SCHEDULE 13G/A: Boothbay Entities Disclose 3.6% Passive Stake in Graphex Group Ltd.

Boothbay Fund Management, LLC, Boothbay Absolute Return Strategies, LP, and Ari Glass have jointly filed an amended Schedule 13G, disclosing a 3.6% beneficial ownership stake in Graphex Group Ltd. as of December 31, 2024.

Summary

• Boothbay Fund Management, LLC, Boothbay Absolute Return Strategies, LP, and Ari Glass collectively reported beneficial ownership of 2,085,945 American Depositary Shares (ADS) of Graphex Group Ltd.
• This ownership represents 3.6% of the total outstanding class of Graphex Group Ltd. securities.
• The filing is an Amendment No. 2 to a Schedule 13G, indicating a passive investment purpose, not for the purpose of changing or influencing control of the issuer.
• The shares are held by one or more private funds managed by Boothbay Fund Management, LLC, with Ari Glass serving as its Managing Member.
• The reporting persons share voting and dispositive power over all 2,085,945 shares, with no sole voting or dispositive power.

Sentiment

Score: 5

Explanation: The document is a factual, regulatory disclosure of beneficial ownership and does not contain information that would inherently convey positive or negative sentiment regarding the issuer's performance or prospects.

Positives

• The filing provides transparency regarding significant institutional shareholdings in Graphex Group Ltd.
• The passive nature of the investment, as indicated by the Schedule 13G filing, suggests that the reporting entities are not seeking to influence or change the control of the issuer.

Negatives

• This Schedule 13G filing is a routine ownership disclosure and does not contain information typically categorized as 'negatives' related to the issuer's performance or operations.

Risks

• The reporting persons explicitly disclaim beneficial ownership of any securities reported, except to the extent of their pecuniary interest, particularly for shares where investment and voting discretion has been delegated to subadvisors and cannot be terminated within sixty days. This could imply a lack of direct control or influence over these specific shares by the reporting entities.

Future Outlook

NA

Industry Context

This filing indicates continued institutional investor interest in Graphex Group Ltd. by Boothbay Fund Management and its affiliates. Such passive ownership disclosures are common for publicly traded companies and reflect routine portfolio management by investment firms.

Stakeholder Impact

• Shareholders of Graphex Group Ltd. gain transparency regarding the significant holdings of Boothbay Fund Management and its related entities, which can inform their understanding of the company's ownership structure.

Next Steps

• The reporting persons will continue to monitor their investment in Graphex Group Ltd. and file further amendments to Schedule 13G if their beneficial ownership percentage changes significantly or if their investment purpose shifts.

Key Dates

Keywords

Graphex Group Ltd, American Depositary Shares, ADS, beneficial ownership, Schedule 13G, Boothbay Fund Management, Boothbay Absolute Return Strategies, Ari Glass, institutional investment, passive investment