Glazer Capital Reports 5% Utz Brands Stake, 4,446,531 Shares, In SEC Filing
The New York manager filed a passive ownership disclosure and certified it holds the shares without aiming to influence control.
Glazer Capital and its managing member, Paul J. Glazer, reported owning 4,446,531 shares of Utz Brands common stock, or 5% of the class, in a Schedule 13G passive ownership disclosure filed Friday. The event date listed is October 2.
What the filing says
Both reporting persons list the same position: 4,446,531 shares, 5% of the class. All of it carries shared voting power, and sole voting power is zero.
The filing classes Glazer Capital, LLC, a Delaware limited liability company, as an investment adviser. Paul J. Glazer, who is the managing member of Glazer Capital, is listed as an individual.
The shares are held by funds and managed accounts for which Glazer Capital serves as investment manager. The filing says it should not be read as an admission that either reporting person is the beneficial owner of the shares for purposes of Section 13 of the securities law. Both list a business address at 250 West 55th Street in New York.
What it changes
The filing is a passive disclosure. In it, the signer certifies that the shares were not acquired and are not held to change or influence control of Utz, or in connection with any transaction with that purpose.
Utz shares closed at $14.30 at Friday's close, down 0.14% from the prior session, for a market value of $1.3 billion (market data). The filing carries no link to that move.
The filing lists Utz's address as 900 High Street, Hanover, Pennsylvania, and the stake sits entirely in shared-voting shares held through the Glazer funds.
