Paul Glazer Reports 7.71M OLO Shares; Class A Ownership 6.38%
Rhea-AI Filing Summary
Glazer Capital, LLC and Paul J. Glazer report beneficial ownership of 7,709,679 shares of Olo Inc. Class A common stock, representing 6.38% of the class. The shares are held by funds and managed accounts for which Glazer Capital serves as investment manager; Mr. Glazer is the managing member. The filing states the reporting persons have no sole voting or dispositive power and exercise shared voting and dispositive power over all 7,709,679 shares. The statement clarifies the position is not intended to effect control of the issuer. The business address for the reporting persons is 250 West 55th Street, Suite 30A, New York, NY.
Positive
- Material stake disclosed: Reporting persons hold 7,709,679 shares representing 6.38% of Olo Class A common stock.
- Clear classification: Filing indicates the position is passive and not intended to change or influence issuer control.
- Shared authority transparency: Reports shared voting and dispositive power with zero sole power, clarifying governance influence.
Negative
- None.
Insights
TL;DR: A 6.38% passive position disclosed by an investment adviser and its managing member, indicating a meaningful but non-controlling stake.
The Schedule 13G shows Glazer Capital and Paul J. Glazer collectively report beneficial ownership of 7,709,679 Class A shares, equal to 6.38% of OLO's outstanding Class A common stock. The filing classifies the ownership as shared voting and dispositive power with no sole control, consistent with holdings managed on behalf of funds and accounts. The certification that the stake was not acquired to influence control suggests a passive investment under Rule 13d-1(b). For investors, the filing signals an institutional-sized position that could warrant monitoring for future activity, but it contains no indications of activist intent.
TL;DR: Ownership exceeds 5% disclosure threshold but is presented as passive with shared authority, so governance impact appears limited.
From a governance perspective, the report identifies shared voting and dispositive power rather than sole control, and explicitly disclaims any intent to change or influence issuer control. The managing member signs on behalf of the advisory entity and personally, which is standard for an adviser-led ownership disclosure. Absent additional filings (e.g., Schedule 13D) or statements of intent, this 6.38% holding is material for transparency but does not by itself indicate impending governance action.