SCHEDULE 13G: Key Investor Thomas Satterfield, Jr. Discloses 6.56% Stake in CytoSorbents Corporation
Beneficial Ownership Disclosure
Thomas A. Satterfield, Jr. has disclosed a beneficial ownership of 6.56% of CytoSorbents Corporation's common stock, totaling 3,998,867 shares, as of January 13, 2025.
Summary
- Thomas A. Satterfield, Jr. reported beneficial ownership of 3,998,867 shares of CytoSorbents Corporation common stock.
- This represents 6.56% of the company's outstanding common stock.
- The percentage is calculated based on 54,679,569 shares outstanding as of November 5, 2024, plus 6,250,000 shares issued from a Rights Offering as of January 13, 2025.
- The reported beneficial ownership includes 131,578 warrants issued in December 2023, 585,479 Class A warrants, and 585,479 Class B warrants beneficially owned by Mr. Satterfield.
- Mr. Satterfield holds sole voting and dispositive power over 550,310 shares and shared voting and dispositive power over 3,448,557 shares.
Sentiment
Score: 7
Explanation: The disclosure of a significant stake by a prominent individual investor like Thomas A. Satterfield, Jr. can be viewed positively as it indicates confidence. The participation in a rights offering also shows continued commitment. However, it's a passive filing and doesn't provide operational or financial performance details.
Positives
- A significant individual investor, Thomas A. Satterfield, Jr., holds a substantial stake (6.56%) in CytoSorbents Corporation, potentially signaling confidence in the company's future.
- The filing indicates continued investment, including through the exercise of warrants and participation in a rights offering.
Risks
- The calculation of percentage ownership includes shares from a 'Rights Offering,' which typically involves the issuance of new shares and can lead to dilution for existing shareholders who do not participate.
Future Outlook
This document is a disclosure of current ownership and does not contain forward-looking statements or guidance from the company or the reporting person regarding future performance or strategy.
Industry Context
This filing indicates a significant stake by an individual investor in CytoSorbents Corporation, a company likely operating in the medical device or biotechnology sector. Such beneficial ownership disclosures are common for large investors and do not directly reflect broader industry trends, though the mention of a 'Rights Offering' could suggest the company is raising capital, a common activity in the biotech sector for R&D or commercialization.
Comparison to Industry Standards
- This document is a beneficial ownership filing and does not provide financial results or operational metrics that can be directly compared to industry standards or specific comparable companies/projects. It only details an individual's ownership stake.
Related Party Transactions
- 51,888 shares of Common Stock, 11,888 Class A Warrants, and 11,888 Class B Warrants are held jointly with Mr. Satterfield's spouse, Rebecca S. Satterfield.
- 12,972 shares of Common Stock, 2,972 Class A Warrants, and 2,972 Class B Warrants are held directly by Mr. Satterfield's spouse, Rebecca S. Satterfield.
- 464,731 shares of Common Stock, 39,473 Warrants, 118,879 Class A Warrants, and 118,879 Class B Warrants are held by Tomsat Investment & Trading Co., Inc., a corporation wholly owned by Mr. Satterfield and of which he serves as President.
- 928,318 shares of Common Stock, 92,105 Warrants, 178,318 Class A Warrants, and 178,318 Class B Warrants are held by A.G. Family L.P., a partnership managed by a general partner controlled by Mr. Satterfield.
- 878,318 shares of Common Stock, 178,318 Class A Warrants, and 178,318 Class B Warrants are held by Caldwell Mill Opportunity Fund, LLC, which fund is managed by an entity of which Mr. Satterfield owns a 50% interest and serves as Chief Investment Manager.
Stakeholder Impact
- Shareholders: The disclosure of a significant stake by a large investor may instill confidence. The mention of a Rights Offering implies potential dilution for non-participating shareholders but also capital infusion for the company.
Key Dates
| Date | Description |
|---|---|
| 2023-12-01 | Approximate date of issuance of 131,578 warrants included in beneficial ownership calculation. |
| 2024-09-30 | End of quarterly period for which CytoSorbents Corporation reported 54,679,569 shares outstanding on Form 10-Q. |
| 2024-11-05 | Date as of which 54,679,569 shares of common stock were reported outstanding by the issuer on its Quarterly Report on Form 10-Q. |
| 2025-01-13 | Date of event which requires filing of this statement (Rights Offering shares issued) and date of Current Report on Form 8-K filing regarding Rights Offering. |
| 2025-01-17 | Date of signing of the Schedule 13G statement. |
Keywords
CytoSorbents Corporation, Thomas A. Satterfield Jr., Schedule 13G, Beneficial Ownership, Common Stock, Warrants, Rights Offering, SEC Filing, Investment, Shareholder
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