Otto Alexander Amends SITE Centers Corp. Stake
Ticker: SITC · Form: SC 13D/A · Filed: Nov 14, 2024 · CIK: 894315
Sentiment: neutral
Topics: ownership-change, sec-filing, amendment
Related Tickers: SITE
TL;DR
Otto Alexander just updated his SITE Centers stake filing (SC 13D/A). Watch this space.
AI Summary
On November 13, 2024, Otto Alexander filed an amendment (Amendment No. 27) to Schedule 13D for SITE Centers Corp. This filing indicates a change in beneficial ownership of the company's common shares. The filing was made by Otto Alexander, with legal representation from Alston & Bird LLP.
Why It Matters
This amendment to a Schedule 13D filing signals a potential shift in the ownership structure or strategy of SITE Centers Corp., which could impact its stock price and future business decisions.
Risk Assessment
Risk Level: medium — Schedule 13D filings often indicate significant ownership changes or activist investor involvement, which can introduce uncertainty and volatility.
Key Numbers
- 27 — Amendment Number (Indicates this is the 27th update to the filing.)
- 20241113 — Date of Event (The date triggering this filing amendment.)
Key Players & Entities
- SITE Centers Corp. (company) — Subject Company
- Otto Alexander (person) — Filing Person
- Julie A. Mediamolle (person) — Authorized Person for Notices
- Alston & Bird LLP (company) — Legal Counsel
- 251591103 (dollar_amount) — CUSIP Number
FAQ
What specific changes in beneficial ownership are reported in this Amendment No. 27?
The provided text does not detail the specific changes in beneficial ownership, only that an amendment was filed.
What is the CUSIP number for SITE Centers Corp. common shares?
The CUSIP number for SITE Centers Corp. common shares is 251591103.
Who is the authorized person to receive notices for this filing?
Julie A. Mediamolle from Alston & Bird LLP is the authorized person.
What is the business address of SITE Centers Corp.?
The business address is 3300 ENTERPRISE PARKWAY, BEACHWOOD, OH 44122.
What was SITE Centers Corp. formerly known as?
SITE Centers Corp. was formerly known as DDR CORP and DEVELOPERS DIVERSIFIED REALTY CORP.
Filing Stats: 1,151 words · 5 min read · ~4 pages · Grade level 6.9 · Accepted 2024-11-14 17:00:50
Key Financial Figures
- $0.10 — e of Issuer) Common Shares, par value $0.10 per share (Title of Class of Securiti
- $15.83 — prices for such transaction is between $15.83 and $16.165 (2) Reflects the weighte
- $16.165 — such transaction is between $15.83 and $16.165 (2) Reflects the weighted average sa
- $15.81 — prices for such transaction is between $15.81 and $15.98 (3) Reflects the weighted
- $15.98 — such transaction is between $15.81 and $15.98 (3) Reflects the weighted average sal
- $15.86 — prices for such transaction is between $15.86 and $16.29. (4) Reflects the weighte
- $16.29 — such transaction is between $15.86 and $16.29. (4) Reflects the weighted average s
- $16.17 — prices for such transaction is between $16.17 and $16.50. (5) Reflects the weighte
- $16.50 — such transaction is between $16.17 and $16.50. (5) Reflects the weighted average s
- $15.805 — prices for such transaction is between $15.805 and $16.21. (d) Not applicable. (e)
- $16.21 — such transaction is between $15.805 and $16.21. (d) Not applicable. (e) Not applic
Filing Documents
- d901949dsc13da.htm (SC 13D/A) — 40KB
- d901949dex992.htm (EX-99.2) — 16KB
- 0001193125-24-258758.txt ( ) — 57KB
is hereby amended to add the following
Item 5 is hereby amended to add the following: (a) Alexander Otto may be deemed to beneficially own 3,313,845 Common Shares, representing 6.3% of the Issuers outstanding Common Shares (based on 52,430,161 Common Shares outstanding as of October 25, 2024 as reported by the Issuer in the Form 10-Q filed with the Securities and Exchange Commission on October 30, 2024). (b) With respect to any rights or powers to vote, or to direct the vote of, or to dispose of, or direct the disposition of, the Common Shares referenced in paragraph 5(a), Mr. Otto has sole voting power and sole dispositive power with regard to 3,313,845 Common Shares. (c) Other than as set forth below, the Reporting Person has not effected any transactions in the Common Shares in the last sixty days. Date Transaction Amount Price 11/07/2024 Sale 123,774 $ 15.94143 (1) 11/08/2024 Sale 82,165 $ 15.88398 (2) 11/11/2024 Sale 112,406 $ 16.19035 (3) 11/12/2024 Sale 189,324 $ 16.25254 (4) 11/13/2024 Sale 145,155 $ 15.91650 (5) (1) Reflects the weighted average sale price. The range of prices for such transaction is between $15.83 and $16.165 (2) Reflects the weighted average sale price. The range of prices for such transaction is between $15.81 and $15.98 (3) Reflects the weighted average sale price. The range of prices for such transaction is between $15.86 and $16.29. (4) Reflects the weighted average sale price. The range of prices for such transaction is between $16.17 and $16.50. (5) Reflects the weighted average sale price. The range of prices for such transaction is between $15.805 and $16.21. (d) Not applicable. (e) Not applicable. CUSIP No. 251591103 SCHEDULE 13D Page 4 of 6 Pages Item7. Material to Be Filed as Exhibits. Exhibit 1 Investor Rights Agreement, dated May 11, 2009, between Mr. Otto and Developers Diversified Realty Corporation, incorporated herein by reference to Exhibit 10.1 of Form 8-K filed on May