SCHEDULE: Voss Capital Boosts Stake in Flywire Corp to 7.1%

Voss Capital and its affiliates have disclosed an aggregate beneficial ownership of 7.1% in Flywire Corp's common stock as of June 30, 2025.

Summary

• Voss Capital, LP, along with its affiliates Voss Value Master Fund, LP, Voss Value-Oriented Special Situations Fund, LP, Voss Advisors GP, LLC, and Travis W. Cocke, collectively reported beneficial ownership of Flywire Corp's voting common stock.
• As of June 30, 2025, Voss Capital, LP and Travis W. Cocke each beneficially owned 8,550,000 shares, representing 7.1% of the outstanding shares.
• Voss Value Master Fund, LP beneficially owned 1,800,000 shares, equating to approximately 1.5% of the outstanding shares.
• Voss Value-Oriented Special Situations Fund, LP beneficially owned 300,000 shares, representing less than 1% (specifically 0.3%) of the outstanding shares.
• Voss Advisors GP, LLC, as the general partner for two of the funds, beneficially owned 2,100,000 shares, or approximately 1.8% of the outstanding shares.
• The aggregate percentage of shares owned is based on 119,685,024 shares outstanding as of May 1, 2025, as disclosed in Flywire Corp's Form 10-Q filed on May 7, 2025.
• The reporting persons certified that the securities were not acquired and are not held for the purpose of changing or influencing the control of the issuer, other than activities solely in connection with a nomination under Rule 14a-11.

Sentiment

Score: 5

Explanation: The filing is a routine disclosure of beneficial ownership, providing factual information without inherent positive or negative implications for the company's operational or financial performance.

Risks

• The reporting persons explicitly state 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 the issuer, other than activities solely in connection with a nomination under Rule 14a-11. This mitigates immediate activist risk but leaves open the possibility of future nominations.

Future Outlook

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

Industry Context

This Schedule 13G filing indicates a significant passive investment by Voss Capital and its affiliates in Flywire Corp, a company operating in the financial technology sector. Such filings are routine disclosures for institutional investors crossing certain ownership thresholds and do not inherently signal a change in industry trends or competitive landscape, but rather a conviction in the issuer's long-term value by a specific investment firm.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake by Voss Capital may be viewed positively by some shareholders as a vote of confidence, while others might monitor for any future activist intentions, though the filing explicitly disclaims such intent for control.
• Management: Management gains clarity on a significant shareholder's position, which is stated to be passive regarding control, reducing immediate pressure from this specific investor.

Key Dates

Keywords

Flywire Corp, Voss Capital, Beneficial Ownership, SEC Filing, Schedule 13G, Institutional Investor, Common Stock, Investment Management, Financial Services