Form 4: Raine Group Entities Acquire 700,000 Shares of Olo Inc. Class A Common Stock

Raine Group entities acquired 700,000 shares of Olo Inc. Class A Common Stock through a conversion of Class B Common Stock, increasing their indirect holdings.

Summary

• RPII Order LLC, along with several related Raine Group entities, acquired 700,000 shares of Olo Inc. Class A Common Stock on December 6, 2024.
• This acquisition resulted from the conversion of 700,000 shares of Class B Common Stock into Class A Common Stock.
• The transaction did not involve any monetary exchange, with the price per share listed as $0.
• Following the transaction, the Raine Group entities indirectly beneficially own a total of 2,100,000 shares of Class A Common Stock.
• The report also notes indirect beneficial ownership of additional shares held by board members Brandon Gardner and Colin Neville, as well as Raine Associates II LP.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to share conversion and ownership changes. It is neither particularly positive nor negative, but indicates continued involvement by a major shareholder.

Positives

• The conversion of Class B shares to Class A shares simplifies the capital structure.
• The increased holdings by Raine Group entities could signal confidence in Olo Inc.'s future prospects.

Risks

• The complex ownership structure of the Raine Group entities could make it difficult to track the ultimate beneficial owners.
• The disclaimer of beneficial ownership by the reporting persons, except for their pecuniary interest, adds a layer of complexity.

Industry Context

This transaction is a routine filing related to changes in beneficial ownership and is not indicative of any specific industry trend or competitive activity. It reflects internal changes within the ownership structure of a major shareholder.

Comparison to Industry Standards

• Form 4 filings are standard practice for reporting changes in beneficial ownership by insiders of publicly traded companies.
• The complex ownership structure involving multiple entities is not uncommon for private equity and investment firms like Raine Group.
• The conversion of Class B to Class A shares is a common mechanism for simplifying capital structures and is often seen in companies with dual-class share structures.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders, as it is an internal share conversion within a major shareholder group.
• The increased holdings by Raine Group entities could be viewed positively by shareholders as a sign of confidence.

Key Dates

Keywords

Olo Inc., Raine Group, Class A Common Stock, Class B Common Stock, Beneficial Ownership, SEC Form 4, Share Conversion, RPII Order LLC