OraSure Technologies (OSUR) investor plans board nominees and declassification push

Rhea-AI Filing Summary

OraSure Technologies Inc. is the subject of an amended beneficial ownership filing by Altai Capital Management and related parties, who report owning 3,740,836 shares of common stock, representing 5.21% of the outstanding class. The reporting persons have shared voting and shared dispositive power over all of these shares and no sole voting or dispositive power.

Through this Amendment No. 2, the group discloses that on January 15, 2026, Osprey notified OraSure that it intends to nominate Rishi Bajaj and John Bertrand for election to the board at the company’s 2026 annual stockholder meeting. Osprey also plans to present a proposal asking the board to declassify itself so that all directors stand for election annually, and the reporting persons state they intend to solicit proxies in support of these director nominees and the declassification proposal.

Insights

Corporate governance analyst

Altai discloses a 5.21% stake and plans a proxy contest at OraSure.

The filing shows Altai Capital Management entities and Rishi Bajaj jointly reporting beneficial ownership of 3,740,836 OraSure common shares, or 5.21% of the class. Voting and investment authority over these shares is described as shared, with no sole voting or dispositive power reported for any of the filers.

The amendment updates their stated intentions: on January 15, 2026, Osprey notified OraSure that it plans to nominate Rishi Bajaj and John Bertrand for election to the board at the 2026 annual meeting and to present a declassification proposal so all directors would be elected annually. The group states it intends to solicit proxies from other stockholders to support both the nominees and the declassification proposal, indicating an organized governance campaign whose ultimate impact will depend on stockholder voting outcomes at that meeting.

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 2)

ORASURE TECHNOLOGIES INC

(Name of Issuer)

Common Stock, par value $0.000001 per share

(Title of Class of Securities)

68554V108

(CUSIP Number)

Rishi Bajaj
Altai Capital Management, L.P., PO Box 15203
Irvine, CA, 92623-9998
949-326-9612

Ele Klein & Adriana Schwartz
McDermott Will & Schulte LLP, 919 Third Avenue
New York, NY, 10022
212-756-2000

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

01/15/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 68554V108

1

Name of reporting person

Altai Capital Management, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 3,740,836.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 3,740,836.00

11

Aggregate amount beneficially owned by each reporting person

3,740,836.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

5.21 %

14

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13D

CUSIP No. 68554V108

1

Name of reporting person

Altai Capital Management, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 3,740,836.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 3,740,836.00

11

Aggregate amount beneficially owned by each reporting person

3,740,836.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

5.21 %

14

Type of Reporting Person (See Instructions)

HC, OO

SCHEDULE 13D

CUSIP No. 68554V108

1

Name of reporting person

Rishi Bajaj

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 3,740,836.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 3,740,836.00

11

Aggregate amount beneficially owned by each reporting person

3,740,836.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

5.21 %

14

Type of Reporting Person (See Instructions)

IN, HC

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, par value $0.000001 per share
(b)	Name of Issuer: ORASURE TECHNOLOGIES INC
(c)	Address of Issuer's Principal Executive Offices: 220 E FIRST ST, BETHLEHEM, PENNSYLVANIA , 18015.
Item 1 Comment: This Amendment No. 2 ("Amendment No. 2") amends the statement on Schedule 13D filed with the SEC on September 9, 2025 (as amended from time to time, the "Schedule 13D") with respect to the shares of Common Stock of the Issuer held for the account of Osprey and the Separately Managed Accounts. This Amendment No. 2 amends Item 4 as set forth below. Capitalized terms used herein and not otherwise defined in this Amendment No. 2 have the meanings set forth in the Schedule 13D.
Item 4.	Purpose of Transaction
	Item 4 is hereby amended and supplemented as follows: On January 15, 2026, Osprey submitted to the Issuer a notice of its intention to (i) nominate Mr. Bajaj and John Bertrand (together, the "Nominees") and (ii) present a proposal (the "Declassification Proposal") requesting that the Board take all necessary steps in its power to declassify the Board so that all directors are elected on an annual basis, in each case, at the Issuer's 2026 Annual Meeting of Stockholders (including any adjournment, postponement, rescheduling, or continuation thereof or any special meeting held in lieu thereof, the "Annual Meeting"). Osprey and the Reporting Persons intend to solicit proxies from the stockholders of the Issuer to elect the Nominees and adopt the Declassification Proposal.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Altai Capital Management, L.P.

Signature:	/s/ Rishi Bajaj
Name/Title:	Rishi Bajaj, Authorized Signatory
Date:	01/15/2026

Altai Capital Management, LLC

Signature:	/s/ Rishi Bajaj
Name/Title:	Rishi Bajaj, Authorized Signatory
Date:	01/15/2026

Rishi Bajaj

Signature:	/s/ Rishi Bajaj
Name/Title:	Rishi Bajaj, Individually
Date:	01/15/2026

FAQ

How much of OraSure Technologies (OSUR) does Altai Capital report owning in this Schedule 13D/A?

The reporting persons disclose beneficial ownership of 3,740,836 shares of OraSure Technologies common stock, representing 5.21% of the outstanding class.

Who are the reporting persons in the OraSure Technologies (OSUR) Schedule 13D/A Amendment No. 2?

The reporting persons are Altai Capital Management, L.P., Altai Capital Management, LLC, and Rishi Bajaj, each reporting the same 3,740,836 shares with shared voting and shared dispositive power.

What board changes are being sought at OraSure Technologies (OSUR) according to this filing?

Osprey, together with the reporting persons, intends to nominate Rishi Bajaj and John Bertrand for election as directors and to present a Declassification Proposal asking the board to declassify itself so all directors are elected annually.

When does Osprey plan to bring its proposals to OraSure Technologies (OSUR) stockholders?

The filing states that the nominations and the Declassification Proposal are intended to be presented at OraSure’s 2026 Annual Meeting of Stockholders, including any adjournment, postponement, rescheduling, continuation, or any special meeting held in lieu of that meeting.

Will Altai Capital and Osprey solicit proxies from other OraSure Technologies (OSUR) stockholders?

Yes. The filing states that Osprey and the reporting persons intend to solicit proxies from OraSure stockholders to elect the two nominees and adopt the Declassification Proposal at the 2026 annual meeting.

What type of security is covered in this OraSure Technologies (OSUR) Schedule 13D/A?

The filing covers common stock of OraSure Technologies Inc., with a stated par value of $0.000001 per share.