SCHEDULE 13G: Armistice Capital Discloses 9.99% Stake in Quoin Pharmaceuticals
Beneficial Ownership Disclosure
Armistice Capital, LLC and its managing member Steven Boyd have disclosed a beneficial ownership of 9.99% in Quoin Pharmaceuticals, Ltd. as of December 31, 2024.
Summary
- Armistice Capital, LLC and Steven Boyd, collectively referred to as the 'Reporting Persons,' have filed a Schedule 13G indicating beneficial ownership in Quoin Pharmaceuticals, Ltd.
- As of December 31, 2024, the Reporting Persons beneficially own an aggregate of 934,312 American Depositary Shares (ADS) of Quoin Pharmaceuticals, Ltd.
- This ownership represents 9.99% of the total outstanding class of securities.
- Armistice Capital, LLC, a Delaware entity, is classified as an investment adviser (IA) and other (OO) type of reporting person.
- Steven Boyd, a U.S. citizen, is classified as a holding company (HC) and individual (IN) type of reporting person.
- The shares are held by Armistice Capital Master Fund Ltd., an investment advisory client of Armistice Capital, which exercises shared voting and dispositive power over these securities.
Sentiment
Score: 7
Explanation: The disclosure of a significant 9.99% stake by a reputable institutional investor like Armistice Capital is generally viewed as a positive sign of confidence in the company, even if it's a passive investment. It provides transparency regarding the shareholder base.
Positives
- The disclosure of a significant 9.99% stake by an institutional investor like Armistice Capital may signal confidence in Quoin Pharmaceuticals, Ltd.'s future prospects.
- The filing indicates a passive investment, suggesting a long-term interest rather than an activist intent.
Future Outlook
NA
Industry Context
This filing is a routine disclosure of a significant passive stake by an institutional investor in a publicly traded pharmaceutical company. Such disclosures provide transparency regarding major shareholders and can sometimes indicate investor sentiment towards the sector or specific companies.
Related Party Transactions
- Armistice Capital Master Fund Ltd., a Cayman Islands exempted company, is an investment advisory client of Armistice Capital, LLC and has the right to receive dividends from, or proceeds from the sale of, the reported securities.
Stakeholder Impact
- Shareholders gain transparency regarding the significant institutional holders of Quoin Pharmaceuticals' stock, which can influence market perception and trading activity.
- The company's management gains insight into its major shareholder base and the passive nature of this significant stake.
Key Dates
| Date | Description |
|---|---|
| 12/31/2024 | Date of the event which required the filing of this statement, representing the snapshot of beneficial ownership. |
| 02/14/2025 | Date the Schedule 13G statement was signed and filed with the SEC. |
Keywords
Quoin Pharmaceuticals, Armistice Capital, Steven Boyd, Schedule 13G, Beneficial Ownership, Institutional Ownership, QNRX, American Depositary Shares, Investment Adviser
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