SCHEDULE: Glazer Capital Discloses 5.3% Stake in HarborOne Bancorp

Glazer Capital, LLC and Paul J. Glazer have disclosed a passive beneficial ownership of 5.30% of HarborOne Bancorp, Inc.'s common stock.

Summary

• Glazer Capital, LLC and its managing member, Paul J. Glazer, collectively reported beneficial ownership of 2,283,877 shares of HarborOne Bancorp, Inc. common stock.
• This ownership represents 5.30% of the outstanding common stock of HarborOne Bancorp, Inc.
• The shares are held by certain funds and managed accounts for which Glazer Capital serves as investment manager.
• The reporting persons have shared voting power and shared dispositive power over all 2,283,877 shares.
• The filing is made under Rule 13d-1(b), indicating a passive investment purpose, not for changing or influencing control of the issuer, except for activities solely related to director nominations under Rule 14a-11.

Sentiment

Score: 6

Explanation: The filing is a factual disclosure of a significant passive ownership stake. While not directly impacting operational performance, the presence of a notable institutional investor can be viewed as a neutral to slightly positive signal of market interest and potential confidence in the issuer.

Positives

• The disclosure of a significant stake by an institutional investor like Glazer Capital may signal confidence in HarborOne Bancorp, Inc.'s valuation or future prospects.

Negatives

• This filing, a Schedule 13G, is a disclosure of beneficial ownership and does not inherently contain negative operational or financial information about the issuer.

Risks

• This filing, a Schedule 13G, is a disclosure of beneficial ownership and does not inherently detail specific risks related to the issuer's operations or financial performance.

Future Outlook

This Schedule 13G filing is a disclosure of beneficial ownership and does not contain forward-looking statements or guidance regarding HarborOne Bancorp, Inc.'s future performance or strategic outlook.

Management Comments

• Glazer Capital, LLC and Paul J. Glazer certified 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 HarborOne Bancorp, Inc., nor in connection with any transaction having that purpose or effect, other than activities solely in connection with a nomination under Rule 14a-11.

Industry Context

The disclosure of a significant stake by an investment firm in a regional bank like HarborOne Bancorp, Inc. is a common occurrence in the financial services sector, where institutional investors frequently take positions in publicly traded companies. This particular filing indicates a passive investment, which is typical for Schedule 13G filers.

Comparison to Industry Standards

• This filing is a standard Schedule 13G, which is a common disclosure for institutional investors acquiring more than 5% of a company's stock with a passive intent. It aligns with regulatory requirements for transparency in beneficial ownership.
• The 5.30% stake is a notable position, placing Glazer Capital among the significant institutional holders of HarborOne Bancorp, Inc., similar to other investment firms that hold substantial, but non-controlling, interests in regional banks like Eastern Bankshares, Inc. or Berkshire Hills Bancorp, Inc.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional investor's stake may influence market perception and potentially share price, signaling increased institutional interest in HarborOne Bancorp, Inc.

Key Dates

Keywords

HarborOne Bancorp, Glazer Capital, Paul J. Glazer, Beneficial Ownership, SEC Filing, Schedule 13G, Common Stock, Institutional Investor, Banking, Financial Services