Novavax shareholder Shah Capital to step back from activist role
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People pose with syringe with needle in front of displayed Novavax logo in this illustration taken, December 11, 2021. REUTERS/Dado Ruvic/Illustration
Oct 16 (Reuters) - Shah Capital, one of Novavax's top shareholders, said on Friday it no longer seeks to influence control of the vaccine maker after restructuring into a family office.
• The investor has filed with the US Securities and Exchange Commission to voluntarily withdraw its registration as an investment adviser, it said in a regulatory filing
• Himanshu Shah Family Office LLC has been established to manage the investments, the filing said
• Himanshu Shah is the founder, president and chief investment officer of Shah Capital, Novavax's second-largest shareholder, according to LSEG data
• Shah Capital reported beneficial ownership of 10.54 million Novavax shares, or about 6.39% of the company
• The filing also disclosed that Shah Capital Fund LLC sold 2.87 million shares on October 5 at an average price of about $11.35 apiece
• Himanshu Shah reported beneficial ownership of 10.66 million shares, representing about 6.46% of Novavax
(Reporting by Sahil Pandey in Bengaluru; Editing by Shilpi Majumdar)
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