Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(a)
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
Azenta, Inc.
(Name of Issuer)
Common Stock, par value $0.01 per share
(Title of Class of Securities)
114340102
(CUSIP Number)
Quentin Koffey
Politan Capital Management LP
106 West 56th Street, 10th Floor
New York, New York 10019
646-690-2830
With a copy to:
Richard M. Brand
Cadwalader, Wickersham & Taft LLP
200 Liberty Street
New York, NY 10281
212-504-6000
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
November 13, 2023
(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 Rule 13d-1(e), 13d-1(f) or 13d-1(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 Rule 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).
| 1 |
NAME OF REPORTING PERSON Politan Capital Management LP | |
| 2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) x (b) ¨ | |
| 3 | SEC USE ONLY | |
| 4 |
SOURCE OF FUNDS
OO (See Item 3) | |
| 5 |
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
¨ | |
| 6 |
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware | |
| Number of shares beneficially owned by each reporting person with |
7 |
SOLE VOTING POWER
0 |
| 8 |
SHARED VOTING POWER
4,578,003 | |
| 9 |
SOLE DISPOSITIVE POWER
0 | |
| 10 |
SHARED DISPOSITIVE POWER
4,578,003 | |
| 11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,578,003 | |
| 12 |
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
¨ | |
| 13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.92%* | |
| 14 |
TYPE OF REPORTING PERSON
IA | |
* All percentage calculations set forth herein are based upon the aggregate of 57,832,378 shares of Common Stock outstanding as of September 30, 2023, as reported in the earnings press release filed as an exhibit to the Issuer’s Current Report on Form 8-K filed with the Securities and Exchange Commission (the “SEC”) on November 13, 2023.
| 1 |
NAME OF REPORTING PERSON Politan Capital Management GP LLC | |
| 2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) x (b) ¨ | |
| 3 |
SEC USE ONLY
| |
| 4 |
SOURCE OF FUNDS
OO (See Item 3) | |
| 5 |
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
¨ | |
| 6 |
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware | |
| Number of shares beneficially owned by each reporting person with |
7 |
SOLE VOTING POWER
0 |
| 8 |
SHARED VOTING POWER
4,578,003 | |
| 9 |
SOLE DISPOSITIVE POWER
0 | |
| 10 |
SHARED DISPOSITIVE POWER
4,578,003 | |
| 11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,578,003 | |
| 12 |
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
¨ | |
| 13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.92%* | |
| 14 |
TYPE OF REPORTING PERSON
IA | |
* All percentage calculations set forth herein are based upon the aggregate of 57,832,378 shares of Common Stock outstanding as of September 30, 2023, as reported in the earnings press release filed as an exhibit to the Issuer’s Current Report on Form 8-K filed with the SEC on November 13, 2023.
| 1 |
NAME OF REPORTING PERSON Politan Capital Partners GP LLC | |
| 2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) x (b) ¨ | |
| 3 |
SEC USE ONLY
| |
| 4 |
SOURCE OF FUNDS
OO (See Item 3) | |
| 5 |
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
¨ | |
| 6 |
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware | |
| Number of shares beneficially owned by each reporting person with |
7 |
SOLE VOTING POWER
0 |
| 8 |
SHARED VOTING POWER
4,578,003 | |
| 9 |
SOLE DISPOSITIVE POWER
0 | |
| 10 |
SHARED DISPOSITIVE POWER
4,578,003 | |
| 11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,578,003 | |
| 12 |
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
¨ | |
| 13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.92%* | |
| 14 |
TYPE OF REPORTING PERSON
IA | |
* All percentage calculations set forth herein are based upon the aggregate of 57,832,378 shares of Common Stock outstanding as of September 30, 2023, as reported in the earnings press release filed as an exhibit to the Issuer’s Current Report on Form 8-K filed with the SEC on November 13, 2023.
| 1 |
NAME OF REPORTING PERSON Quentin Koffey | |
| 2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) x (b) ¨ | |
| 3 |
SEC USE ONLY
| |
| 4 |
SOURCE OF FUNDS
OO (See Item 3) | |
| 5 |
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
¨ | |
| 6 |
CITIZENSHIP OR PLACE OF ORGANIZATION
United States | |
| Number of shares beneficially owned by each reporting person with |
7 |
SOLE VOTING POWER
0 |
| 8 |
SHARED VOTING POWER
4,578,003 | |
| 9 |
SOLE DISPOSITIVE POWER
0 | |
| 10 |
SHARED DISPOSITIVE POWER
4,578,003 | |
| 11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,578,003 | |
| 12 |
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
¨ | |
| 13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.92%* | |
| 14 |
TYPE OF REPORTING PERSON
IN | |
* All percentage calculations set forth herein are based upon the aggregate of 57,832,378 shares of Common Stock outstanding as of September 30, 2023, as reported in the earnings press release filed as an exhibit to the Issuer’s Current Report on Form 8-K filed with the SEC on November 13, 2023.
This Amendment No. 2 to Schedule 13D (this “Amendment No. 1”) amends and supplements the Schedule 13D filed on September 14, 2023 (the “Initial 13D”, and as amended and supplemented through the date of this Amendment No. 2, the “Schedule 13D”) by the Reporting Persons, relating to the common stock, par value $0.01 per share (the “Common Stock”), of Azenta, Inc., a Delaware corporation (the “Issuer”). Capitalized terms not defined in this Amendment No. 2 shall have the meaning ascribed to them in the Initial 13D.
ITEM 1. SECURITY AND ISSUER
Item 1 of the Schedule 13D is hereby amended and supplemented with the following information:
Each of the Reporting Persons beneficially owns an aggregate o f 4,578,003 shares of Common Stock. These shares represent approximately 7.92% of the outstanding shares of Common Stock.
ITEM 4. PURPOSE OF TRANSACTION
Item 4 of the Schedule 13D is hereby amended and supplemented with the following information:
On November 13, 2023, Politan withdrew its notice of nomination of candidates for election to the Board and stockholder proposal relating to the Issuer’s 2024 annual meeting of stockholders. As stated in the Issuer’s press release from the same day, the withdrawal followed constructive discussions held between Politan and the Issuer and was in connection to a number of actions announced by the Issuer regarding its capital allocation policy, Board refreshment and future strategy.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
Item 5(a) and Item 5(b) of the Schedule 13D are hereby amended and restated as follows:
(a), (b) Each of the Reporting Persons beneficially owns an aggregate of 4,578,003 shares of Common Stock (the “Subject Shares”). The Subject Shares represent approximately 7.92% of the outstanding shares of Common Stock, based on 57,832,378 shares of Common Stock outstanding as of September 30, 2023, as reported in the earnings press release filed as an exhibit to the Issuer’s Current Report on Form 8-K filed with the SEC on November 13, 2023.
Politan, as the investment advisor to the Politan Funds, may be deemed to have the shared power to vote or direct the vote of (and the shared power to dispose or direct the disposition of) all of the Subject Shares. Politan Management, as the general partner of Politan, which is in turn the investment advisor to the Politan Funds, may be deemed to have the shared power to vote or direct the vote of (and the shared power to dispose or direct the disposition of) all of the Subject Shares. Politan GP, as the general partner of the Politan Funds, may be deemed to have the shared power to vote or direct the vote of (and the shared power to dispose or direct the disposition of) all of the Subject Shares. Mr. Koffey, as the Managing Partner And Chief Investment Officer of Politan, and as the Managing Member of Politan Management and Politan GP, may be deemed to have the shared power to vote or direct the vote of (and the shared power to dispose or direct the disposition of) all of the Subject Shares.
SIGNATURES
After reasonable inquiry and to the best of each of the undersigned’s knowledge and belief, each of the undersigned certify that the information set forth in this statement is true, complete and correct.
Date: November 15, 2023
| POLITAN CAPITAL MANAGEMENT LP | |||
| By: | Politan Capital Management GP LLC, its general partner |
||
| By: | /s/ Quentin Koffey | ||
| Name: | Quentin Koffey | ||
| Title: | Managing Member | ||
| POLITAN CAPITAL MANAGEMENT GP LLC | |||
| By: | /s/ Quentin Koffey | ||
| Name: | Quentin Koffey | ||
| Title: | Managing Member | ||
| POLITAN CAPITAL PARTNERS GP LLC | |||
| By: | /s/ Quentin Koffey | ||
| Name: | Quentin Koffey | ||
| Title: | Managing Member | ||
| QUENTIN KOFFEY | |||
| By: | /s/ Quentin Koffey | ||
| Name: | Quentin Koffey | ||
INDEX TO EXHIBITS
*Previously filed.