SCHEDULE: Glazer Capital Discloses 7.38% Stake in Denny's Corp

Glazer Capital, LLC and Paul J. Glazer have reported a beneficial ownership of 7.38% in Denny's Corp, totaling 3.8 million shares.

Summary

• Glazer Capital, LLC and Paul J. Glazer reported beneficial ownership of 3,800,000 shares of Denny's Corp common stock.
• This stake represents 7.38% of the total class of securities.
• The reporting persons, Glazer Capital, LLC (a Delaware limited liability company) and Paul J. Glazer (a United States citizen), share both voting and dispositive power over all 3,800,000 shares.
• The filing was made under Rule 13d-1(b), which is typically used by institutional investors.
• The reporting persons certified that the securities were not acquired or held for the purpose of changing or influencing control of Denny's Corp, with the exception of activities solely in connection with a nomination under Rule 14a-11.

Sentiment

Score: 5

Explanation: The filing is a factual disclosure of beneficial ownership and does not inherently convey positive or negative sentiment regarding the issuer's performance or prospects. The certification explicitly states no intent to influence control, which is neutral.

Future Outlook

NA

Management Comments

• Glazer Capital, LLC and Paul J. Glazer certified that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of Denny's Corp, other than activities solely in connection with a nomination under Rule 240.14a-11.

Industry Context

NA

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake by Glazer Capital could be interpreted by other shareholders as a positive signal, suggesting confidence in the company's value. However, the explicit disclaimer of intent to influence control (beyond potential nominations under Rule 14a-11) limits the immediate implications for strategic changes.

Key Dates

Keywords

Denny's Corp, Glazer Capital, Paul J. Glazer, Beneficial Ownership, Schedule 13G, Common Stock, Institutional Investor, Stake