SCHEDULE 13G/A: Coliseum Capital Entities Disclose Significant Passive Stake in Sonos, Inc.
Beneficial Ownership Disclosure
Coliseum Capital Management, LLC and its affiliates, along with Adam Gray and Christopher Shackelton, have filed an amended Schedule 13G disclosing a passive beneficial ownership of 9.6% in Sonos, Inc.'s common stock as of December 31, 2024.
Summary
- Coliseum Capital Management, LLC (CCM) and its principals, Adam Gray and Christopher Shackelton, collectively beneficially own 11,445,192 shares of Sonos, Inc. common stock, representing 9.6% of the class.
- Coliseum Capital, LLC (CC) and Coliseum Capital Partners, L.P. (CCP) each beneficially own 9,251,455 shares, representing 7.8% of the class.
- The ownership percentages are calculated based on 119,082,663 shares of Sonos, Inc. common stock outstanding as of January 25, 2025, as reported in the Issuer's Form 10-Q filed on February 6, 2025.
- The Reporting Persons (CCM, CC, CCP, Adam Gray, and Christopher Shackelton) share voting and dispositive power over their respective reported shares.
- CCM acts as the investment adviser to CCP, an investment limited partnership, and also manages a separate account.
- CC is the General Partner of CCP, while Adam Gray and Christopher Shackelton are the managers of both CC and CCM.
- The shares are not acquired or held for the purpose of changing or influencing the control of Sonos, Inc., other than activities solely in connection with a nomination under Rule 14a-11.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership, which is neutral in sentiment. It does not contain performance data, forward-looking statements, or qualitative assessments that would indicate positive or negative sentiment.
Future Outlook
NA
Industry Context
This filing indicates a significant passive investment by Coliseum Capital entities in Sonos, Inc., a company known for its audio products. Such disclosures are common for institutional investors accumulating stakes in publicly traded companies, reflecting their investment strategies rather than broader industry trends.
Related Party Transactions
- Coliseum Capital Management, LLC (CCM) is the investment adviser to Coliseum Capital Partners, L.P. (CCP).
- Coliseum Capital, LLC (CC) is the General Partner of CCP.
- Adam Gray and Christopher Shackelton are the managers of both CC and CCM, and are deemed to be members of a group with respect to the Common Stock owned by CCP and a separate account managed by CCM.
Stakeholder Impact
- Shareholders: The disclosure of a significant passive stake by an institutional investor like Coliseum Capital could be viewed positively, indicating confidence in the company's long-term value, though the filing explicitly states the shares are not held for control purposes.
Key Dates
| Date | Description |
|---|---|
| 2024-12-31 | Date of event which requires the filing of this statement (beneficial ownership calculation date). |
| 2025-01-25 | Date as of which Sonos, Inc. reported 119,082,663 shares of Common Stock issued and outstanding in its Quarterly Report on Form 10-Q. |
| 2025-02-06 | Date Sonos, Inc. filed its Quarterly Report on Form 10-Q with the SEC. |
| 2025-02-14 | Date of filing of this Schedule 13G Amendment No. 1. |
Keywords
Sonos Inc., Coliseum Capital Management, Schedule 13G, Beneficial Ownership, Passive Investment, Common Stock, SEC Filing, Institutional Investor, Investment Adviser
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