SCHEDULE 13G/A: Periscope Capital and Affiliates Report Significant Stake in iCoreConnect Inc.
Beneficial Ownership Report
Periscope Capital Inc. and its affiliate, Periscope SPAC Warrant Opportunity Fund LP, have reported beneficial ownership of 5.9% and 2.0% respectively, of iCoreConnect Inc.'s common stock as of December 31, 2024.
Summary
- Periscope Capital Inc. and Periscope SPAC Warrant Opportunity Fund LP filed an Amendment No. 4 to Schedule 13G, disclosing their beneficial ownership in iCoreConnect Inc.
- Periscope Capital Inc. beneficially owns 128,875 shares of iCoreConnect Inc. common stock, representing 5.9% of the class.
- Periscope SPAC Warrant Opportunity Fund LP beneficially owns 44,700 shares of iCoreConnect Inc. common stock, representing 2.0% of the class.
- The reported percentages are based on a total of 2,201,822 shares of common stock, which includes 2,073,022 shares outstanding as of February 3, 2025 (as reported in the Issuer's Form S1 filed February 10, 2025) plus 128,800 shares obtainable from the conversion of convertible securities held by Periscope and its funds.
- Both reporting entities are based in Canada and certify that the securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.
Sentiment
Score: 5
Explanation: Neutral, as this is a standard beneficial ownership filing with no performance or strategic updates from the issuer.
Future Outlook
The document does not contain any forward-looking statements or guidance from the issuer or the reporting persons regarding future performance or strategic direction.
Industry Context
This filing is a routine beneficial ownership disclosure and does not provide specific insights into broader industry trends or competitive landscape for iCoreConnect Inc.
Stakeholder Impact
- Shareholders: Provides transparency regarding significant ownership stakes held by institutional investors, which can influence market perception and trading activity.
Key Dates
| Date | Description |
|---|---|
| 12/31/2024 | Date of event which requires the filing of this statement. |
| 02/03/2025 | Date as of which 2,073,022 shares of Common Stock were reported outstanding in the Issuer's Form S1. |
| 02/10/2025 | Date iCoreConnect Inc.'s Form S1 was filed with the SEC, reporting outstanding shares. |
| 02/11/2025 | Date of signature for the Schedule 13G filing. |
Keywords
iCoreConnect Inc, Periscope Capital Inc, Periscope SPAC Warrant Opportunity Fund LP, Schedule 13G, beneficial ownership, common stock, investment fund, SEC filing
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