Modivcare INC Schedule 13D activist filings

ModivCare Inc. has initiated Chapter 11 bankruptcy proceedings with a prearranged plan, which Coliseum Capital Management and its affiliates have joined as consenting creditors.

AI Catalyst Fund's David Mounts Gonzales has resigned from ModivCare Inc.'s Board of Directors, with the fund intending to continue engagement on the company's Chapter 11 restructuring.

AI Catalyst Fund's David Mounts Gonzales, a significant shareholder, has been appointed to the Board of Directors of ModivCare Inc., effective March 7, 2025.

The AI Catalyst Fund, LP has increased its beneficial ownership in ModivCare Inc. to 14.9% through recent open market purchases totaling 420,000 shares.

The AI Catalyst Fund, LP and its affiliates have increased their beneficial ownership in ModivCare Inc. to 12% of outstanding common stock, acquiring an additional 312,500 shares.

The AI Catalyst Fund, LP and its affiliates have disclosed a 9.8% beneficial ownership stake in ModivCare Inc., signaling intent to engage with management and the Board to enhance shareholder value.

Coliseum Capital Management and its affiliates have significantly increased their beneficial ownership in ModivCare Inc. to 31.4% through recent open market purchases.

Q Global Capital Management, a significant shareholder in ModivCare Inc., has transitioned from an activist stance to a passive investment role following the company's recent $75 million financing transaction and key governance changes, including board appointments and a new Chief Transformation Officer.

ModivCare Inc. has entered into an agreement with its significant shareholder group, Coliseum Investors, to raise $30 million through the purchase of new second lien notes and exchange an additional $20 million of existing senior notes for the new notes, subject to shareholder approval.