Casper Sleep and LKQ Stock See Action From Activist Investors

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These disclosures are from 13D filed with the Securities and Exchange Commission. 13Ds are filed within 10 days of receiving more than 5% in any class of securities of a company. Subsequent changes in holdings or intentions must be reported in the amended filing. This content is from November 18 to November 24, 2021. Source: insiderscore.com

Activist Holdings
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Casper Sleep (CSPR)

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new venture partner disclosed that it holds a 15% stake in the mattress and bedding maker, equivalent to 6,222,502 shares. New Enterprise announced that it had entered into an agreement with Casper Sleep and other investors to vote in favor of the acquisition of all of its Casper Sleep shares by Durational Capital Management of the retailer for $286 million. Under the deal, which was disclosed on November 15, Durational Capital will offer $6.90 in cash per Casper Slip share in a plan to take the company private. The acquisition of Caper Sleep is expected to close during the first quarter of 2022.

decrease in holdings

LKQ (LKQ)

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Valueact Capital reduced its interest in the auto-parts distributor to about one-fifth, to 6.1% of traditional stock. Through a stock-repurchase agreement, LKQ agreed to purchase 4,000,000 shares from ValueAct on November 17 for $57.28. The private deal is expected to close around November 22 and will leave ValueAct with a holding of 17,550,411 LKQ shares. ValueAct is represented on LKQ’s board by partner Jacob Welch, who was appointed last August through an earlier agreement between ValueAct and LKQ.

Cryoport (CYRX)

Blackstone Group (BX) has reduced its position in the life-sciences firm to 5,871,749 shares. On November 16, Blackstone affiliates Blackstone Tactical Opportunities and Blackstone Freeze Parent combined to sell 500,000 shares through a block trade sale at a combined price of $76 for Cryoport’s shares. No reason was given for the sale, which leaves Blackstone with a 10.7% stake in Cryoport’s outstanding stock. Blackstone Tactical Opportunities and Blackstone Freeze were also selling cryoport stock earlier this year, which included a total of 335,000 cryoport shares through a block trade on August 24 and 700,000 shares in June.

Stepstone Group (STEP)

ARG Private Equity reduced its stake in the private market investment firm to 7,518,036 shares. On November 18, ARG affiliate ARG Holdings sold 1,330,336 Stepstone shares through a secondary offering at a price of $52.35 for Stepstone shares. Following the offering, ARG owns 11.2% of Stepstone’s outstanding stock. ARG’s CEO Steven Mitchell serves on Stepstone’s board with Robert Waldo, who serves as an advisor to ARG-affiliated Sanford Energy.

Kanu (GOEV)

DE Capital has slashed its position in the maker of electric trucks and recreational vehicles by nearly half to 44,215,011 shares. DE Capital sells 35,273,268 Canu shares AFV Partners Through a private deal, in which the shares were priced at $6.53.

AFV Partners was founded by the CEO of Canoo, Tony Aquila, who now owns a majority stake in the EV maker. The sale closed on 22 November as part of the October purchase agreement between AFV and DE Capital, which was revised to 19 November.

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