SCHEDULE 13G/A: DS Private Equity and Affiliates Reduce Stake in NuScale Power to 3.65%
Beneficial Ownership Amendment
DS Private Equity Co., Ltd., DS Asset Management Co., Ltd., and Dok Soo Jang have significantly reduced their beneficial ownership in NuScale Power Corp., now holding 3.65% of Class A Common Stock as of December 31, 2024, following substantial share sales throughout the year.
Summary
- DS Private Equity Co., Ltd., DS Asset Management Co., Ltd., and Dok Soo Jang (collectively, the "Reporting Persons") have filed an Amendment No. 2 to their Schedule 13G, disclosing their beneficial ownership in NuScale Power Corp.
- As of December 31, 2024, DS Private Equity and Dok Soo Jang each beneficially own 3,690,720 shares of NuScale Power's Class A Common Stock, representing 3.65% of the outstanding shares.
- DS Asset Management Co., Ltd. reported 0 shares beneficially owned as of the same date.
- The percentage ownership is calculated based on 101,097,113 shares of Class A Common Stock outstanding as of November 4, 2024, as reported in NuScale Power's Form 10-Q filed on November 8, 2024.
- Dok Soo Jang holds a controlling interest in both DS Private Equity (60%) and DS Asset Management (87.6%), leading to shared voting and dispositive power over the shares held by DS Private Equity.
- During the calendar year ended December 31, 2024, DS Private Equity sold a total of 1,519,280 shares of Class A common stock across four transactions.
- During the calendar year ended December 31, 2024, DS Asset Management sold a total of 2,749,656 shares of Class A common stock across seventeen transactions.
- The Reporting Persons certify that the securities were not acquired or held for the purpose of changing or influencing the control of NuScale Power Corp.
Sentiment
Score: 4
Explanation: The sentiment is slightly negative due to the significant divestment of shares by the reporting entities, indicating a reduction in their stake and potentially a lack of continued confidence in the issuer. However, it is a routine ownership disclosure, not a direct negative announcement from the company itself.
Negatives
- The reporting entities, DS Private Equity and DS Asset Management, engaged in significant sales of NuScale Power Class A common stock throughout 2024, indicating a reduction in their investment and potentially a decrease in confidence.
- DS Asset Management Co., Ltd. has divested all its holdings, reporting 0% beneficial ownership as of December 31, 2024.
Risks
- The significant reduction in ownership by institutional investors like DS Private Equity and DS Asset Management could signal a lack of long-term confidence in NuScale Power's future performance, potentially influencing other investors' perceptions.
- The disclaimer by reporting persons that the filing is not an admission of beneficial ownership for Section 13 purposes, except to the extent of pecuniary interest, highlights the complex nature of beneficial ownership reporting.
Future Outlook
This Schedule 13G filing does not contain any forward-looking statements or guidance regarding NuScale Power Corp.'s future outlook.
Industry Context
This filing reflects a change in institutional ownership for NuScale Power Corp., a company operating in the nuclear power and small modular reactor (SMR) industry. While the filing itself does not provide industry-specific context, significant divestment by an institutional investor could be interpreted by the market as a reaction to broader industry trends, company-specific developments, or a re-evaluation of investment strategy within the energy sector.
Stakeholder Impact
- Shareholders: The reduction in institutional ownership could lead to increased selling pressure on the stock or a negative perception of the company's prospects, potentially impacting share price.
- Investors: Provides updated information on significant ownership changes, which is crucial for investment decisions and understanding institutional sentiment towards NuScale Power.
Key Dates
| Date | Description |
|---|---|
| 2022-05-13 | Original Schedule 13G filing date. |
| 2022-12-31 | Amendment No. 1 to Schedule 13G filed. |
| 2024-03-19 | DS Asset Management sold 2,864 shares of Class A common stock. |
| 2024-05-07 | Date of event which requires filing of this statement (as per original filing, though the document states 12/31/2024 for this amendment). |
| 2024-06-25 | DS Asset Management sold 100,000 shares of Class A common stock. |
| 2024-06-26 | DS Asset Management sold 100,000 shares of Class A common stock. |
| 2024-07-05 | DS Private Equity sold 90,000 shares of Class A common stock. |
| 2024-07-12 | DS Asset Management sold 56,000 shares of Class A common stock. |
| 2024-09-12 | DS Asset Management sold 90,000 shares of Class A common stock. |
| 2024-09-13 | DS Asset Management sold 100,000 shares of Class A common stock. |
| 2024-10-17 | DS Asset Management sold 250,000 shares of Class A common stock. |
| 2024-10-18 | DS Asset Management sold 245,792 shares of Class A common stock. |
| 2024-10-24 | DS Asset Management sold 250,000 shares of Class A common stock. |
| 2024-10-25 | DS Asset Management sold 100,000 shares of Class A common stock. |
| 2024-10-28 | DS Asset Management sold 195,000 shares of Class A common stock. |
| 2024-10-29 | DS Asset Management sold 150,000 shares of Class A common stock. |
| 2024-11-04 | Date as of which 101,097,113 shares of Class A Common Stock of NuScale Power Corporation were outstanding, as reported in the Issuer's Form 10-Q. |
| 2024-11-08 | Date NuScale Power's Form 10-Q was filed, reporting outstanding shares as of November 4, 2024. |
| 2024-11-19 | DS Private Equity sold 789,339 shares of Class A common stock. |
| 2024-11-22 | DS Asset Management sold 100,000 shares of Class A common stock. |
| 2024-11-26 | DS Private Equity sold 39,941 shares of Class A common stock; DS Asset Management sold 130,000 shares of Class A common stock. |
| 2024-11-27 | DS Asset Management sold 70,000 shares of Class A common stock. |
| 2024-11-29 | DS Private Equity sold 600,000 shares of Class A common stock; DS Asset Management sold 50,000 shares of Class A common stock. |
| 2024-12-02 | DS Asset Management sold 200,000 shares of Class A common stock. |
| 2024-12-31 | Date of event which requires filing of this statement (for this Amendment No. 2). |
| 2025-01-02 | Signature date for DS Private Equity Co., Ltd., DS Asset Management Co., Ltd., and Dok Soo Jang on the Schedule 13G/A filing. |
Keywords
NuScale Power Corp, SEC filing, Schedule 13G, beneficial ownership, Class A Common Stock, institutional investor, share sales, DS Private Equity, DS Asset Management, Dok Soo Jang, nuclear power, small modular reactors
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