Novavax shareholder Shah Capital to step back from activist role
NVAX•Shah Capital said it no longer seeks to influence control of Novavax after restructuring into a family office. The filing reported ownership of 10.54 million Novavax shares, or about 6.39%, and disclosed a sale of 2.87 million shares at an average $11.35 apiece on October 5.
1. Family office restructuring
Shah Capital said it no longer seeks to influence control of Novavax after restructuring into a family office. It filed with the U.S. Securities and Exchange Commission to voluntarily withdraw its registration as an investment adviser, and the filing said Himanshu Shah Family Office LLC was established to manage the investments.
2. Shareholdings and sale
Shah Capital reported beneficial ownership of 10.54 million Novavax shares, about 6.39% of the company. Shah Capital Fund LLC sold 2.87 million shares on October 5 at an average price of about $11.35 apiece. Himanshu Shah reported beneficial ownership of 10.66 million shares, about 6.46%.
