Thomist Capital Discloses 10.1% Stake in Peabody Energy
Ticker: BTU · Form: SC 13D · Filed: Aug 20, 2024 · CIK: 1064728
Sentiment: neutral
Topics: activist-investor, stake-acquisition, coal-industry
Related Tickers: BTU
TL;DR
**Thomist Capital now owns 10.1% of Peabody Energy ($535.7M invested) - BTU**
AI Summary
Thomist Capital Management, LP, along with Brian Kuzma and Thomist Fund, LP, reported on August 20, 2024, that they collectively beneficially own 10.1% of Peabody Energy Corp. (ticker: BTU). This ownership stake represents 13,350,000 shares of common stock, acquired for an aggregate purchase price of approximately $535.7 million.
Why It Matters
This filing indicates a significant investment by Thomist Capital in Peabody Energy, potentially signaling a belief in the company's future performance or a desire for influence.
Risk Assessment
Risk Level: medium — Significant stake disclosures can lead to increased volatility as the market reacts to the investor's intentions.
Key Numbers
- 10.1% — Ownership Stake (Thomist Capital's beneficial ownership in Peabody Energy Corp.)
- 13,350,000 — Shares Owned (Total number of Peabody Energy Corp. common shares beneficially owned.)
- $535.7 million — Aggregate Purchase Price (Total cost for the acquired shares of Peabody Energy Corp.)
Key Players & Entities
- Thomist Capital Management, LP (company) — Filing entity
- Brian Kuzma (person) — Group member
- Thomist Fund, LP (company) — Group member
- Peabody Energy Corp (company) — Subject company
- $535.7 million (dollar_amount) — Aggregate purchase price
- 13,350,000 (dollar_amount) — Number of shares owned
- 10.1% (dollar_amount) — Percentage of ownership
- August 20, 2024 (date) — Filing date
- Logan Moncrief (person) — Contact person
- Jason M. Daniel (person) — Legal counsel
FAQ
What is the total percentage of Peabody Energy Corp. shares beneficially owned by the reporting group?
The reporting group, including Thomist Capital Management, LP, Brian Kuzma, and Thomist Fund, LP, beneficially owns 10.1% of Peabody Energy Corp.
How many shares of Peabody Energy Corp. does the reporting group own?
The reporting group owns 13,350,000 shares of Peabody Energy Corp. common stock.
What was the total cost incurred by the reporting group to acquire these shares?
The aggregate purchase price for the shares was approximately $535.7 million.
When was this Schedule 13D filing submitted?
This Schedule 13D filing was submitted on August 20, 2024.
Who are the primary entities involved in this filing?
The primary entities are Thomist Capital Management, LP, Brian Kuzma, Thomist Fund, LP, and the subject company, Peabody Energy Corp.
Filing Stats: 4,183 words · 17 min read · ~14 pages · Grade level 7.6 · Accepted 2024-08-20 20:51:50
Key Financial Figures
- $0.01 — me of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securiti
- $76,535,723 — IDERATION The Fund used approximately $76,535,723 (excluding brokerage commissions) in th
- $57,704,105.40 — The Managed Accounts used approximately $57,704,105.40 (excluding brokerage commissions) in th
- $1.45B — lan focused on share buybacks given the $1.45B of cash currently on the balance sheet,
- $25 — r Calls each have and exercise price of $25 per share. The October Calls consist of
- $27 — Common Stock with an exercise price of $27 per share and options to purchase 1,000
- $30 — Common Stock with an exercise price of $30 per share. The Fund and the Managed Acc
Filing Documents
- d817154dsc13d.htm (SC 13D) — 311KB
- d817154dex991.htm (EX-99.1) — 6KB
- 0001193125-24-203869.txt ( ) — 318KB
SIGNATURES
SIGNATURES After reasonable inquiry and to the best of his or its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Date: August 20, 2024 THOMIST CAPITAL MANAGEMENT, LP By: Thomist Capital, LLC, its general partner By: /s/ Brian Kuzma Name: Brian Kuzma Title: Managing Member THOMIST CAPITAL, LLC By: /s/ Brian Kuzma Name: Brian Kuzma Title: Managing Member THE THOMIST FUND, LP By: Thomist Capital, LLC, its general partner By: /s/ Brian Kuzma Name: Brian Kuzma Title: Managing Member By: /s/ Brian Kuzma BRIAN KUZMA Schedule I TRANSACTIONS IN SHARES OF COMMON STOCK BY THE REPORTING PERSONS The following table sets forth all transactions in the shares of Common Stock effected by each of the Reporting Persons (on behalf of the Funds) in the past sixty days. All such transactions were purchases or sales of shares of Common Stock or options to purchase Common Stock effected in the open market or through the exercise of options, and the table excludes commissions paid in per share prices. Instrument Traded Effecting Beneficial Trade Date Shares or Contracts Purchased (Sold) Price Per Share ($) or Contract Trading Account Call Option (Exercise Price 22, Expiration June 28, 2024) 6/26/2024 760 $ 0.13 The Fund 160 $ 0.13 Managed Account 1 80 $ 0.13 Managed Account 2 Call Option (Exercise Price 22, Expiration June 28, 2024) 6/28/2024 (760 ) $ 0.2927 The Fund (160 ) $ 0.2927 Managed Account 1 (80 ) $ 0.2927 Managed Account 2 Common Stock 7/2/2024 97,600 $ 23.4255 The Fund 20,560 $ 23.4255 Managed Account 1 10,280 $ 23.4255 Managed Account 2 Common Stock 7/15/2024 54,416 $ 23.5597 The Fund 11,456 $ 23.5597 Managed Account 1 5,728 $ 23.5597 Managed Account 2 Common Stock 7/15/2024 76,000 $ 23.6496 The Fund 16,000 $ 23