SCHEDULE 13G/A: Pale Fire Capital Group Discloses 0.9% Passive Stake in Angi Inc. Following Recent Share Adjustments
Beneficial Ownership Disclosure
Pale Fire Capital and its affiliated entities, including Dusan Senkypl and Jan Barta, have filed an amended Schedule 13G, disclosing a beneficial ownership of 452,381 Class A Common Shares, representing 0.9% of Angi Inc.'s outstanding stock as of March 31, 2025.
Summary
- Pale Fire Capital SICAV a.s., Pale Fire Capital investicni spolecnost a.s., Pale Fire Capital SE, Dusan Senkypl, and Jan Barta collectively reported beneficial ownership of 452,381 shares of Angi Inc.'s Class A Common Stock.
- This ownership represents approximately 0.9% of Angi Inc.'s outstanding Class A Common Stock as of March 31, 2025.
- The shares are held with shared voting power and shared dispositive power among the reporting persons.
- The percentage is calculated based on 49,965,368 shares believed to be outstanding as of March 31, 2025.
- This outstanding share count reflects adjustments for Angi Inc.'s one-for-ten reverse stock split effective March 24, 2025.
- The outstanding share count also includes 120,350 shares issued to IAC Inc. on March 7, 2025, and 41,701,064 shares issued due to IAC's Class B common stock conversion on March 31, 2025.
- The filing is an Amendment No. 3 to a Schedule 13G, indicating a passive investment purpose, not for changing or influencing control of Angi Inc.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership, providing no positive or negative operational or financial news about the issuer. The sentiment is neutral.
Future Outlook
NA
Industry Context
This filing is a standard disclosure of a passive investment stake by a foreign investment group in a U.S. publicly traded company. It does not provide specific insights into broader industry trends or competitive dynamics beyond the ownership structure of Angi Inc.
Stakeholder Impact
- Shareholders: The disclosure of a 0.9% stake by Pale Fire Capital and its affiliates provides transparency regarding a significant, albeit passive, institutional investor in Angi Inc. This level of ownership is generally not considered to exert control but indicates an investor's position.
Key Dates
| Date | Description |
|---|---|
| 2025-02-07 | Date as of which 8,143,954 Shares (adjusted for Reverse Stock Split) were outstanding, as disclosed in Angi Inc.'s Annual Report on Form 10-K. |
| 2025-02-28 | Date Angi Inc. filed its Annual Report on Form 10-K with the SEC. |
| 2025-03-07 | Date 120,350 Shares (adjusted for Reverse Stock Split) were issued to IAC Inc. in connection with the settlement of certain equity awards. |
| 2025-03-10 | Date Angi Inc. filed its Current Report on Form 8-K reporting the one-for-ten reverse stock split. |
| 2025-03-13 | Date Angi Inc. filed its Current Report on Form 8-K reporting the issuance of shares to IAC Inc. |
| 2025-03-24 | Effective date of Angi Inc.'s one-for-ten reverse stock split. |
| 2025-03-31 | Date of event which requires filing of this statement; also the date IAC Inc. converted its Class B common stock, and the date for which beneficial ownership is reported. |
| 2025-04-01 | Date Angi Inc. filed its Current Report on Form 8-K reporting IAC's conversion of Class B common stock. |
| 2025-05-02 | Date the Schedule 13G Amendment No. 3 was signed by the reporting persons. |
Keywords
Angi Inc., Pale Fire Capital, Schedule 13G, Beneficial Ownership, Class A Common Stock, SEC Filing, Investment Disclosure, Passive Investment, Shareholding, Dusan Senkypl, Jan Barta
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