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Stock impact report

Exclusive-Altai Capital lays groundwork for board fight at OraSure Technologies, sources say [Yahoo! Finance]

OraSure Technologies, Inc. (OSUR) 
Last orasure technologies, inc. earnings: 2/19 04:00 pm Check Earnings Report
Company Research Source: Yahoo! Finance
hedge fund, already one of the biggest owners of the medical device maker, increased its holdings, two people familiar with the matter told Reuters. The hedge fund built up its stake from 3% at the end of June to 5% in recent weeks in OraSure, known for its COVID-19 rapid antigen tests, said the people who are not authorized to discuss the matter publicly. The larger stake allows Altai, founded in 2009 by Rishi Bajaj, to press its case for board representation more forcefully, the people said. Investors have grown increasingly frustrated with OraSure in recent months and several have told Reuters that pushing for board representation would be one way to shift strategy, which could boost its stock price. Altai is ratcheting up the pressure after Reuters reported that the company rebuffed a buyout offer from prominent healthcare entrepreneur Ron Zwanziger. The two are not working together, the sources confirmed. Two OraSure directors will stand for reelection at next year's an Show less Read more
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