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[8-K] Aspira Women's Health Inc. Reports Material Event

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Rhea-AI Filing Summary

Mantle Ridge LP, MR Cobalt Advisor LLC and Paul C. Hilal filed Amendment No. 5 to their Schedule 13D on Dollar Tree (DLTR) dated 15 July 2025. The group continues to hold 13,640,904 common shares (6.5% beneficial ownership) and maintains total economic exposure to 23,296,508 shares (11.2% of shares outstanding) through cash- and physically-settled forward structures.

On 11 July 2025 the “Participating MR Funds” exercised expiring option agreements with an aggregate strike payment of $889.6 million. Rather than taking delivery, the parties converted the options into new cash-settled and physically-settled forward contracts that mirror the previous exposure, leaving voting and dispositive power unchanged.

The exercise was funded via a $918.1 million secured loan facility from an unaffiliated institution. The loan is collateralised by 10,982,616 pledged shares plus derivatives referencing 10,268,954 shares, but notably contains no margin-call or price-trigger provisions. Voting rights on pledged shares remain with Mantle Ridge unless a foreclosure event occurs.

No additional share purchases or sales were reported; the amendment primarily updates the capital-markets mechanics (option conversion, loan facility) and confirms current ownership percentages. Exhibits include the joint filing agreement, trading data and templates for the derivative contracts.

Mantle Ridge LP, MR Cobalt Advisor LLC e Paul C. Hilal hanno presentato l'Emendamento n. 5 al loro Schedule 13D su Dollar Tree (DLTR) datato 15 luglio 2025. Il gruppo continua a detenere 13.640.904 azioni ordinarie (6,5% della proprietà beneficiaria) e mantiene una esposizione economica totale pari a 23.296.508 azioni (11,2% delle azioni in circolazione) tramite strutture forward regolate in contanti e fisicamente.

Il 11 luglio 2025 i “Fondi MR Partecipanti” hanno esercitato opzioni in scadenza con un pagamento aggregato di 889,6 milioni di dollari. Invece di ricevere le azioni, le parti hanno convertito le opzioni in nuovi contratti forward regolati in contanti e fisicamente, mantenendo invariata l'esposizione precedente e i poteri di voto e disposizione.

L'esercizio è stato finanziato tramite un prestito garantito di 918,1 milioni di dollari da un istituto non affiliato. Il prestito è garantito da 10.982.616 azioni vincolate più derivati riferiti a 10.268.954 azioni, ma non prevede clausole di margin call o trigger di prezzo. I diritti di voto sulle azioni vincolate restano a Mantle Ridge, salvo eventi di esecuzione forzata.

Non sono stati segnalati ulteriori acquisti o vendite di azioni; l'emendamento aggiorna principalmente la meccanica dei mercati finanziari (conversione delle opzioni, facility di prestito) e conferma le percentuali di proprietà attuali. Gli allegati includono l'accordo di deposito congiunto, i dati di trading e i modelli per i contratti derivati.

Mantle Ridge LP, MR Cobalt Advisor LLC y Paul C. Hilal presentaron la Enmienda N° 5 a su Schedule 13D sobre Dollar Tree (DLTR) con fecha 15 de julio de 2025. El grupo continúa poseyendo 13,640,904 acciones ordinarias (6.5% de propiedad beneficiaria) y mantiene una exposición económica total a 23,296,508 acciones (11.2% de las acciones en circulación) mediante estructuras forward liquidadas en efectivo y físicamente.

El 11 de julio de 2025, los “Fondos MR Participantes” ejercieron opciones próximas a vencer con un pago total de 889.6 millones de dólares. En lugar de recibir las acciones, las partes convirtieron las opciones en nuevos contratos forward liquidados en efectivo y físicamente, manteniendo la exposición anterior y sin cambios en los derechos de voto y disposición.

El ejercicio fue financiado mediante una línea de crédito garantizada de 918.1 millones de dólares de una institución no afiliada. El préstamo está garantizado por 10,982,616 acciones en prenda más derivados referenciados a 10,268,954 acciones, pero notablemente sin cláusulas de margin call ni disparadores de precio. Los derechos de voto sobre las acciones en prenda permanecen con Mantle Ridge a menos que ocurra un evento de ejecución forzosa.

No se reportaron compras ni ventas adicionales de acciones; la enmienda actualiza principalmente la mecánica de los mercados de capitales (conversión de opciones, línea de crédito) y confirma los porcentajes actuales de propiedad. Los anexos incluyen el acuerdo conjunto de presentación, datos de negociación y plantillas para los contratos derivados.

Mantle Ridge LP, MR Cobalt Advisor LLC 및 Paul C. Hilal은 2025년 7월 15일자 Dollar Tree(DLTR)에 대한 Schedule 13D의 수정안 5호를 제출했습니다. 이 그룹은 13,640,904주(6.5%의 실질 소유권)를 계속 보유하고 있으며, 현금 및 실물 결제 선도 계약을 통해 총 23,296,508주(발행 주식의 11.2%)에 대한 경제적 노출을 유지하고 있습니다.

2025년 7월 11일, “참여 MR 펀드”는 만료 예정인 옵션 계약을 행사하여 총 행사가격으로 8억 8,960만 달러를 지급했습니다. 주식을 인수하는 대신, 당사자들은 옵션을 이전 노출과 동일한 현금 및 실물 결제 선도 계약으로 전환하여 의결권 및 처분권은 변함없이 유지했습니다.

이 행사는 비계열 기관으로부터 9억 1,810만 달러의 담보 대출 시설을 통해 자금 조달되었습니다. 대출은 10,982,616주 담보 주식과 10,268,954주에 대한 파생상품을 담보로 하지만, 마진콜이나 가격 트리거 조항은 포함되어 있지 않습니다. 담보 주식에 대한 의결권은 압류 사태가 발생하지 않는 한 Mantle Ridge에 남아 있습니다.

추가 주식 매수나 매도는 보고되지 않았으며, 이번 수정안은 주로 자본시장 메커니즘(옵션 전환, 대출 시설)을 업데이트하고 현재 소유 비율을 확인하는 내용입니다. 첨부 문서에는 공동 제출 계약서, 거래 데이터 및 파생 계약 템플릿이 포함되어 있습니다.

Mantle Ridge LP, MR Cobalt Advisor LLC et Paul C. Hilal ont déposé l'Amendement n° 5 à leur Schedule 13D concernant Dollar Tree (DLTR) en date du 15 juillet 2025. Le groupe continue de détenir 13 640 904 actions ordinaires (6,5 % de propriété bénéficiaire) et maintient une exposition économique totale à 23 296 508 actions (11,2 % des actions en circulation) via des structures à terme réglées en espèces et physiquement.

Le 11 juillet 2025, les « Fonds MR participants » ont exercé des contrats d’option arrivant à échéance pour un paiement d’exercice total de 889,6 millions de dollars. Plutôt que de prendre livraison, les parties ont converti les options en nouveaux contrats à terme réglés en espèces et physiquement, conservant l’exposition précédente ainsi que les droits de vote et de disposition inchangés.

L’exercice a été financé par une facilité de prêt garantie de 918,1 millions de dollars auprès d’une institution non affiliée. Le prêt est garanti par 10 982 616 actions nanties ainsi que des dérivés référencés à 10 268 954 actions, mais ne comporte aucune clause d’appel de marge ni de déclencheur de prix. Les droits de vote sur les actions nanties restent détenus par Mantle Ridge sauf en cas de saisie.

Aucun achat ou vente supplémentaire d’actions n’a été signalé ; l’amendement met principalement à jour les mécanismes des marchés financiers (conversion d’options, facilité de prêt) et confirme les pourcentages de propriété actuels. Les annexes comprennent l’accord de dépôt conjoint, les données de trading et les modèles des contrats dérivés.

Mantle Ridge LP, MR Cobalt Advisor LLC und Paul C. Hilal reichten am 15. Juli 2025 die Änderung Nr. 5 zu ihrem Schedule 13D für Dollar Tree (DLTR) ein. Die Gruppe hält weiterhin 13.640.904 Stammaktien (6,5 % wirtschaftliches Eigentum) und behält eine Gesamtexponierung von 23.296.508 Aktien (11,2 % der ausstehenden Aktien) durch Bar- und physisch abgewickelte Forward-Strukturen.

Am 11. Juli 2025 haben die „teilnehmenden MR-Fonds“ auslaufende Optionsvereinbarungen ausgeübt mit einer Gesamt-Ausübungssumme von 889,6 Millionen US-Dollar. Anstatt die Aktien zu übernehmen, wandelten die Parteien die Optionen in neue bar- und physisch abgewickelte Forward-Kontrakte um, die die vorherige Exponierung widerspiegeln, wobei Stimm- und Verfügungsrechte unverändert bleiben.

Die Ausübung wurde durch eine besicherte Kreditfazilität von 918,1 Millionen US-Dollar bei einer nicht verbundenen Institution finanziert. Der Kredit ist durch 10.982.616 verpfändete Aktien sowie Derivate, die sich auf 10.268.954 Aktien beziehen, besichert, enthält jedoch keine Margin-Call- oder Preis-Trigger-Klauseln. Die Stimmrechte an den verpfändeten Aktien verbleiben bei Mantle Ridge, sofern kein Zwangsvollstreckungsereignis eintritt.

Es wurden keine zusätzlichen Aktienkäufe oder -verkäufe gemeldet; die Änderung aktualisiert hauptsächlich die Kapitalmarktmechanismen (Optionsumwandlung, Kreditfazilität) und bestätigt die aktuellen Eigentumsanteile. Anlagen umfassen die gemeinsame Einreichungsvereinbarung, Handelsdaten und Vorlagen für die Derivatverträge.

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Insights

TL;DR: Mantle Ridge keeps 6.5% stake, rolls options into forwards, shows ongoing activist positioning without adding shares.

The filing signals status-quo ownership yet reinforces Mantle Ridge’s long-term activist commitment to Dollar Tree. Converting near-expiry options into forward contracts avoids an imminent expiry cliff and preserves the fund’s influence while eliminating timing risk. The absence of margin triggers in the $918 million loan reduces forced-sale risk, a shareholder-friendly feature. However, the use of leverage and pledging of 11 million shares introduces counter-party risk if default events arise. Overall, the disclosure is strategically positive for governance visibility but not materially accretive to ownership.

TL;DR: Leverage-funded option exercise leaves exposure unchanged; risk profile hinges on loan covenants.

From a credit-risk perspective, Mantle Ridge’s $918 million facility adds substantial secured leverage against DLTR shares. The loan’s lack of price-based margin calls mitigates near-term volatility risk, yet foreclosure rights on default remain. Economic exposure of 11.2% (vs. 6.5% voting stake) underscores the use of derivatives to amplify returns, a potential overhang for other investors if hedging flows emerge. Because beneficial ownership is static, the market impact is likely neutral in the short run; investors should monitor any covenant breaches and future hedge unwinds.

Mantle Ridge LP, MR Cobalt Advisor LLC e Paul C. Hilal hanno presentato l'Emendamento n. 5 al loro Schedule 13D su Dollar Tree (DLTR) datato 15 luglio 2025. Il gruppo continua a detenere 13.640.904 azioni ordinarie (6,5% della proprietà beneficiaria) e mantiene una esposizione economica totale pari a 23.296.508 azioni (11,2% delle azioni in circolazione) tramite strutture forward regolate in contanti e fisicamente.

Il 11 luglio 2025 i “Fondi MR Partecipanti” hanno esercitato opzioni in scadenza con un pagamento aggregato di 889,6 milioni di dollari. Invece di ricevere le azioni, le parti hanno convertito le opzioni in nuovi contratti forward regolati in contanti e fisicamente, mantenendo invariata l'esposizione precedente e i poteri di voto e disposizione.

L'esercizio è stato finanziato tramite un prestito garantito di 918,1 milioni di dollari da un istituto non affiliato. Il prestito è garantito da 10.982.616 azioni vincolate più derivati riferiti a 10.268.954 azioni, ma non prevede clausole di margin call o trigger di prezzo. I diritti di voto sulle azioni vincolate restano a Mantle Ridge, salvo eventi di esecuzione forzata.

Non sono stati segnalati ulteriori acquisti o vendite di azioni; l'emendamento aggiorna principalmente la meccanica dei mercati finanziari (conversione delle opzioni, facility di prestito) e conferma le percentuali di proprietà attuali. Gli allegati includono l'accordo di deposito congiunto, i dati di trading e i modelli per i contratti derivati.

Mantle Ridge LP, MR Cobalt Advisor LLC y Paul C. Hilal presentaron la Enmienda N° 5 a su Schedule 13D sobre Dollar Tree (DLTR) con fecha 15 de julio de 2025. El grupo continúa poseyendo 13,640,904 acciones ordinarias (6.5% de propiedad beneficiaria) y mantiene una exposición económica total a 23,296,508 acciones (11.2% de las acciones en circulación) mediante estructuras forward liquidadas en efectivo y físicamente.

El 11 de julio de 2025, los “Fondos MR Participantes” ejercieron opciones próximas a vencer con un pago total de 889.6 millones de dólares. En lugar de recibir las acciones, las partes convirtieron las opciones en nuevos contratos forward liquidados en efectivo y físicamente, manteniendo la exposición anterior y sin cambios en los derechos de voto y disposición.

El ejercicio fue financiado mediante una línea de crédito garantizada de 918.1 millones de dólares de una institución no afiliada. El préstamo está garantizado por 10,982,616 acciones en prenda más derivados referenciados a 10,268,954 acciones, pero notablemente sin cláusulas de margin call ni disparadores de precio. Los derechos de voto sobre las acciones en prenda permanecen con Mantle Ridge a menos que ocurra un evento de ejecución forzosa.

No se reportaron compras ni ventas adicionales de acciones; la enmienda actualiza principalmente la mecánica de los mercados de capitales (conversión de opciones, línea de crédito) y confirma los porcentajes actuales de propiedad. Los anexos incluyen el acuerdo conjunto de presentación, datos de negociación y plantillas para los contratos derivados.

Mantle Ridge LP, MR Cobalt Advisor LLC 및 Paul C. Hilal은 2025년 7월 15일자 Dollar Tree(DLTR)에 대한 Schedule 13D의 수정안 5호를 제출했습니다. 이 그룹은 13,640,904주(6.5%의 실질 소유권)를 계속 보유하고 있으며, 현금 및 실물 결제 선도 계약을 통해 총 23,296,508주(발행 주식의 11.2%)에 대한 경제적 노출을 유지하고 있습니다.

2025년 7월 11일, “참여 MR 펀드”는 만료 예정인 옵션 계약을 행사하여 총 행사가격으로 8억 8,960만 달러를 지급했습니다. 주식을 인수하는 대신, 당사자들은 옵션을 이전 노출과 동일한 현금 및 실물 결제 선도 계약으로 전환하여 의결권 및 처분권은 변함없이 유지했습니다.

이 행사는 비계열 기관으로부터 9억 1,810만 달러의 담보 대출 시설을 통해 자금 조달되었습니다. 대출은 10,982,616주 담보 주식과 10,268,954주에 대한 파생상품을 담보로 하지만, 마진콜이나 가격 트리거 조항은 포함되어 있지 않습니다. 담보 주식에 대한 의결권은 압류 사태가 발생하지 않는 한 Mantle Ridge에 남아 있습니다.

추가 주식 매수나 매도는 보고되지 않았으며, 이번 수정안은 주로 자본시장 메커니즘(옵션 전환, 대출 시설)을 업데이트하고 현재 소유 비율을 확인하는 내용입니다. 첨부 문서에는 공동 제출 계약서, 거래 데이터 및 파생 계약 템플릿이 포함되어 있습니다.

Mantle Ridge LP, MR Cobalt Advisor LLC et Paul C. Hilal ont déposé l'Amendement n° 5 à leur Schedule 13D concernant Dollar Tree (DLTR) en date du 15 juillet 2025. Le groupe continue de détenir 13 640 904 actions ordinaires (6,5 % de propriété bénéficiaire) et maintient une exposition économique totale à 23 296 508 actions (11,2 % des actions en circulation) via des structures à terme réglées en espèces et physiquement.

Le 11 juillet 2025, les « Fonds MR participants » ont exercé des contrats d’option arrivant à échéance pour un paiement d’exercice total de 889,6 millions de dollars. Plutôt que de prendre livraison, les parties ont converti les options en nouveaux contrats à terme réglés en espèces et physiquement, conservant l’exposition précédente ainsi que les droits de vote et de disposition inchangés.

L’exercice a été financé par une facilité de prêt garantie de 918,1 millions de dollars auprès d’une institution non affiliée. Le prêt est garanti par 10 982 616 actions nanties ainsi que des dérivés référencés à 10 268 954 actions, mais ne comporte aucune clause d’appel de marge ni de déclencheur de prix. Les droits de vote sur les actions nanties restent détenus par Mantle Ridge sauf en cas de saisie.

Aucun achat ou vente supplémentaire d’actions n’a été signalé ; l’amendement met principalement à jour les mécanismes des marchés financiers (conversion d’options, facilité de prêt) et confirme les pourcentages de propriété actuels. Les annexes comprennent l’accord de dépôt conjoint, les données de trading et les modèles des contrats dérivés.

Mantle Ridge LP, MR Cobalt Advisor LLC und Paul C. Hilal reichten am 15. Juli 2025 die Änderung Nr. 5 zu ihrem Schedule 13D für Dollar Tree (DLTR) ein. Die Gruppe hält weiterhin 13.640.904 Stammaktien (6,5 % wirtschaftliches Eigentum) und behält eine Gesamtexponierung von 23.296.508 Aktien (11,2 % der ausstehenden Aktien) durch Bar- und physisch abgewickelte Forward-Strukturen.

Am 11. Juli 2025 haben die „teilnehmenden MR-Fonds“ auslaufende Optionsvereinbarungen ausgeübt mit einer Gesamt-Ausübungssumme von 889,6 Millionen US-Dollar. Anstatt die Aktien zu übernehmen, wandelten die Parteien die Optionen in neue bar- und physisch abgewickelte Forward-Kontrakte um, die die vorherige Exponierung widerspiegeln, wobei Stimm- und Verfügungsrechte unverändert bleiben.

Die Ausübung wurde durch eine besicherte Kreditfazilität von 918,1 Millionen US-Dollar bei einer nicht verbundenen Institution finanziert. Der Kredit ist durch 10.982.616 verpfändete Aktien sowie Derivate, die sich auf 10.268.954 Aktien beziehen, besichert, enthält jedoch keine Margin-Call- oder Preis-Trigger-Klauseln. Die Stimmrechte an den verpfändeten Aktien verbleiben bei Mantle Ridge, sofern kein Zwangsvollstreckungsereignis eintritt.

Es wurden keine zusätzlichen Aktienkäufe oder -verkäufe gemeldet; die Änderung aktualisiert hauptsächlich die Kapitalmarktmechanismen (Optionsumwandlung, Kreditfazilität) und bestätigt die aktuellen Eigentumsanteile. Anlagen umfassen die gemeinsame Einreichungsvereinbarung, Handelsdaten und Vorlagen für die Derivatverträge.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

 

FORM 8-K

 

 

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 11, 2025

 

 

 

Aspira Women’s Health Inc.

(Exact name of Registrant as Specified in Its Charter)

 

 

 

Delaware   001-34810   33-0595156

(State or Other Jurisdiction

of Incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

12117 Bee Caves Road

Building III

Suite 100

   
Austin, Texas   78738
(Address of Principal Executive Offices)   (Zip Code)

 

Registrant’s Telephone Number, Including Area Code: 512 519-0400

 

(Former Name or Former Address, if Changed Since Last Report)

 

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)  

Name of each exchange on which registered

Common Stock, par value $0.001 per share   AWH   The Nasdaq Stock Market

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

 

 

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

On July 11, 2025, the Board (the “Board”) of Directors of the Company appointed Jane Pine Wood as a director of the Company.

 

Ms. Wood has over 38 years of experience as an attorney for laboratories and healthcare providers. She is currently employed by McDonald Hopkins, LLC, where she previously worked for nearly thirty years and served as a partner and a board member. Prior to rejoining McDonald Hopkins, Ms. Wood served as Chief Legal Counsel for BioReference Health, LLC.

 

There is no arrangement or understanding between Ms. Wood and any other person pursuant to which Ms. Wood was appointed as a director. There are no family relationships between Ms. Wood and any of the Company’s directors, executive officers or persons nominated or chosen by the Company to become a director or executive officer. Ms. Wood has not engaged in any related-person transactions required to be disclosed by Item 404(a) of Regulation S-K under the Securities Exchange Act of 1934, as amended.

 

-2-

 

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit No.   Description
     
99.1   Press Release dated July 15, 2025
     
104   Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

-3-

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  Aspira Women’s Health Inc.
     
Date: July 15, 2025 By: /s/ Michael Buhle
    Michael Buhle, Chief Executive Officer

 

-4-

 

Aspira Women`s Health Inc

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Diagnostics & Research
In Vitro & in Vivo Diagnostic Substances
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