InnovAge owner TCO sells 1.5M shares at $9.25
The ten-percent-owner reporting persons disclosed that the sale was connected to underwriters’ exercise of the offering’s over-allotment option.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
4
Rhea-AI Filing Summary
TCO Group Holdings, L.P. sold 1,500,000 shares of InnovAge Holding Corp. (INNV) common stock on October 21, 2026, at $9.25 per share, in connection with the underwriters’ exercise of their over-allotment option. TCO held 101,076,555 shares after the sale. The named reporting entities are identified as ten-percent owners and disclaim beneficial ownership except to the extent of their pecuniary interest. No Rule 10b5-1 plan is reported for the sale.
Insider Trade Summary
Net Seller: 1,500,000 shares
Net Sell
1 txn
Insider
IGNITE AGGREGATOR LP, APAX X (GUERNSEY) USD AIV LP, IGNITE GP INC., Apax X EUR L.P., Apax X USD L.P., Apax X GP Co. Ltd
Role
10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner
Sold
1,500,000 shs ($13.88M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock, $0.001 par value F1, F2, F3, F4 | 1,500,000 | $9.25 | $13.88M |
Holdings After Transaction:
Common Stock, $0.001 par value — 101,076,555 shares (Indirect, See Footnotes)
Footnotes (4)
- F1. On October 21, 2026, TCO Group Holdings, L.P. sold 1,500,000 shares of common stock, par value $0.001, of InnovAge Holding Corp. (the "Issuer") in connection with the underwriters' exercise of their over-allotment option relating to the underwritten public offering pursuant to the Issuer's Registration Statement on Form S-3 (File No. 333-297888).
- F2. Represents shares of common stock held directly by TCO Group Holdings, L.P. The limited partners of TCO Group Holdings, L.P. may control the voting and dispositive power with respect to the common stock if Ignite Aggregator LP consents to a change to the delegation of authority to the committee of limited partners that controls TCO Group Holding, L.P. Ignite GP, Inc. serves as the general partner of Ignite Aggregator LP.
- F3. Ignite Aggregator LP's partnership interests are held by Apax X GP Co. Limited on behalf of Apax X EUR LP, Apax X (Guernsey) USD AIV LP and Apax X USD LP (collectively, the "Apax X Fund").
- F4. Apax X GP Co. Limited, a company incorporated in Guernsey, acts as the investment manager and is responsible for the decision-making on behalf of the Apax X Fund. Each of the foregoing entities disclaims beneficial ownership of the shares held of record by TCO Group Holdings, L.P. except to the extent of its pecuniary interest therein.
Key Figures
Shares sold: 1,500,000 shares
Sale price: $9.25 per share
Shares held after sale: 101,076,555 shares
3 metrics
Shares sold
1,500,000 shares
Sale by TCO Group Holdings, L.P. on October 21, 2026
Sale price
$9.25 per share
Sale on October 21, 2026
Shares held after sale
101,076,555 shares
TCO Group Holdings, L.P., following the October 21, 2026 sale
Key Terms
over-allotment option, dispositive power, pecuniary interest, beneficial ownership
4 terms
over-allotment option financial
"exercise of their over-allotment option"
An over-allotment option is a special agreement that allows underwriters to sell more shares than initially planned if demand is high. Think of it like a retailer offering extra units of a popular product to meet additional customer interest. This option helps ensure the full sale is completed and can also give investors extra shares if they want more.
dispositive power financial
"voting and dispositive power with respect to the common stock"
Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.
pecuniary interest financial
"except to the extent of its pecuniary interest therein"
beneficial ownership financial
"disclaims beneficial ownership of the shares held of record"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
Which entities were named as INNV reporting persons?
The reporting persons were Ignite Aggregator LP, Apax X (Guernsey) USD AIV LP, Ignite GP Inc., Apax X EUR L.P., Apax X USD L.P., and Apax X GP Co. Ltd, each identified as a ten-percent owner. The footnotes state that each foregoing entity disclaims beneficial ownership except to the extent of its pecuniary interest.
AI-generated analysis. How Rhea-AI works. Not financial advice.
