SCHEDULE 13G/A: Armistice Capital and Steven Boyd Disclose 9.99% Stake in Travere Therapeutics
Beneficial Ownership Report
Armistice Capital, LLC and Steven Boyd have filed an amended Schedule 13G, reporting a beneficial ownership of 9.99% in Travere Therapeutics, Inc.'s common stock as of March 31, 2025.
Summary
- Armistice Capital, LLC and Steven Boyd (collectively, the "Reporting Persons") have filed an Amendment No. 5 to Schedule 13G regarding their beneficial ownership in Travere Therapeutics, Inc.
- As of March 31, 2025, the Reporting Persons beneficially own 8,872,000 shares of Travere Therapeutics, Inc. common stock.
- This ownership represents 9.99% of the total outstanding common stock of Travere Therapeutics, Inc.
- The percentage is calculated based on 88,804,818 shares outstanding as of April 28, 2025, as reported in the Issuer's Form 10-Q filed on May 1, 2025.
- Armistice Capital, LLC acts as the investment manager for Armistice Capital Master Fund Ltd., which is the direct holder of the shares, exercising shared voting and dispositive power over the securities.
- Steven Boyd, as the managing member of Armistice Capital, LLC, is also deemed to beneficially own the shares.
- The filing indicates that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing (Schedule 13G) disclosing beneficial ownership. It does not contain information that would inherently convey positive or negative sentiment regarding the company's operational or financial performance.
Future Outlook
NA
Industry Context
This filing indicates a significant passive investment by an institutional fund in a biotechnology company. Such disclosures are routine for large shareholders and provide transparency into major ownership stakes, which can be of interest to other investors tracking institutional sentiment or potential activist positions, though this filing explicitly states it's not for control.
Stakeholder Impact
- Shareholders: Provides transparency on a significant institutional holding, which can influence market perception and liquidity.
- Company Management: Awareness of a large, passive shareholder.
Key Dates
| Date | Description |
|---|---|
| 02/14/2025 | Date of the Joint Filing Statement agreement. |
| 03/31/2025 | Date of event which requires filing of this statement. |
| 04/28/2025 | Date as of which 88,804,818 shares were outstanding (reported in 10-Q). |
| 05/01/2025 | Date Travere Therapeutics' Form 10-Q was filed, reporting outstanding shares. |
| 05/15/2025 | Date of filing of this Schedule 13G Amendment No. 5. |
Keywords
Travere Therapeutics, Armistice Capital, Steven Boyd, Schedule 13G, beneficial ownership, common stock, institutional investor, SEC filing, investment management, biotechnology, pharmaceutical
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