SCHEDULE: Magnetar Entities Report Full Exit from Faro Technologies Following $44.00 Per Share Merger
Schedule 13D Amendment
Magnetar Financial LLC and its affiliates have reported the complete conversion of their 1,483,329 shares of Faro Technologies Inc. Class A Common Stock into cash at $44.00 per share, following the consummation of a merger on July 22, 2025.
Summary
- Faro Technologies Inc. completed a merger on July 22, 2025, resulting in each outstanding share being converted into the right to receive $44.00 in cash, without interest.
- Magnetar Financial LLC, Magnetar Capital Partners LP, Supernova Management LLC, and David J. Snyderman (the "Reporting Persons") had their 1,483,329 shares cancelled and converted into cash.
- The shares converted included 712,544 shares for PRA Master Fund, 338,886 shares for Systematic Master Fund, 88,061 shares for Relative Value Master Fund, and 343,838 shares for two Managed Accounts.
- As of the closing of the merger on July 22, 2025, the Reporting Persons beneficially own 0 shares of Faro Technologies Inc., representing 0% of the class.
- The filing is an Amendment No. 1 to a Schedule 13D, updating the status of the Reporting Persons' holdings post-merger.
Sentiment
Score: 5
Explanation: The filing is neutral, reporting the factual completion of a merger transaction as expected. It does not contain positive or negative operational news, but rather a procedural update for an investor.
Positives
- The merger successfully closed, providing a clear cash exit for shareholders at the agreed-upon price of $44.00 per share.
Negatives
- No specific negatives are identified in this filing, as it reports the successful completion of a transaction.
Future Outlook
The filing does not provide any forward-looking statements or guidance regarding Faro Technologies Inc., as it reports on a completed transaction.
Industry Context
This filing reflects the final stage of an acquisition, where a publicly traded company's shares are converted to cash, leading to its delisting or integration into another entity. Such transactions are common in mature industries or as part of strategic portfolio adjustments by investment firms.
Stakeholder Impact
- Shareholders of Faro Technologies Inc. received $44.00 in cash per share, concluding their investment in the company's public stock.
Key Dates
| Date | Description |
|---|---|
| 2022-12-22 | Date of the Limited Power of Attorney granted by David J. Snyderman. |
| 2025-05-14 | Date of the initial Schedule 13D filing. |
| 2025-07-22 | Date of the event requiring this filing; consummation of the merger where shares were converted to cash. |
| 2025-07-24 | Date of the Joint Filing Agreement and the signing of this Schedule 13D Amendment No. 1. |
Keywords
Faro Technologies, Magnetar Financial, Merger, Schedule 13D, Share conversion, Cash acquisition, Investment funds, SEC filing, Institutional investor
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