KORE.NYSEKore Group Holdings, INC
SCHEDULE: Goldman Sachs Discloses 4.9% Stake in KORE Group
Sentiment:
Beneficial Ownership Report
The Goldman Sachs Group and its affiliate have reported a 4.9% beneficial ownership stake in KORE Group Holdings, Inc. common stock.
Summary
- The Goldman Sachs Group, Inc. and its subsidiary, Goldman Sachs & Co. LLC, jointly reported beneficial ownership of 849,172 shares of KORE Group Holdings, Inc. Common Stock.
- This ownership represents 4.9% of the outstanding class of KORE Group Holdings, Inc. Common Stock.
- The reporting entities hold shared voting power and shared dispositive power over all 849,172 shares.
- The shares were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.
- The filing is an Amendment No. 1 to a Schedule 13G, indicating a previous filing existed.
Sentiment
Score: 6
Explanation: The filing is a factual disclosure of beneficial ownership by a major financial institution. While it doesn't contain explicit positive or negative operational news, the presence of a significant institutional holder can be interpreted as a positive signal of interest or validation for the issuer.
Positives
- A significant institutional investor, The Goldman Sachs Group, Inc., holds a substantial stake (4.9%) in KORE Group Holdings, Inc., which may be viewed as a vote of confidence or an indicator of institutional interest in the company.
Future Outlook
NA
Management Comments
- "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."
Industry Context
NA
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Attorney-in-fact (for SEC filings) | Papa Lette, Akash Keshari, Regina Chan, Andrzej Szyszka, Ameen Soetan, Rahail Patel, Santosh Vinayagamoorthy, Sadhiya Raffique, Matthew Pomfret, Abhishek Vishwanathan, Mariana Audeves, Veronica Mupazviriwo, Elizabeth Novak and Sam Prashanth (for The Goldman Sachs Group, Inc.) | Sadhiya Raffique, Santosh Vinayagamoorthy, D Guru Prasad, Tobi Amusan, Akash Keshari, Papa Lette, Andrzej Szyszka, Rahail Patel, Taiki Misu, Regina Chan, Mariana Audeves Martinez, Asheesh Bajaj, Abhilasha Bareja, Veronica Mupazviriwo, Sam Prashanth, Ameen Soetan, Abhishek Vishwanathan, Elizabeth Novak and Matthew Pomfret (for The Goldman Sachs Group, Inc.) | 2025-07-16 | Superseded previous Power of Attorney dated July 29, 2024, adding new authorized individuals. |
| Attorney-in-fact (for SEC filings) | Papa Lette, Akash Keshari, Regina Chan, Andrzej Szyszka, Ameen Soetan, Rahail Patel, Santosh Vinayagamoorthy, Sadhiya Raffique, Matthew Pomfret, Abhishek Vishwanathan, Mariana Audeves Martinez, Veronica Mupazviriwo, Elizabeth Novak and Sam Prashanth (for Goldman Sachs & Co. LLC) | Sadhiya Raffique, Santosh Vinayagamoorthy, D Guru Prasad, Tobi Amusan, Akash Keshari, Papa Lette, Andrzej Szyszka, Rahail Patel, Taiki Misu, Regina Chan, Mariana Audeves Martinez, Asheesh Bajaj, Abhilasha Bareja, Veronica Mupazviriwo, Sam Prashanth, Ameen Soetan, Abhishek Vishwanathan, Elizabeth Novak and Matthew Pomfret (for Goldman Sachs & Co. LLC) | 2025-07-16 | Superseded previous Power of Attorney dated October 1, 2024, adding new authorized individuals. |
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Beneficial Ownership Disclosure | The filing is made pursuant to Rule 13d-1(b), indicating that the reporting persons are institutional investors (parent holding company and broker/dealer/investment adviser) who acquired the securities in the ordinary course of business and not with the purpose or effect of changing or influencing control of the issuer. | 2025-06-30 | Provides transparency regarding significant institutional holdings, assuring the market that the stake is passive and not intended for corporate control. |
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant institutional holding, which may influence investor sentiment and perception of the company's institutional backing.
Key Dates
| Date | Description |
|---|---|
| 2024-07-29 | Previous Power of Attorney granted by The Goldman Sachs Group, Inc. was superseded. |
| 2024-10-01 | Previous Power of Attorney granted by Goldman Sachs & Co. LLC was superseded. |
| 2025-06-30 | Date of event which required the filing of this statement. |
| 2025-07-16 | Date of execution for the new Power of Attorney for both The Goldman Sachs Group, Inc. and Goldman Sachs & Co. LLC. |
| 2025-07-17 | Date of filing and signature for the Schedule 13G statement. |
| 2026-07-16 | Expiration date of the current Power of Attorney, unless earlier revoked. |
Keywords
KORE Group Holdings, Goldman Sachs, Beneficial Ownership, Schedule 13G, Common Stock, Institutional Investment, SEC Filing
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