Emergent Fidelity Technologies Files 13D on Robinhood (HOOD), 7.6% Stake

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May 12, 2022 4:18 PM EDT

Emergent Fidelity Technologies and CEO of FTX CEO Samuel Benjamin Bankman-Fried filed a 13D on Robinhood (NASDAQ: HOOD) showing 7.6% stake in the brokerage.

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The Reporting Persons acquired the Shares in the belief that the Shares represent an attractive investment. The Reporting Persons intend to hold the Shares as an investment, and do not currently have any intention of taking any action toward changing or influencing the control of the Issuer, participating in any transaction having that purpose or effect or taking any action listed in Item 4 of Schedule 13D. The Reporting Persons review their investments on an ongoing basis, including their investment in the Issuer. As a result of that review, and depending on many factors, the Reporting Persons may from time to time engage in discussions as a stockholder with representatives of the Issuer, other stockholders of the Issuer or third parties regarding the performance of the Issuer and its business and investment returns. Additionally, although the Reporting Persons currently have no intention to do so, in the future, and based on circumstances as they may develop, the Reporting Persons might determine to take other actions with respect to their investment in the Issuer as they deem appropriate, including, without limitation: reviewing options for enhancing stockholder value through, among other things, various strategic alternatives or operational or management initiatives; acquiring additional Shares and/or other securities of the Issuer or securities that are based upon or relate to the value of the Shares or otherwise relate to the Issuer (collectively, “Securities”), or disposing of, hedging or otherwise transacting in Securities; and proposing or considering, or changing their intention with respect to, one or more of the actions described in Item 4 of Schedule 13D.

The following table sets forth all transactions with respect to Shares effected in the last 60 days by or on behalf of the Reporting Persons, inclusive of any transactions effected through 4:00 p.m., New York City time, on May 12, 2022. All such transactions were open-market purchases of Shares made through an affiliate of the Reporting Persons that transferred such Shares to Emergent Fidelity Technologies Ltd. at those Shares’ respective purchase prices. The Reporting Persons undertake to provide, upon request of the staff of the Securities and Exchange Commission, full information regarding the number of Shares purchased at each separate price within the price ranges set forth on the table below.
Transaction Date
Buy/Sell
Quantity
Weighted Avg. Price
Price Range
03/14/2022
Buy
800,000
10.7092
10.4450 - 11.1300
03/15/2022
Buy
800,000
10.8915
10.5050 - 11.1100
03/16/2022
Buy
800,000
12.5464
11.9300 - 12.8400
03/17/2022
Buy
800,000
13.4212
12.7200 - 13.7000
03/22/2022
Buy
400,000
13.5252
13.2950 - 13.8500
03/23/2022
Buy
800,000
13.1211
12.8200 - 13.3350
03/24/2022
Buy
600,000
12.9467
12.8250 - 13.0400
03/25/2022
Buy
400,000
12.4069
12.2700 - 12.5200
03/28/2022
Buy
400,000
12.5177
12.2750 - 12.8000
04/11/2022
Buy
400,000
11.2423
11.0100 - 11.4650
04/12/2022
Buy
400,000
11.5911
11.3550 - 11.8300
04/13/2022
Buy
400,000
11.7531
11.4200 - 11.9300
04/14/2022
Buy
400,000
11.5851
11.3050 - 11.8800
04/18/2022
Buy
400,000
11.0111
10.9050 - 11.2700
04/19/2022
Buy
400,000
11.3910
11.2350 - 11.6300
04/20/2022
Buy
400,000
10.8683
10.6950 - 11.1050
04/27/2022
Buy
900,000
9.5583
9.3950 - 9.7600
04/28/2022
Buy
900,000
9.7489
9.2700 - 10.1900
05/02/2022
Buy
2,400,000
10.1458
9.5400 - 10.4800
05/03/2022
Buy
2,800,000
10.0107
9.6450 - 10.4900
05/04/2022
Buy
1,515,910
10.2058
9.8950 - 10.4950
05/04/2022
Buy
522,559
10.6816
10.5000 - 10.9050
05/05/2022
Buy
2,400,000
10.6365
10.3650 - 10.9500
05/06/2022
Buy
1,450,000
10.2339
9.9200 - 10.6500
05/09/2022
Buy
2,400,000
9.7423
9.4250 - 10.2300
05/10/2022
Buy
2,800,000
9.3580
8.9200 - 9.8800
05/11/2022
Buy
1,590,165
8.2786
8.0100 - 8.4950
05/11/2022
Buy
1,609,835
8.9340
8.5000 - 9.3500

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