Form 4: Legion Partners Increases Stake in Lifecore Biomedical Through Stock Purchase

Legion Partners and related entities acquired additional shares of Lifecore Biomedical at $4.10 per share, increasing their beneficial ownership.

Summary

• Legion Partners and affiliated entities, including Christopher S. Kiper and Raymond White, filed a Form 4 detailing changes in their beneficial ownership of Lifecore Biomedical, Inc.
• On October 3, 2024, these entities purchased 1,311,312 shares and 152,102 shares of Lifecore Biomedical common stock at a price of $4.10 per share.
• The purchases were made pursuant to a securities purchase agreement between Lifecore Biomedical and Legion Partners I, Legion Partners II, and other unaffiliated investors.
• Christopher S. Kiper, a director of Lifecore Biomedical, holds 58,069 restricted stock units (RSUs) and Legion Partners Holdings, LLC holds 200 shares.
• After the reported transactions, Legion Partners I beneficially owns 4,084,268 shares, Legion Partners II beneficially owns 319,286 shares, and Legion Partners Holdings, LLC beneficially owns 200 shares.
• The reporting persons disclaim beneficial ownership of the securities reported except to the extent of their pecuniary interest.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a standard disclosure of stock purchases. The increased stake could be viewed positively, but it's not definitively bullish.

Positives

• Legion Partners' increased investment in Lifecore Biomedical could be seen as a sign of confidence in the company's future prospects.

Industry Context

Form 4 filings are standard disclosures required by the SEC when insiders or significant shareholders of a publicly traded company buy or sell shares. This filing indicates changes in the ownership structure of Lifecore Biomedical.

Stakeholder Impact

• The increased stake by Legion Partners could reassure shareholders about the company's direction.

Key Dates