SCHEDULE 13G/A: L1 Capital Global Opportunities Master Fund Amends Stake in Algorhythm Holdings, Disclosing 9.99% Beneficial Ownership
Beneficial Ownership Amendment (Schedule 13G)
L1 Capital Global Opportunities Master Fund, Ltd. has filed an amendment to its Schedule 13G, reporting a 9.99% beneficial ownership stake in Algorhythm Holdings, Inc. as of December 31, 2024.
Summary
- L1 Capital Global Opportunities Master Fund, Ltd. reported beneficial ownership of 264,400 shares of Algorhythm Holdings, Inc. common stock.
- This beneficial ownership represents 9.99% of Algorhythm Holdings, Inc.'s common stock outstanding.
- The reported amount includes common stock underlying 264,400 warrants.
- The percentage of class is based on 2,381,799 post-split shares of common stock outstanding, as reported in Algorhythm Holdings, Inc.'s Current Report on Form 8-K filed on February 6, 2025.
- The filing is an Amendment No. 1 to a Schedule 13G previously filed on December 26, 2024, which covered 6,016,847 shares purchased on December 17, 2024.
- The beneficial ownership does not include 19,012 warrants, which are subject to a 9.99% beneficial ownership limitation.
- David Feldman and Joel Arber are the Directors of L1 Capital Global Opportunities Master Fund, Ltd. and may be deemed to beneficially own these securities, though they disclaim beneficial ownership for other purposes.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership and does not contain qualitative statements that would indicate a positive or negative sentiment regarding the company's performance or outlook.
Future Outlook
The document does not contain any forward-looking statements or guidance.
Industry Context
This filing is a routine disclosure of a passive investment stake by an institutional fund. It does not provide specific insights into broader industry trends or competitive landscape, but rather reflects an investment decision within the financial sector's regulatory framework.
Stakeholder Impact
- Shareholders: Provides transparency regarding significant passive ownership stakes in the company, which can influence investor perception and trading activity.
Key Dates
| Date | Description |
|---|---|
| 2024-12-17 | Date of purchase for 6,016,847 shares covered in the initial Schedule 13G filing. |
| 2024-12-26 | Date of initial Schedule 13G filing with the SEC. |
| 2024-12-31 | Date of event which requires filing of this Amendment No. 1 to Schedule 13G. |
| 2025-02-06 | Date Algorhythm Holdings, Inc. filed its Current Report on Form 8-K, providing the basis for the outstanding share count. |
| 2025-02-14 | Date the Schedule 13G Amendment No. 1 was signed by David Feldman. |
Keywords
Algorhythm Holdings, L1 Capital Global Opportunities Master Fund, Schedule 13G, Beneficial Ownership, Common Stock, Warrants, SEC Filing, Institutional Investor
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