SCHEDULE 13G/A: Oracle Investment Group Files Exit Schedule 13G for Forian Inc., Reducing Stake Below 5%
Beneficial Ownership Disclosure
Larry N. Feinberg and affiliated Oracle entities have filed an Amendment No. 3 to Schedule 13G, indicating they no longer collectively hold a beneficial ownership stake of 5% or more in Forian Inc. as of December 31, 2024.
Summary
- This filing is Amendment No. 3 to Schedule 13G for Forian Inc.'s common stock, reporting beneficial ownership as of December 31, 2024.
- The document explicitly states that it constitutes an "exit filing" for the Reporting Persons, meaning the group no longer beneficially owns 5% or more of Forian Inc.'s common stock.
- Larry N. Feinberg individually beneficially owns 1,366,107 shares, representing 4.4% of the class.
- Oracle Partners, L.P. beneficially owns 935,598 shares, representing 3.0% of the class.
- Oracle Institutional Partners, L.P. beneficially owns 113,929 shares, representing 0.4% of the class.
- Oracle Associates, LLC beneficially owns 1,049,527 shares, representing 3.4% of the class.
- Oracle Investment Management, Inc. beneficially owns 1,077,527 shares, representing 3.5% of the class.
- Oracle Investment Management, Inc. Employees' Retirement Plan beneficially owns 28,000 shares, representing 0.1% of the class.
- The Feinberg Family Foundation beneficially owns 7,200 shares, representing 0.0% of the class.
- All percentages are calculated based on 31,016,379 shares of Forian Inc. common stock outstanding as of November 12, 2024, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarter ended September 30, 2024.
Sentiment
Score: 4
Explanation: The filing indicates that a significant investor group, led by Larry N. Feinberg and Oracle entities, has reduced its beneficial ownership in Forian Inc. to below 5%, triggering an "exit filing." While a factual disclosure, the reduction of a substantial stake by a notable investor can be interpreted by the market as a loss of confidence or a strategic divestment, potentially leading to negative sentiment.
Negatives
- The filing indicates that Larry N. Feinberg and affiliated Oracle entities have reduced their collective beneficial ownership in Forian Inc. to below 5%, triggering an "exit filing," which can be perceived as a negative signal by the market regarding investor confidence.
Risks
- Potential negative market reaction and downward pressure on Forian Inc.'s share price due to a significant investor group reducing its stake, which may signal a lack of confidence or a strategic divestment.
Future Outlook
NA
Industry Context
NA
Stakeholder Impact
- Shareholders: Existing shareholders may interpret the reduction in stake by a significant investor group as a negative signal, potentially impacting share price or investor confidence. Potential new investors might view this as a red flag.
Key Dates
| Date | Description |
|---|---|
| 2022-04-14 | Date of initial Schedule 13G filing. |
| 2023-02-09 | Date of Amendment No. 1 filing. |
| 2024-02-13 | Date of Amendment No. 2 filing. |
| 2024-11-12 | Date as of which 31,016,379 shares of common stock were outstanding, used as the basis for percentage calculations (per Issuer's 10-Q). |
| 2024-12-31 | Date of event which requires filing of this statement (reporting date for ownership). |
| 2025-02-14 | Date of filing of this Amendment No. 3. |
Keywords
Forian Inc., Schedule 13G, beneficial ownership, Larry N. Feinberg, Oracle Partners, SEC filing, common stock, exit filing, institutional ownership
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