Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Viex Capital Advisors, an activist investor in Immersion Corp. (NASDAQ:IMMR), made a 13D filing Tuesday with the Securities and Exchange Commission indicating that its stake in the company is an active one.
What Happened
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Viex filed a 13G form May 31, but this was changed to a 13D Tuesday.
The schedule 13G is an alternative SEC filing for the 13D that must be filed by anyone who acquires ownership in a public company of more than 5 percent of the outstanding stock.
The 13G filing indicates a "passive" investment by a firm and the 13D filing indicates a more "active" stake by the firm.
Viex said in the filing that it believes Immersion shares are "materially undervalued," adding that recent management changes at the company and licensing agreements with Sony Corp (NYSE:SNE) and Samsung Electronics Co Ltd (OTC:SSNLF) are "positive developments."
FREE REPORT: How To Learn Options Trading Fast
In this special report, you will learn the four best strategies for trading options, how to stay safe as a complete beginner, a 411% trade case study, PLUS how to access two new potential winning options trades starting today.Claim Your Free Report Here.
" ... In order for the full value of the shares to be realized, significant and immediate improvements to the issuer’s corporate governance, cost structure and capital allocation are required," Viex said. "In particular, the reporting persons believe that direct stockholder representation on the issuer’s board of directors is essential to maximizing stockholder value."
Why It's Important
Today’s filing showed a raised stake compared to the 13G filing from mid-March, when the firm had a 6.1-percent stake (1.878 million shares) and the same stake as what was disclosed in the May 29 filing.
As far back as 2017, Viex Capital Advisors have been influencing operations and management at Immersion and back then the group reached an agreement.
Immersion shares were trading up by 1.18 percent to $7.69 at the time of publication Tuesday.
Related Links:
Immersion Appoints Jared Smith as Vice President of Worldwide Sales
Immersion Reaches 3,500 Issued and Pending Haptics Patents
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.