SCHEDULE 13G/A: Nomura Holdings Reduces Stake in Cannabist Co Holdings Below 5% Threshold

Nomura Holdings Inc. and its subsidiary, Nomura Global Financial Products Inc., have reported a reduction in their beneficial ownership of Cannabist Co Holdings Inc. common stock to 4.6%, falling below the 5% threshold.

Summary

• Nomura Holdings Inc. and its wholly-owned subsidiary, Nomura Global Financial Products Inc., collectively beneficially own 21,354,956 shares of Cannabist Co Holdings Inc. common stock.
• This ownership represents 4.6% of the total outstanding common stock of Cannabist Co Holdings Inc.
• The percentage of class is calculated based on 464,977,620 shares of Common Stock outstanding as of November 4, 2024.
• The filing is an Amendment No. 2 to a Schedule 13G, indicating a change in their previously reported beneficial ownership.
• Nomura Holdings Inc. and Nomura Global Financial Products Inc. share both voting and dispositive power over these shares.
• The shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 4

Explanation: The sentiment is slightly negative due to the reduction in beneficial ownership by a significant institutional investor, which can be perceived as a lack of conviction or a re-evaluation of the investment.

Positives

• The continued investment by a major financial institution, Nomura Holdings, in Cannabist Co Holdings Inc. indicates ongoing interest.
• The filing explicitly states that the shares are held in the ordinary course of business and not for control purposes, which can alleviate concerns about potential activist investor actions.

Negatives

• Nomura Holdings Inc. and its subsidiary have reduced their beneficial ownership in Cannabist Co Holdings Inc. to below the 5% threshold, implying a divestment of a portion of their previous holdings.

Risks

• The reduction in stake by a significant institutional investor like Nomura could be perceived negatively by the market, potentially signaling a lack of conviction or a re-evaluation of the investment in Cannabist Co Holdings Inc.

Future Outlook

This document is a disclosure of current beneficial ownership and does not contain forward-looking statements or guidance regarding the issuer's future performance or the reporting person's future investment intentions beyond the statement that shares are held in the ordinary course of business.

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

This filing reflects the ongoing portfolio adjustments by large financial institutions like Nomura Holdings within the public equity markets. As a major global financial services group, Nomura's investment decisions can be indicative of broader trends or specific sector views, though this particular filing is a routine disclosure of a change in a passive investment stake.

Stakeholder Impact

• Shareholders: May view the reduction in stake by a major institutional investor as a negative signal, potentially impacting stock price.
• Investment Professionals: Will note the change in institutional ownership as part of their analysis of Cannabist Co Holdings Inc.

Key Dates

Keywords

Nomura Holdings, Cannabist Co Holdings Inc., Schedule 13G, Beneficial Ownership, Institutional Investor, Common Stock, SEC Filing, Investment, Equity Stake