These disclosures are from 13Ds filed with the Securities and Exchange Commission. 13Ds are filed within 10 days of an entity's attaining more than 5% in any class of a company's securities. Subsequent changes in holdings or intentions must be reported in amended filings. This material is from Oct. 27 through Nov. 2, 2022. Source: VerityData

Activist Holdings

Apartment Investment and Management $(AIV)$ Land & Buildings Investment Management reported a stake of 8,806,573 shares in the real estate developer, equal to 5.8% of the outstanding stock. Land & Buildings Investment revealed that it plans to nominate two directors for approval at Apartment Investment's 2022 shareholder meeting, scheduled for Dec. 16. Land & Buildings Investment is seeking representation, alleging missteps, including the taxable spinoff of 90% of Apartment Investment's assets into Apartment Income REIT $(AIRC)$ in September 2020 before a special shareholders' meeting could be called. Land & Buildings believes that the spinoff was a "reset" to make up for Apartment Investment's underperformance over the past several years. Land & Buildings believes that a reconstituted board is necessary to improve shareholder engagement and initiate a strategic review, "including options for monetizing all or part" of Apartment Investment, or Aimco, through a sale. In a Nov. 1 regulatory filing, Apartment Investment noted, "We believe that a vote for Land & Buildings could harm Aimco and the value of your investment. It is important that you vote and protect the future of the company and the value of your investment."

Increases in Holdings

Gemini Therapeutics $(GMTX)$ Adage Capital Partners raised its stake in the clinical-stage pharmaceutical firm to 3,500,620 shares. Adage bought 1,000,620 Gemini shares at per share prices ranging from $1.66 to $2 from Oct. 13 through 26. That includes 961,133 shares purchased on Oct. 25 at an approximate cost of $1.98 each. Though Adage cited no reason for the fresh investment, Gemini entered into an all-stock reverse merger with Disc Medicine, announced on Aug. 10. Disc Medicine shareholders will control nearly three-quarters of the combined company, which will take the Disc Medicine name and trade under the ticker symbol IRON. The deal is expected to close by year end.

Decreases in Holdings

Hill International $(HIL)$ Engine Capital cut its interest in the construction-services company to 3,790,018 shares, inclusive of 244,365 shares that underlie deferred equity compensation owned by managing partner Arnaud Ajdler, who served on Hill's board. From Oct. 19 to Nov. 1, Engine sold 2,009,603 Hill shares at prices ranging from $3.37 to $3.60 apiece. Engine now holds a 6.6% interest in Hill. On Aug. 29, the construction services firm agreed to be acquired by Global Infrastructure Solutions for $3.40 per share. At that time, Engine signed a cooperation agreement with Hill and Global Infrastructure to vote its shares in favor of the merger, which is expected to close by the end of the year. Ajdler resigned from Hill's board effective on Sept. 25.

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(END) Dow Jones Newswires

November 04, 2022 18:39 ET (22:39 GMT)

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