SCHEDULE 13G/A: Wasserstein Entities Amend Calumet, Inc. Stake Disclosure, Correcting Rajay Bagaria's Reported Ownership
Beneficial Ownership Amendment
Wasserstein Debt Opportunities Management, LP and related entities have filed an Amendment No. 5 to their Schedule 13G for Calumet, Inc., primarily to correct the number of shares directly beneficially owned by Rajay Bagaria.
Summary
- Wasserstein Debt Opportunities Management, LP, WDO Management GP, LLC, Rajay Bagaria, Joseph Dutton, Wasserstein Debt Opportunities Master, LP, and Wasserstein Debt Opportunities GenPar, LLC collectively filed an Amendment No. 5 to their Schedule 13G regarding their beneficial ownership in Calumet, Inc.
- The primary purpose of this amendment is to correct an error in the previously reported number of shares directly beneficially owned by Rajay Bagaria.
- Rajay Bagaria's directly beneficially owned shares were mistakenly reported as 408,100 in Amendment No. 4 and are now correctly stated as 349,547 shares.
- As of December 31, 2024, Wasserstein Debt Opportunities Management, LP and WDO Management GP, LLC each beneficially own 5,689,984 shares, representing 6.6% of Calumet, Inc.'s Common Stock.
- Rajay Bagaria's aggregate beneficial ownership is 6,039,531 shares, representing 7.0% of the class.
- Joseph Dutton's aggregate beneficial ownership is 5,693,289 shares, representing 6.6% of the class.
- Wasserstein Debt Opportunities Master, LP and Wasserstein Debt Opportunities GenPar, LLC each beneficially own 4,332,824 shares, representing 5.0% of the class.
- The percentages of beneficial ownership are based on 85,904,105 shares of Common Stock outstanding as of November 11, 2024, as disclosed by Calumet, Inc. in its Form 10-Q filed on November 12, 2024.
- The reporting persons disclaim beneficial ownership of any Common Stock other than what is directly owned by each respective reporting person.
Sentiment
Score: 5
Explanation: The document is neutral in sentiment, primarily serving as a factual correction to a previous filing regarding beneficial ownership. It does not contain information that would typically indicate positive or negative business performance or strategic shifts.
Negatives
- The filing indicates a previous error in reporting the number of shares directly beneficially owned by Rajay Bagaria in Amendment No. 4, which required a correction.
Future Outlook
NA
Industry Context
This filing is a standard regulatory disclosure for institutional investors and control persons who acquire more than 5% beneficial ownership in a public company. It reflects a routine update to ownership records rather than a strategic industry move.
Stakeholder Impact
- Shareholders: Provides updated and corrected information on significant beneficial ownership, ensuring transparency in the company's ownership structure.
Key Dates
| Date | Description |
|---|---|
| 2024-11-11 | Date as of which 85,904,105 shares of Common Stock were outstanding, as disclosed by Calumet, Inc. in its Form 10-Q. |
| 2024-11-12 | Date Calumet, Inc. filed its Form 10-Q with the SEC, disclosing shares outstanding. |
| 2024-12-31 | Date of event which requires the filing of this Schedule 13G Amendment No. 5. |
| 2025-02-25 | Date Amendment No. 5 to Schedule 13G was signed and filed. |
Keywords
Schedule 13G, Beneficial Ownership, Calumet Inc., Wasserstein Debt Opportunities Management, Rajay Bagaria, SEC Filing, Common Stock, Investment Management, Shareholder Disclosure
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