SCHEDULE: Cadian Capital Management Discloses 4.7% Stake in Flywire

Cadian Capital Management, LP, along with its affiliates, has reported a beneficial ownership of 5,744,166 shares, representing 4.7% of Flywire Corporation's common stock as of June 30, 2026.

Summary

• Cadian Capital Management, LP, Cadian Capital Management GP, LLC, and Eric Bannasch (collectively, the 'Reporting Persons') have filed a Schedule 13G, indicating their beneficial ownership of Flywire Corporation's common stock.
• As of June 30, 2026, the Reporting Persons collectively beneficially owned 5,744,166 shares of Flywire Corporation's Voting Common Stock.
• This ownership stake represents approximately 4.7% of the total outstanding shares of Voting Common Stock, based on 121,609,147 shares outstanding as of the same date.
• The shares are held by advisory clients of Cadian Capital Management, LP, with the Adviser exercising exclusive voting and investment power.
• Eric Bannasch is the sole managing member of Cadian Capital Management GP, LLC, the general partner of the Adviser.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this filing as neutral to slightly positive, indicating a significant but not dominant ownership stake by Cadian Capital Management, LP, without immediate implications for control changes.

Positives

• Cadian Capital Management, LP has established a notable ownership position in Flywire Corporation, signaling confidence in the company's prospects.
• The filing clearly delineates the ownership structure and control mechanisms, providing transparency to investors.

Negatives

• The filing does not contain any negative financial information or operational concerns; it is purely an ownership disclosure.

Risks

• While not explicitly stated as a risk in this filing, significant ownership by an investment firm could lead to future activist investor actions or strategic shifts if performance does not meet expectations.

Future Outlook

This filing is a disclosure of beneficial ownership and does not contain forward-looking statements or guidance regarding Flywire Corporation's future performance.

Management Comments

• "All securities reported in this Schedule 13G were directly held by Cadian Master Fund L.P. and Cadian Opportunities Master Fund LP (collectively, the 'Advisory Clients'), advisory clients of Cadian Capital Management, LP (the 'Adviser')."
• "Pursuant to Investment Management Agreements between the Advisory Clients and the Adviser, the Adviser exercises exclusive voting and investment power over securities directly held by the Advisory Clients."
• "Cadian Capital Management GP, LLC is the general partner of the Adviser."
• "Eric Bannasch is the sole managing member of Cadian Capital Management GP, LLC."
• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11."

Industry Context

StockSavvy.ai notes that Schedule 13G filings are common for institutional investors accumulating significant stakes in public companies. Cadian Capital Management's filing indicates a substantial investment in Flywire, a company operating in the fintech and payment processing sector, which has seen considerable investor interest.

Stakeholder Impact

• Shareholders: Increased institutional ownership may lead to greater scrutiny of company performance and potentially influence corporate strategy.
• Management: The filing signals that a significant investor is monitoring the company's operations and performance.

Next Steps

• The Reporting Persons will continue to hold and manage their investment in Flywire Corporation according to their investment strategies.
• Future filings will be made if ownership levels change significantly.

Key Dates

Keywords

Flywire Corporation, Schedule 13G, Cadian Capital Management, Beneficial Ownership, Common Stock, Investment Management, Shareholder