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Filing Details

Accession Number:: 0000919574-22-006942
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2022-12-01 18:43:34
Reporting Period:: 2022-11-29

Accepted Time:: 2022-12-01 18:43:34
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
276720	Pure Cycle Corp	PCYO	Water Supply (4941)	840705083

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1761269	Plaisance Capital Llc	250 Fillmore Street Suite 525 Denver CO 80206	No	No	Yes	No
1791049	Plaisance Spv I, Llc	C/O Plaisance Capital, Llc 250 Fillmore Street, Suite 525 Denver CO 80206	No	No	Yes	No
1791057	R Daniel Kozlowski	C/O Plaisance Capital, Llc 250 Fillmore Street, Suite 525 Denver CO 80206	No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock, Par Value 1/3 Of $0.01 Per Share	Disposition	2022-11-29	344,967	$0.00	3,603,820	No	4	J	Indirect	See Footnote
Common Stock, Par Value 1/3 Of $0.01 Per Share	Disposition	2022-11-29	16,500	$10.21	2,722,278	No	4	S	Direct
Common Stock, Par Value 1/3 Of $0.01 Per Share	Disposition	2022-11-30	865,042	$0.00	2,722,278	No	4	J	Indirect	See Footnote
Common Stock, Par Value 1/3 Of $0.01 Per Share	Disposition	2022-11-30	33,500	$10.24	2,688,778	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	J	Indirect	See Footnote
No	4	S	Direct
No	4	J	Indirect	See Footnote
No	4	S	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock, Par Value 1/3 Of $0.01 Per Share	2,688,778	Indirect	See Footnote

Footnotes

The reported securities were owned directly by certain private investment funds managed by the Investment Manager ("Other Clients"), and were deemed to be beneficially owned by Plaisance Capital, LLC, as the investment manager of the Other Clients (the "Investment Manager") and by Daniel Kozlowski, managing member of the Investment Manager. Each of the Reporting Persons disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that either of them are the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
On each of November 29, 2022 and November 30, 2022, respectively, in connection with the liquidation of the Other Clients, each of the Other Clients made an in-kind distribution of the reported securities to their partners. The distribution was consistent with the Other Clients' respective governing documents and was made on a pro rata basis to all partners in each Other Client. No consideration was received by the Reporting Persons in connection with such distribution.
The reported securities were directly owned by Plaisance SPV I, LLC, a Delaware limited liability company. The reported securities were deemed to be indirectly beneficially owned by the Investment Manager. The reported securities were also deemed to be indirectly beneficially owned by Daniel Kozlowski as managing member of the Investment Manager. Each of the Investment Manager and Daniel Kozlowski disclaim beneficial ownership of the reported securities except to the extent of their respective pecuniary interest, if any, therein, and this report shall not be deemed an admission that either of them are the beneficial owners of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions within the range of $10.10 to $10.29. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.
The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions within the range of $10.10 to $10.25. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.
The reported securities were directly owned by Plaisance SPV I, LLC and by certain Other Clients managed by the Investment Manager, and were deemed to be indirectly beneficially owned by the Investment Manager and by Daniel Kozlowski, managing member of the Investment Manager. Each of the Investment Manager and Daniel Kozlowski disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that either of them are the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.