SCHEDULE: Magnetar Entities Divest Radius Recycling Shares Following $30.00 Per Share Merger Completion
Merger Completion Filing
Magnetar Financial LLC and its affiliates have reported the cancellation of their 1,637,146 shares in Radius Recycling, Inc. following the company's merger, which converted each share into $30.00 in cash.
Summary
- Radius Recycling, Inc. completed a merger on July 10, 2025, which resulted in each issued and outstanding Class A Common Stock share being cancelled and converted into the right to receive $30.00 in cash, without interest.
- Magnetar Financial LLC, Magnetar Capital Partners LP, Supernova Management LLC, and David J. Snyderman (the Reporting Persons) reported that their aggregate 1,637,146 shares were cancelled as part of this merger.
- The cancelled shares included 811,933 shares for the benefit of PRA Master Fund, 376,723 shares for Systematic Master Fund, 92,019 shares for Relative Value Master Fund, and 356,471 shares for two Managed Accounts.
- As of the merger's closing on July 11, 2025, the Reporting Persons beneficially own 0 shares of Radius Recycling, Inc.
Sentiment
Score: 5
Explanation: The document is a factual report of a completed corporate transaction (merger) and the subsequent divestment of shares by an investor group, containing no subjective language or forward-looking statements that would indicate a positive or negative sentiment.
Positives
- The Reporting Persons received $30.00 in cash per share for their 1,637,146 shares, resulting in an estimated total cash receipt of approximately $49,114,380 from the merger.
Future Outlook
No forward-looking statements or guidance are provided, as the document reports on a completed corporate action.
Industry Context
This announcement is a specific report of a completed merger transaction and does not provide information to analyze broader industry trends or competitive landscapes.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Joint Filing Agreement | The Reporting Persons entered into an agreement for the joint filing of this statement and any amendments. | 2025-07-14 | Facilitates compliance with SEC reporting requirements for the group. |
| Limited Power of Attorney | David J. Snyderman granted a limited power of attorney to specific individuals to execute SEC filings on his behalf. | 2022-12-22 | Streamlines the process for filing required SEC documents for Mr. Snyderman and related entities. |
Stakeholder Impact
- Shareholders of Radius Recycling, Inc., including the Reporting Persons, had their Class A Common Stock shares converted into $30.00 cash per share as a result of the merger.
Key Dates
| Date | Description |
|---|---|
| 2022-12-22 | Date of Limited Power of Attorney granted by David J. Snyderman. |
| 2025-04-16 | Date of previous Schedule D filing. |
| 2025-07-10 | Merger of Radius Recycling, Inc. consummated. |
| 2025-07-11 | Closing date of the merger, resulting in 0 beneficial shares for Reporting Persons. |
| 2025-07-14 | Date of Joint Filing Agreement among Reporting Persons and filing date of this Schedule 13D Amendment No. 1. |
Keywords
Radius Recycling, Merger, Schedule 13D, Beneficial Ownership, Magnetar Financial LLC, Cash Payout, Corporate Action, Investment Funds
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