Form 4: Clifford Sosin Reports Beneficial Ownership Changes in Cardlytics, Inc.

Clifford Sosin, a director and 10% owner of Cardlytics, Inc., reports changes in beneficial ownership, including transactions involving convertible senior notes and common stock.

Summary

• Clifford Sosin, a director and 10% owner of Cardlytics, Inc. (CDLX), filed a Form 4 detailing changes in beneficial ownership.
• The report indicates transactions involving 4.25% Convertible Senior Notes due 2029 and common stock.
• Sosin Master, L.P. directly holds $13,786,000 principal amount of the Notes, while CSWR Partners, L.P. directly holds $6,214,000 principal amount of the Notes.
• Holders of the Notes have the right to convert them into shares of Common Stock at an initial conversion rate of 55.4939 shares of Common Stock per $1,000 principal amount of Notes, subject to adjustment.
• The issuer has the option to settle conversions in cash, shares, or a combination thereof.
• As of the report, Sosin beneficially owns 6,373,676 shares of common stock indirectly through Sosin Master, L.P. and CSWR Partners, L.P.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral. It simply reports transactions.

Industry Context

Form 4 filings are a routine part of the regulatory landscape for publicly traded companies, providing transparency into the transactions of company insiders and large shareholders. This filing indicates activity by a significant shareholder in Cardlytics.

Stakeholder Impact

• Shareholders may be interested in the transactions of large shareholders like Clifford Sosin.
• The conversion of notes could potentially dilute existing shareholders.

Key Dates