Summary by Moomoo AI
On July 11, 2024, a Schedule 13G filing was made with the United States Securities and Exchange Commission by a group of related Canadian entities and individuals, indicating a significant ownership stake in Virgin Galactic Holdings' Convertible Notes. The filing entities include The K2 Principal Fund, L.P., K2 Genpar 2017 Inc., Shawn Kimel Investments, Inc., and K2 & Associates Investment Management Inc., all based in Ontario, Canada. Collectively, these entities reported shared voting and dispositive power over 28,500,000 Convertible Notes of Virgin Galactic, representing 6.70% of the class. The filing was made under Rule 13d-1(c) of the Securities Exchange Act of 1934, which is used for passive investors. The principal executive offices of Virgin Galactic are located in Tustin, California. The filing entities are associated with Shawn Kimel and Todd Sikorski, who hold key management positions within the reporting entities. The filing asserts that the securities were not acquired for the purpose of changing or influencing the control of Virgin Galactic and were not held in connection with any transaction having such purpose or effect.