Form 4: Sandia Investment Management LP Reduces Stake in dMY Squared Technology Group, Inc.

Sandia Investment Management LP reports the sale of DMYY shares between October 8 and October 21, 2024, reducing its beneficial ownership.

Summary

• Sandia Investment Management LP, through its investment manager capacity, has reported changes in its beneficial ownership of dMY Squared Technology Group, Inc. (DMYY) shares.
• Between October 8, 2024, and October 21, 2024, Sandia sold multiple blocks of Class A Common Stock.
• The sales were executed at prices ranging from $10.55 to $10.65 per share.
• The transactions resulted in a decrease in Sandia's indirectly held shares from 398,225 to 312,813.
• The reporting person disclaims beneficial ownership of the shares except to the extent of its or his pecuniary interest therein.

Sentiment

Score: 4

Explanation: The sentiment is neutral to slightly negative as a major shareholder is reducing their position. This could indicate a lack of confidence in the company's future prospects, but it could also be due to portfolio rebalancing or other factors unrelated to the company's performance.

Negatives

• Sandia Investment Management LP has decreased its holdings in dMY Squared Technology Group, Inc.

Risks

• Continued selling pressure from Sandia could negatively impact DMYY's stock price.

Management Comments

• Mr. Sichler serves as Managing Member of the general partner of Sandia, and in such capacity may be deemed to indirectly beneficially own the securities reported herein.
• Each of the Reporting Persons disclaims beneficial ownership of the shares reported herein except to the extent of its or his pecuniary interest therein, and the filing of this Form 4 shall not be construed as an admission that any of the Reporting Persons is the beneficial owner of any such shares for purposes of Section 16(a) of the Securities Exchange Act of 1934 or for any other purpose.

Industry Context

Form 4 filings are standard disclosures required by the SEC when insiders or significant shareholders of a publicly traded company buy or sell the company's stock. These filings provide transparency to the market regarding the actions of those with potential access to non-public information.

Stakeholder Impact

• The decrease in holdings by Sandia Investment Management LP could potentially concern shareholders.

Key Dates