Jaffer (person) — Representative of H Partners Management, LLC
• Joshua Korff, P.C. (person) — Legal counsel for H Partners Management, LLC
• Kirkland & Ellis LLP (company) — Legal counsel for H Partners Management, LLC

FAQ

Key Financial Figures

• $0.01 — me of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securiti
• $0.025 — respect to the common stock, par value $0.025 per share, of Former Six Flags is colle

Filing Documents

• d862594dsc13d.htm (SC 13D) — 56KB
• d862594dex991.htm (EX-99.1) — 4KB
• 0001193125-24-175123.txt ( ) — 61KB

of this Schedule 13D is incorporated herein by reference

Item 4 of this Schedule 13D is incorporated herein by reference. As described in Item 4 below, on July 1, 2024, pursuant to the Agreement and Plan of Merger, dated as of November 2, 2023 (the Merger Agreement ), by and among the Issuer (f/k/a CopperSteel HoldCo, Inc.), Former Six Flags, Cedar Fair, L.P. ( Cedar Fair ) and CopperSteel Merger Sub, LLC, each share of common stock of Former Six Flags was converted into the right to receive 0.58 shares of common stock of the Issuer ( Six Flags Conversion Ratio ). Item4. Purpose of Transaction. On July 1, 2024, Former Six Flags completed the previously announced merger of equals transaction contemplated by the Agreement and Plan of Merger, dated as of November 2, 2023 (the Merger Agreement ), by and among the Former Six Flags, Cedar Fair, the Issuer, and CopperSteel Merger Sub, LLC ( Copper Merger Sub ). Pursuant to the Merger Agreement, (i) Copper Merger Sub was merged with and into Cedar Fair (the Cedar Fair First Merger ), with Cedar Fair continuing as the surviving entity (the Cedar Fair Surviving Entity ) and a direct subsidiary of the Issuer, (ii) the Cedar Fair Surviving Entity was subsequently merged with and into the Issuer (the Cedar Fair Second Merger and together with the Cedar Fair First Merger, the Cedar Fair Mergers ), with the Issuer continuing as the surviving corporation, and (iii) Former Six Flags merged with and into the Issuer(the Six Flags Merger and together with the Cedar Fair Mergers, the Mergers ), with the Issuer continuing as the surviving corporation. Upon the consummation of the Mergers, the separate legal existences of Copper Merger Sub, Cedar Fair and Former Six Flags ceased, and the Issuer changed its name from CopperSteel HoldCo, Inc. to Six Flags Entertainment Corporation. Capitalized terms used herein but not otherwise defined have the meaning set forth in the Merger Agreement. Upon completion of the Mergers, subject to certain exceptions, each issued and outstanding share of com