TCM|Strategic Provides Update on Fund Holdings
TCM|Strategic has announced a significant update regarding its holdings in Digimarc (NASDAQ: DMRC). The fund has distributed 1,385,147 common shares of DMRC to certain Partners, reducing its ownership to 2,355,093 shares.
The distribution marks the conclusion of the original four-year fund life, which began in September 2020. According to Riley McCormack, Managing Member of TCM|Strategic, Partners representing approximately two-thirds of the Fund, including himself, have opted to extend the Fund's expiry date by multiple years to maintain full ownership and control of their pro rata interest.
TCM|Strategic ha annunciato un aggiornamento significativo riguardo le sue partecipazioni in Digimarc (NASDAQ: DMRC). Il fondo ha distribuito 1.385.147 azioni ordinarie di DMRC a determinati Partner, riducendo la sua proprietà a 2.355.093 azioni.
Questa distribuzione segna la conclusione dell'originale durata del fondo di quattro anni, iniziata a settembre 2020. Secondo Riley McCormack, Membro Direttivo di TCM|Strategic, i Partner che rappresentano circa due terzi del Fondo, incluso lui stesso, hanno scelto di estendere la data di scadenza del Fondo di diversi anni per mantenere il pieno possesso e controllo del loro interesse pro rata.
TCM|Strategic ha anunciado una actualización significativa sobre sus participaciones en Digimarc (NASDAQ: DMRC). El fondo ha distribuido 1.385.147 acciones ordinarias de DMRC a ciertos Socios, reduciendo su propiedad a 2.355.093 acciones.
La distribución marca la conclusión de la vida original del fondo de cuatro años, que comenzó en septiembre de 2020. Según Riley McCormack, Miembro Gerente de TCM|Strategic, los Socios que representan aproximadamente dos tercios del Fondo, incluido él mismo, han optado por extender la fecha de vencimiento del Fondo por varios años para mantener la plena propiedad y control de su interés pro rata.
TCM|Strategic는 Digimarc (NASDAQ: DMRC)에 대한 보유 현황에 대한 중요한 업데이트를 발표했습니다. 이 펀드는 특정 파트너에게 1,385,147주의 DMRC 보통주를 배포하여 보유 주식을 2,355,093주로 줄였습니다.
이번 배포는 2020년 9월에 시작된 원래 4년 펀드 생명의 종료를 의미합니다. TCM|Strategic의 관리 멤버인 Riley McCormack에 따르면, 그 자신을 포함하여 펀드의 약 2/3를 대표하는 파트너들이 그들의 비례 지분에 대한 완전한 소유권과 통제를 유지하기 위해 펀드의 만료 날짜를 여러 해 연장하기로 선택했습니다.
TCM|Strategic a annoncé une mise à jour significative concernant ses participations dans Digimarc (NASDAQ: DMRC). Le fonds a distribué 1.385.147 actions ordinaires de DMRC à certains Partenaires, réduisant ainsi sa propriété à 2.355.093 actions.
Cette distribution marque la conclusion de la durée de vie originale du fonds de quatre ans, qui a commencé en septembre 2020. Selon Riley McCormack, membre directeur de TCM|Strategic, des Partenaires représentant environ deux tiers du Fonds, y compris lui-même, ont choisi de prolonger la date d'expiration du Fonds de plusieurs années afin de maintenir la pleine propriété et le contrôle de leur intérêt au prorata.
TCM|Strategic hat ein bedeutendes Update zu seinen Beteiligungen an Digimarc (NASDAQ: DMRC) angekündigt. Der Fonds hat 1.385.147 Stammaktien von DMRC an bestimmte Partner verteilt und damit seinen Besitz auf 2.355.093 Aktien reduziert.
Die Verteilung markiert das Ende der ursprünglichen vierjährigen Lebensdauer des Fonds, die im September 2020 begann. Laut Riley McCormack, geschäftsführendes Mitglied von TCM|Strategic, haben Partner, die etwa zwei Drittel des Fonds repräsentieren, einschließlich ihm selbst, beschlossen, das Ablaufdatum des Fonds um mehrere Jahre zu verlängern, um die volle Eigentümerschaft und Kontrolle über ihr anteiliges Interesse zu behalten.
- Majority of investors (⅔) demonstrate confidence by extending fund life
- Fund maintains significant position with 2.3M+ shares
- Reduction in fund holdings by 1.38M shares could impact stock price
- Partial exit of Partners might signal mixed investor sentiment
Insights
The distribution of 1,385,147 common shares of Digimarc (NASDAQ: DMRC) by TCM|Strategic to certain Partners represents a structural ownership change rather than a fundamental shift in investor sentiment. This distribution stems from the natural conclusion of the fund's original four-year lifespan that began in September 2020.
What's noteworthy is that Partners representing approximately
TCM|Strategic still maintains a substantial position with 2,355,093 shares remaining under its control. While some shares have been distributed, there's no indication of immediate selling pressure as this appears to be a planned administrative action rather than a reaction to company performance.
The initial creation of a Special Purpose Vehicle specifically to invest in Digimarc suggests a focused investment thesis from sophisticated investors. The willingness of most participants to extend beyond the original investment timeframe could be interpreted as ongoing belief in that thesis.
For current Digimarc shareholders, this development primarily represents continuity with some restructuring, rather than a fundamental change in institutional support.
"TCM|Strategic is a Special Purpose Vehicle formed in September 2020 with the sole purpose of making an investment in Digimarc Corporation. The original Fund life was four years," said Riley McCormack, Managing Member of TCM|Strategic. "Limited Partners representing approximately 2/3rds of the Fund, including me, have decided to extend the Fund expiry date by multiple additional years for the purpose of allowing the Fund to maintain full ownership and control of their pro rata interest. Today's share distribution to the other Limited Partners reflects the conclusion of the original Fund life."
Disclaimer:
This press release is made available for the limited purposes set forth herein. No offer to sell or solicitation of an offer to purchase any securities or to participate in any investment vehicle or other financial product offered, sponsored, managed or otherwise associated with TCM Strategic L.P. or any of its affiliates or personnel (collectively, "TCM") or any securities of Digimarc Corporation ("Digimarc") is made hereby. This press release does not constitute an offer to sell or a solicitation of an offer to buy an interest in any investment or other asset. Such an offer, if made, may be made only through separate offering materials or registration statements, as applicable. This press release does not and shall be deemed not to constitute any commitment or to create any contractual obligations on the part of TCM, Digimarc or any of its relevant subsidiaries or affiliates. This press release is not, and may not be relied on in any manner as legal, tax, investment, accounting or other advice, and none of TCM, Digimarc, or any of its affiliates has or will provide any such advice.
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SOURCE TCM|Strategic
FAQ
How many Digimarc (DMRC) shares did TCM|Strategic distribute to Partners?
What is TCM|Strategic's current ownership position in DMRC after the distribution?
When was TCM|Strategic Fund originally established and for what purpose?
What percentage of TCM|Strategic Partners chose to extend the Fund's expiry date?
