Form 4: Koru Medical Systems Director and 10% Owner Reports Large Share Transfers

Joseph M. Manko Jr., a director and 10% owner of Koru Medical Systems, reported a series of share transfers involving Horton Capital entities, resulting in a net change in his direct and indirect holdings.

Summary

• On January 21, 2025, Horton Capital Partners Fund, L.P. (HCPF) distributed 1,000,000 shares of Koru Medical Systems common stock to its limited partners, including Horton Capital Partners, LLC (HCP).
• HCP then distributed these 1,000,000 shares to its members, including Joseph M. Manko Jr.
• Joseph M. Manko Jr. also received 351,948 shares directly.
• These transactions resulted in a net change in the beneficial ownership of Koru Medical Systems shares for Mr. Manko and related entities.
• The reporting entities disclaim beneficial ownership of the securities except to the extent of their direct pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing and does not contain any information that would be considered positive or negative from an investment perspective. It is a neutral event.

Risks

• The complex structure of the share transfers involving multiple entities could make it difficult to track the ultimate beneficial ownership of the shares.
• The disclaimer of beneficial ownership by the reporting entities could create uncertainty about the true control of the shares.

Management Comments

• Each Reporting Person disclaims beneficial ownership of the securities of the Issuer reported herein except to the extent of his or its direct pecuniary interest therein.

Industry Context

This type of filing is common for company insiders who are required to report changes in their beneficial ownership of company stock. It is a routine part of regulatory compliance.

Comparison to Industry Standards

• Form 4 filings are a standard requirement for insiders of publicly traded companies in the United States.
• The complexity of the transactions involving multiple entities is not uncommon for investment firms and funds.
• The disclaimer of beneficial ownership is a standard practice to avoid unintended legal implications.

Stakeholder Impact

• The share transfers may have a minor impact on the overall shareholder base, but the disclaimer of beneficial ownership suggests no significant change in control.
• The transactions are unlikely to have a direct impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

Koru Medical Systems, share transfer, beneficial ownership, Horton Capital Partners, Joseph M. Manko Jr., in-kind distribution, Form 4, SEC filing