Recently the target of insider buying, CASI Pharmaceuticals Inc. (NASDAQ:CASI) has also been targeted by Sparkle Byte as per a 13D filing from the firm, which discloses a 13.6% activist stake in the company. At Insider Monkey, we closely monitor the moves made by activist investors. Their targets are often undervalued stocks with firm foundations that for one reason or another have failed to execute. At times, all it takes is a fresh outlook and a slight tweak to completely alter the makeup and efficiency of a company, and activists can provide this. They also shine a spotlight on shareholder value creation, which can be neglected by entrenched management who often have their priorities elsewhere. Take a look at the details of the latest filing below.
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 |
|---|---|---|---|---|---|---|
| Sparkle Byte Limited | 0 | 0 | 5,693,892 | 13.6% | ||
| Snow Moon Limited | 0 | 0 | 5,693,892 | 13.6% | ||
| Tianjin Jingran Management Center (Limited Partnership) | 0 | 0 | 5,693,892 | 13.6% | ||
| He Xie Ai Qi Investment Management (Beijing) Co., Ltd. | 0 | 5,693,892 | 13.6% | |||
| Jianguang Li | 0 | 5,693,892 | 13.6% | |||
| Dongliang Lin | 5,693,892 | 13.6% | ||||
| Fei Yang | 5,693,892 | 13.6% | ||||
| Suyang Zhang | 5,693,892 | 13.6% | ||||
| Hugo Shong | 5,693,892 | 13.6% |
Page 1 of 24 SEC Filing
| UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 |
| SCHEDULE |
| CASI Pharmaceuticals, Inc. |
| (Name of Issuer) |
| Common Stock, $0.01 par value |
| (Title of Class of Securities) |
| 14757U 109 |
| (CUSIP Number) |
| Dongliang Lin 6/F, Tower A, COFCO Plaza 8 Jianguomennei Avenue Beijing 100005, P. R. China +86 10 6526 4136 Copies to: Howard Zhang c/o Davis Polk & Wardwell LLP 2201 China World Office 2 1 Jian Guo Men Wai Avenue Chao Yang District, Beijing 100004, P.R. +86 10 8567 5002 |
| (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) |
| January 14, 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-l(f) or 240.13d-l(g), check the following box. ☐ |
| 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. |
| *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). |
