[6-K] IMMUNOPRECISE ANTIBODIES LTD Current Report (Foreign Issuer)
AllianceBernstein Holding L.P. (NYSE: AB) – Schedule 13D/A Amendment No. 36 (dated 10 July 2025)
The filing discloses an Amended & Restated Master Exchange Agreement between AllianceBernstein L.P. ("AB") and Equitable Holdings, Inc. ("EQH") and its wholly-owned subsidiaries Alpha Units Holdings, Inc. and Alpha Units Holdings II, Inc.
- Issuance & Exchange: AB issued 19,682,946 new AB Units to EQH and its subsidiaries in exchange for an equal number of AB Holding Units, which were immediately retired.
- Post-transaction ownership:
- EQH – 81,445,154 AB Units (27.87% of units outstanding)
- Alpha Units Holdings – 75,851,289 units (25.95%)
- Alpha Units Holdings II – 41,934,582 units (14.34%)
- Combined indirect control via Equitable Holdings totals 199,231,025 units, or 68.17% of all AB Units outstanding.
- Purpose: The amendment updates Items 3, 4 and 5 of the original 13D to reflect the exchange and current ownership. No additional strategic plans or proposals under Items 4(a)-(j) are reported.
- Transaction window: Other than the exchange described, the reporting persons executed no transactions in the past 60 days.
The filing is administrative in nature, clarifying capital-structure changes and reaffirming EQH’s majority economic interest in AB.
AllianceBernstein Holding L.P. (NYSE: AB) – Modifica al Programma 13D/A n. 36 (datata 10 luglio 2025)
La dichiarazione rende noto un Accordo Master di Scambio Modificato e Ristabilito tra AllianceBernstein L.P. ("AB") ed Equitable Holdings, Inc. ("EQH") e le sue controllate al 100%, Alpha Units Holdings, Inc. e Alpha Units Holdings II, Inc.
- Emissione e Scambio: AB ha emesso 19.682.946 nuove AB Units a EQH e alle sue controllate in cambio di un pari numero di AB Holding Units, che sono state immediatamente ritirate.
- Proprietà post-transazione:
- EQH – 81.445.154 AB Units (27,87% delle unità in circolazione)
- Alpha Units Holdings – 75.851.289 unità (25,95%)
- Alpha Units Holdings II – 41.934.582 unità (14,34%)
- Il controllo indiretto combinato tramite Equitable Holdings ammonta a 199.231.025 unità, pari al 68,17% di tutte le AB Units in circolazione.
- Scopo: La modifica aggiorna gli Elementi 3, 4 e 5 del 13D originale per riflettere lo scambio e la proprietà attuale. Non sono riportati ulteriori piani strategici o proposte ai sensi degli Elementi 4(a)-(j).
- Finestra di transazione: A parte lo scambio descritto, i soggetti segnalanti non hanno effettuato altre operazioni negli ultimi 60 giorni.
La dichiarazione ha natura amministrativa, chiarendo le modifiche nella struttura del capitale e riaffermando l’interesse economico di maggioranza di EQH in AB.
AllianceBernstein Holding L.P. (NYSE: AB) – Enmienda No. 36 al Programa 13D/A (fecha 10 de julio de 2025)
La presentación revela un Acuerdo Maestro de Intercambio Modificado y Restablecido entre AllianceBernstein L.P. ("AB") y Equitable Holdings, Inc. ("EQH") y sus subsidiarias de propiedad total Alpha Units Holdings, Inc. y Alpha Units Holdings II, Inc.
- Emisión e intercambio: AB emitió 19,682,946 nuevas AB Units a EQH y sus subsidiarias a cambio de un número igual de AB Holding Units, que fueron inmediatamente retiradas.
- Propiedad posterior a la transacción:
- EQH – 81,445,154 AB Units (27.87% de las unidades en circulación)
- Alpha Units Holdings – 75,851,289 unidades (25.95%)
- Alpha Units Holdings II – 41,934,582 unidades (14.34%)
- El control indirecto combinado a través de Equitable Holdings suma 199,231,025 unidades, o el 68.17% de todas las AB Units en circulación.
- Propósito: La enmienda actualiza los Ítems 3, 4 y 5 del 13D original para reflejar el intercambio y la propiedad actual. No se reportan planes estratégicos adicionales ni propuestas bajo los Ítems 4(a)-(j).
- Periodo de transacción: Aparte del intercambio descrito, las personas que reportan no realizaron otras transacciones en los últimos 60 días.
La presentación es de carácter administrativo, aclarando cambios en la estructura de capital y reafirmando el interés económico mayoritario de EQH en AB.
AllianceBernstein Holding L.P. (NYSE: AB) – 13D/A 일정 수정 제36호 (2025년 7월 10일자)
본 제출서류는 AllianceBernstein L.P.("AB")와 Equitable Holdings, Inc.("EQH") 및 그 100% 자회사인 Alpha Units Holdings, Inc.와 Alpha Units Holdings II, Inc. 간의 수정 및 재작성된 마스터 교환 계약서를 공개합니다.
- 발행 및 교환: AB는 EQH와 그 자회사들에게 19,682,946개의 신규 AB 단위를 발행하고, 동일 수량의 AB Holding Units를 교환하여 즉시 소각하였습니다.
- 거래 후 소유권:
- EQH – 81,445,154 AB 단위 (전체 발행 단위의 27.87%)
- Alpha Units Holdings – 75,851,289 단위 (25.95%)
- Alpha Units Holdings II – 41,934,582 단위 (14.34%)
- Equitable Holdings를 통한 간접 통합 지분은 총 199,231,025 단위로, 전체 AB 단위의 68.17%에 해당합니다.
- 목적: 이번 수정은 원본 13D의 항목 3, 4, 5를 교환 및 현재 소유권 반영을 위해 업데이트한 것입니다. 항목 4(a)-(j)에 따른 추가 전략 계획이나 제안은 보고되지 않았습니다.
- 거래 기간: 본 교환 외에, 보고자는 지난 60일간 다른 거래를 하지 않았습니다.
본 제출서는 자본 구조 변동을 명확히 하고 EQH의 AB 다수 경제적 지분을 재확인하는 행정적 성격의 문서입니다.
AllianceBernstein Holding L.P. (NYSE : AB) – Amendement n°36 au Schedule 13D/A (daté du 10 juillet 2025)
Le dépôt révèle un Accord-cadre modifié et révisé d’échange entre AllianceBernstein L.P. ("AB") et Equitable Holdings, Inc. ("EQH") ainsi que ses filiales en propriété exclusive Alpha Units Holdings, Inc. et Alpha Units Holdings II, Inc.
- Émission et échange : AB a émis 19 682 946 nouvelles AB Units à EQH et ses filiales en échange d’un nombre égal d’AB Holding Units, qui ont été immédiatement annulées.
- Propriété après la transaction :
- EQH – 81 445 154 AB Units (27,87 % des unités en circulation)
- Alpha Units Holdings – 75 851 289 unités (25,95 %)
- Alpha Units Holdings II – 41 934 582 unités (14,34 %)
- Le contrôle indirect combiné via Equitable Holdings totalise 199 231 025 unités, soit 68,17 % de toutes les AB Units en circulation.
- Objectif : L’amendement met à jour les points 3, 4 et 5 du 13D original pour refléter l’échange et la propriété actuelle. Aucun plan stratégique supplémentaire ni proposition au titre des points 4(a)-(j) n’est signalé.
- Fenêtre de transaction : Hormis l’échange décrit, les personnes déclarantes n’ont effectué aucune transaction au cours des 60 derniers jours.
Le dépôt est de nature administrative, clarifiant les changements dans la structure du capital et réaffirmant l’intérêt économique majoritaire d’EQH dans AB.
AllianceBernstein Holding L.P. (NYSE: AB) – Änderung Nr. 36 zum Schedule 13D/A (vom 10. Juli 2025)
Die Einreichung legt eine geänderte und neu gefasste Master Exchange Agreement zwischen AllianceBernstein L.P. ("AB") und Equitable Holdings, Inc. ("EQH") sowie deren vollständig im Besitz befindlichen Tochtergesellschaften Alpha Units Holdings, Inc. und Alpha Units Holdings II, Inc. offen.
- Ausgabe & Tausch: AB gab 19.682.946 neue AB Units an EQH und deren Tochtergesellschaften aus, im Austausch gegen eine gleiche Anzahl von AB Holding Units, die sofort zurückgezogen wurden.
- Eigentumsverhältnisse nach der Transaktion:
- EQH – 81.445.154 AB Units (27,87 % der ausstehenden Einheiten)
- Alpha Units Holdings – 75.851.289 Einheiten (25,95 %)
- Alpha Units Holdings II – 41.934.582 Einheiten (14,34 %)
- Die kombinierte indirekte Kontrolle über Equitable Holdings beträgt insgesamt 199.231.025 Einheiten oder 68,17 % aller ausstehenden AB Units.
- Zweck: Die Änderung aktualisiert die Punkte 3, 4 und 5 des ursprünglichen 13D, um den Tausch und die aktuelle Eigentümerschaft widerzuspiegeln. Es werden keine zusätzlichen strategischen Pläne oder Vorschläge gemäß den Punkten 4(a)-(j) gemeldet.
- Transaktionszeitraum: Abgesehen von dem beschriebenen Tausch haben die meldenden Personen in den letzten 60 Tagen keine weiteren Transaktionen durchgeführt.
Die Einreichung ist administrativer Natur, klärt Änderungen in der Kapitalstruktur und bestätigt das wirtschaftliche Mehrheitsinteresse von EQH an AB.
- None.
- None.
Insights
TL;DR: Internal unit exchange boosts AB Unit count by 19.7 M, leaves Equitable Holdings with 68% control; limited immediate valuation impact.
The exchange replaces AB Holding Units with AB Units on a one-for-one basis. Economically, Equitable Holdings already owned the underlying interests, so cash flow rights remain unchanged. The market-free-float could shrink because the 19.7 M units issued went to an insider that already owned the economic stake, while AB Holding Units were retired. Headline dilution to outstanding AB Units (≈+7%) is counterbalanced by retirement of an economically equivalent class; therefore EPS or distribution per unit should not materially move. Control concentration is now more transparent: Equitable’s combined vehicles own 68.17% of outstanding units, reinforcing its ability to influence governance and distributions. Given that no further strategic moves are signaled, I view the filing as neutral for valuation but helpful for capital-structure clarity.
TL;DR: Exchange simplifies equity architecture and confirms Equitable’s super-majority voting power.
From a governance lens, converting AB Holding Units into AB Units collapses a dual-unit structure and eliminates potential misalignment between economic and voting rights. Equitable Holdings now exercises direct voting and dispositive control over nearly 70% of units, making minority-holder influence minimal. While this centralization can streamline decision-making, it also heightens control risk for public unitholders. Absence of future plans suggests the move is structural rather than strategic. Overall impact is neutral-to-slightly negative for governance balance but not overtly detrimental given long-standing majority status.
AllianceBernstein Holding L.P. (NYSE: AB) – Modifica al Programma 13D/A n. 36 (datata 10 luglio 2025)
La dichiarazione rende noto un Accordo Master di Scambio Modificato e Ristabilito tra AllianceBernstein L.P. ("AB") ed Equitable Holdings, Inc. ("EQH") e le sue controllate al 100%, Alpha Units Holdings, Inc. e Alpha Units Holdings II, Inc.
- Emissione e Scambio: AB ha emesso 19.682.946 nuove AB Units a EQH e alle sue controllate in cambio di un pari numero di AB Holding Units, che sono state immediatamente ritirate.
- Proprietà post-transazione:
- EQH – 81.445.154 AB Units (27,87% delle unità in circolazione)
- Alpha Units Holdings – 75.851.289 unità (25,95%)
- Alpha Units Holdings II – 41.934.582 unità (14,34%)
- Il controllo indiretto combinato tramite Equitable Holdings ammonta a 199.231.025 unità, pari al 68,17% di tutte le AB Units in circolazione.
- Scopo: La modifica aggiorna gli Elementi 3, 4 e 5 del 13D originale per riflettere lo scambio e la proprietà attuale. Non sono riportati ulteriori piani strategici o proposte ai sensi degli Elementi 4(a)-(j).
- Finestra di transazione: A parte lo scambio descritto, i soggetti segnalanti non hanno effettuato altre operazioni negli ultimi 60 giorni.
La dichiarazione ha natura amministrativa, chiarendo le modifiche nella struttura del capitale e riaffermando l’interesse economico di maggioranza di EQH in AB.
AllianceBernstein Holding L.P. (NYSE: AB) – Enmienda No. 36 al Programa 13D/A (fecha 10 de julio de 2025)
La presentación revela un Acuerdo Maestro de Intercambio Modificado y Restablecido entre AllianceBernstein L.P. ("AB") y Equitable Holdings, Inc. ("EQH") y sus subsidiarias de propiedad total Alpha Units Holdings, Inc. y Alpha Units Holdings II, Inc.
- Emisión e intercambio: AB emitió 19,682,946 nuevas AB Units a EQH y sus subsidiarias a cambio de un número igual de AB Holding Units, que fueron inmediatamente retiradas.
- Propiedad posterior a la transacción:
- EQH – 81,445,154 AB Units (27.87% de las unidades en circulación)
- Alpha Units Holdings – 75,851,289 unidades (25.95%)
- Alpha Units Holdings II – 41,934,582 unidades (14.34%)
- El control indirecto combinado a través de Equitable Holdings suma 199,231,025 unidades, o el 68.17% de todas las AB Units en circulación.
- Propósito: La enmienda actualiza los Ítems 3, 4 y 5 del 13D original para reflejar el intercambio y la propiedad actual. No se reportan planes estratégicos adicionales ni propuestas bajo los Ítems 4(a)-(j).
- Periodo de transacción: Aparte del intercambio descrito, las personas que reportan no realizaron otras transacciones en los últimos 60 días.
La presentación es de carácter administrativo, aclarando cambios en la estructura de capital y reafirmando el interés económico mayoritario de EQH en AB.
AllianceBernstein Holding L.P. (NYSE: AB) – 13D/A 일정 수정 제36호 (2025년 7월 10일자)
본 제출서류는 AllianceBernstein L.P.("AB")와 Equitable Holdings, Inc.("EQH") 및 그 100% 자회사인 Alpha Units Holdings, Inc.와 Alpha Units Holdings II, Inc. 간의 수정 및 재작성된 마스터 교환 계약서를 공개합니다.
- 발행 및 교환: AB는 EQH와 그 자회사들에게 19,682,946개의 신규 AB 단위를 발행하고, 동일 수량의 AB Holding Units를 교환하여 즉시 소각하였습니다.
- 거래 후 소유권:
- EQH – 81,445,154 AB 단위 (전체 발행 단위의 27.87%)
- Alpha Units Holdings – 75,851,289 단위 (25.95%)
- Alpha Units Holdings II – 41,934,582 단위 (14.34%)
- Equitable Holdings를 통한 간접 통합 지분은 총 199,231,025 단위로, 전체 AB 단위의 68.17%에 해당합니다.
- 목적: 이번 수정은 원본 13D의 항목 3, 4, 5를 교환 및 현재 소유권 반영을 위해 업데이트한 것입니다. 항목 4(a)-(j)에 따른 추가 전략 계획이나 제안은 보고되지 않았습니다.
- 거래 기간: 본 교환 외에, 보고자는 지난 60일간 다른 거래를 하지 않았습니다.
본 제출서는 자본 구조 변동을 명확히 하고 EQH의 AB 다수 경제적 지분을 재확인하는 행정적 성격의 문서입니다.
AllianceBernstein Holding L.P. (NYSE : AB) – Amendement n°36 au Schedule 13D/A (daté du 10 juillet 2025)
Le dépôt révèle un Accord-cadre modifié et révisé d’échange entre AllianceBernstein L.P. ("AB") et Equitable Holdings, Inc. ("EQH") ainsi que ses filiales en propriété exclusive Alpha Units Holdings, Inc. et Alpha Units Holdings II, Inc.
- Émission et échange : AB a émis 19 682 946 nouvelles AB Units à EQH et ses filiales en échange d’un nombre égal d’AB Holding Units, qui ont été immédiatement annulées.
- Propriété après la transaction :
- EQH – 81 445 154 AB Units (27,87 % des unités en circulation)
- Alpha Units Holdings – 75 851 289 unités (25,95 %)
- Alpha Units Holdings II – 41 934 582 unités (14,34 %)
- Le contrôle indirect combiné via Equitable Holdings totalise 199 231 025 unités, soit 68,17 % de toutes les AB Units en circulation.
- Objectif : L’amendement met à jour les points 3, 4 et 5 du 13D original pour refléter l’échange et la propriété actuelle. Aucun plan stratégique supplémentaire ni proposition au titre des points 4(a)-(j) n’est signalé.
- Fenêtre de transaction : Hormis l’échange décrit, les personnes déclarantes n’ont effectué aucune transaction au cours des 60 derniers jours.
Le dépôt est de nature administrative, clarifiant les changements dans la structure du capital et réaffirmant l’intérêt économique majoritaire d’EQH dans AB.
AllianceBernstein Holding L.P. (NYSE: AB) – Änderung Nr. 36 zum Schedule 13D/A (vom 10. Juli 2025)
Die Einreichung legt eine geänderte und neu gefasste Master Exchange Agreement zwischen AllianceBernstein L.P. ("AB") und Equitable Holdings, Inc. ("EQH") sowie deren vollständig im Besitz befindlichen Tochtergesellschaften Alpha Units Holdings, Inc. und Alpha Units Holdings II, Inc. offen.
- Ausgabe & Tausch: AB gab 19.682.946 neue AB Units an EQH und deren Tochtergesellschaften aus, im Austausch gegen eine gleiche Anzahl von AB Holding Units, die sofort zurückgezogen wurden.
- Eigentumsverhältnisse nach der Transaktion:
- EQH – 81.445.154 AB Units (27,87 % der ausstehenden Einheiten)
- Alpha Units Holdings – 75.851.289 Einheiten (25,95 %)
- Alpha Units Holdings II – 41.934.582 Einheiten (14,34 %)
- Die kombinierte indirekte Kontrolle über Equitable Holdings beträgt insgesamt 199.231.025 Einheiten oder 68,17 % aller ausstehenden AB Units.
- Zweck: Die Änderung aktualisiert die Punkte 3, 4 und 5 des ursprünglichen 13D, um den Tausch und die aktuelle Eigentümerschaft widerzuspiegeln. Es werden keine zusätzlichen strategischen Pläne oder Vorschläge gemäß den Punkten 4(a)-(j) gemeldet.
- Transaktionszeitraum: Abgesehen von dem beschriebenen Tausch haben die meldenden Personen in den letzten 60 Tagen keine weiteren Transaktionen durchgeführt.
Die Einreichung ist administrativer Natur, klärt Änderungen in der Kapitalstruktur und bestätigt das wirtschaftliche Mehrheitsinteresse von EQH an AB.
FAQ
What did AllianceBernstein (AB) announce in the July 10 2025 Schedule 13D/A?
How many AB Units does Equitable Holdings directly own after the exchange?
What is the combined ownership percentage of Equitable Holdings and its subsidiaries?
Did the reporting persons conduct other transactions in the past 60 days?
Will the issuance of 19.68 M units dilute existing AB unitholders?
Does the filing signal future strategic changes for AllianceBernstein?
