Form 4: Davidson Kempner Sells 25.8 Million Shares of Trinity Place Holdings to Steel Partners Affiliate

Davidson Kempner Capital Management LP, through its affiliate TPHS Lender LLC, has agreed to sell 25,862,245 shares of Trinity Place Holdings Inc. (TPHS) common stock to Steel IP Investments, LLC for $2,586,200.

Summary

• Davidson Kempner Capital Management LP, along with related entities and individuals, filed a Form 4 disclosing a transaction involving Trinity Place Holdings Inc. (TPHS).
• TPHS Lender LLC, an affiliate of Davidson Kempner, entered into a Stock Purchase Agreement on February 5, 2025, to sell 25,862,245 shares of TPHS common stock to Steel IP Investments, LLC, an affiliate of Steel Partners Holdings L.P.
• The aggregate consideration for the sale is $2,586,200.
• The sale is subject to customary closing conditions and is expected to close upon satisfaction of these conditions.
• Anthony A. Yoseloff, as Executive Managing Member of various entities within the Davidson Kempner structure, is responsible for the voting and investment decisions related to the securities held by TPHS Lender.

Sentiment

Score: 5

Explanation: Neutral sentiment as it reports a transaction without expressing positive or negative views.

Future Outlook

The sale of shares is expected to close upon the satisfaction of certain closing conditions, as described in the Current Report on Form 8-K filed by the Issuer with the Securities and Exchange Commission on February 5, 2025.

Industry Context

This transaction reflects investment firms adjusting their positions in real estate holdings, potentially influenced by market conditions and strategic investment decisions.

Stakeholder Impact

• Shareholders may react to the change in ownership structure.
• The transaction could impact the company's stock price.

Next Steps

• Satisfaction of closing conditions for the sale of shares.
• Finalization of the transaction between TPHS Lender and Steel IP Investments, LLC.

Key Dates

Keywords

Trinity Place Holdings, TPHS, Davidson Kempner, Steel Partners, Stock Purchase Agreement, Sale of Shares, Form 4, Beneficial Ownership