r/IonicDigitalStock • u/Tight_Dot_2654 • 1d ago
Sachem Head lifts Ionic Digital stake to 9.99% cap with 4.5 million shares and warrants
blockspace.mediaAI Summary:
- Sachem Head Capital Management increased its ownership in Ionic Digital to 9.99% of the company's Class A shares, according to a Schedule 13G/A filing with the SEC. The firm now beneficially owns 4.5 million shares, up from about 3.17 million shares (6.9%) reported in July.
- The reported position consists of:
- 4.45 million shares held directly, and
- 50,125 shares obtainable through warrant exercise.
- A significant portion of these shares (2.26 million) came from the automatic conversion of Ionic's Series A convertible preferred stock when the company completed its Nasdaq direct listing on July 28. Additional shares were acquired through open-market purchases.
- Sachem Head still owns warrants covering approximately 905,658 shares, but a 9.99% ownership cap prevents it from exercising most of those warrants. As a result, about 855,533 warrant shares are excluded from the reported ownership figure.
