Armistice Capital and Steven Boyd Disclose 2.92M Shares (8.70%) of ACXP
Rhea-AI Filing Summary
Armistice Capital and Steven Boyd report passive ownership of 8.70% of Acurx Pharmaceuticals common stock. The filing states Armistice Capital, as investment manager of Armistice Capital Master Fund Ltd., and Steven Boyd, as managing member, share voting and dispositive power over 2,917,975 shares. The Master Fund is the direct holder while Armistice Capital exercises investment and voting power under an Investment Management Agreement; the Master Fund disclaims beneficial ownership arising solely from that agreement. The filing is made on Schedule 13G indicating the holdings are reported as passive.
Positive
- Material disclosure of substantial stake: Reporting Persons hold 2,917,975 shares representing 8.70% of the class, meeting SEC materiality thresholds.
- Passive classification: Filed on Schedule 13G, indicating the holders report the position as ordinary-course and not intended to change or influence control.
Negative
- No statement of future intentions: The filing contains no plans or clarifying detail about future trading or strategic intentions that could reduce investor uncertainty.
- Shared voting power only: Reporting Persons report 0 shares of sole voting power, indicating control is shared rather than unilateral.
Insights
TL;DR: Armistice Capital and its managing member report an 8.70% passive stake in ACXP via a managed fund.
Armistice Capital, through its Master Fund, holds 2,917,975 shares representing 8.70% of Acurx Pharmaceuticals common stock and reports shared voting and dispositive power. The Schedule 13G classification signals the Reporting Persons state the stake is passive and not intended to influence control. For investors, a disclosed >5% holder is material because it identifies a sizable investor with the ability to influence outcomes indirectly, though the filing contains no indication of activist intent or transactions beyond the holding.
TL;DR: A material ownership disclosure with shared control via an investment adviser structure; filing asserts ordinary-course, non-control purpose.
The filing clarifies the chain of ownership: the Master Fund is the direct holder while Armistice Capital and Steven Boyd exercise voting and investment powers under an Investment Management Agreement. The Master Fund expressly disclaims beneficial ownership under that agreement. The joint filing statement documents shared responsibility for amendments. There are no statements of intent to change or influence control in this document.