Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

CSW Industrials Inc (CSWI): Newtyn Management Withdraws Board Nominee, Cuts Stake

Page 1 of 14

Noah Levy And Eugene Dozortsev have put the brakes on their activist efforts with regard to CSW Industrials Inc (NASDAQ:CSWI). According to a recently amended filing with the Securities and Exchange Commission, their fund, Newtyn Management, has withdrawn its nominee for election to the company’s board of directors and has thrown its full support behind the Board’s nominee. The filing also shows a slight decrease in Newtyn’s holding of the stock to 1.28 million shares, down from 1.35 million shares reported in its latest 13F filing. The current position accounts for 8.2% of CSW Industrials’ common stock.

gas, fuel, handsome, manual, technician, glasses, coveralls, hat, machinery, red, valve, pipeline, pump, field, jack, crude, drilling, engineer, black, technology, smiling,

Zorandim/Shutterstock.com

According to the agreement between CSW Industrials Inc (NASDAQ:CSWI) Newtyn Management, in exchange for dropping its nomination, the fund will play a major role in the choosing of one of the two new directors to be added to the fold. The Board has also promised to analyze the possibility of a share buyback program but has reserved discretion with regard to the terms of the program. A diversified industrial company with a global presence, CSW Industrials has seen its stock slide by 26% during the first two months of 2016, before slowly regaining some of the lost ground. The stock has finished Monday’s trading session at $34.49 per share, down by 8.7% for the year.

At the end of the first quarter, roughly 21% of CSW Industrials Inc (NASDAQ:CSWI) common stock was held by 13 top hedge fund, unchanged from the previous quarter. Michael M. Rothenberg‘s Moab Capital Partners was betting big on this stock, the positions representing roughly 15% of its equity portfolio. According to its latest 13F filing, the fund held 1.36 million shares of CSW Industrials. Martin Whitman‘s Third Avenue Management was also invested, having amassed 150,348 shares by the end of March, a position initiated during the quarter.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Newtyn Partners 609 873,800 609 873,800 873,800 5.6%
Newtyn TE Partners 411,200 411,200 411,200 2.6%
Newtyn Management 1,285,000 1,285,000 1,285,000 8.2%
Newtyn Capital Partners 1,285,000 1,285,000 1,285,000 8.2%
Ledo Capital 1,285,000 1,285,000 1,285,000 8.2%
Noah Levy 1,285,000 1,285,000 1,285,609 8.2%
Noah Levy And Eugene Dozortsev
Noah Levy And Eugene Dozortsev
Newtyn Management

Page 1 of 14 – SEC Filing

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO § 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
§ 240.13d-2(a)
(Amendment No. 1)1
CSW Industrials, Inc.
(Name of Issuer)
Common Stock, par value $0.01 per share
(Title of Class of Securities)
126402 10 6
(CUSIP Number)
EUGENE DOZORTSEV
NEWTYN MANAGEMENT, LLC
405 PARK AVENUE, SUITE 1104
NEW YORK, NEW YORK 10022
(212) 446-2465
 
ANDREW FREEDMAN, ESQ.
OLSHAN FROME WOLOSKY LLP
1325 Avenue of the Americas
New York, New York 10019
(212) 451-2300

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)
July 17, 2016
(Date of Event Which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box x.
Note:  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See § 240.13d-7 for other parties to whom copies are to be sent.
_______________
1              The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
Follow Csw Industrials Inc. (OTCMKTS:CSWI)
Trade (OTCMKTS:CSWI) Now!
Page 1 of 14

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...
X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!