Novavax shareholder Shah Capital to step back from activist role
Novavax shareholder Shah Capital to step back from activist role Oct 16 (Reuters) - Shah Capital, one of Novavax's NVAX.O 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)
((Sahil.Pandey@thomsonreuters.com;))
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