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[SCHEDULE 13D] OraSure Technologies Inc SEC Filing

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
SCHEDULE 13D
Rhea-AI Filing Summary

Altai Capital Management and related parties disclosed a 5.13% stake in OraSure Technologies (OSUR), reporting ownership of 3,748,836 shares. The position is held for accounts managed by Altai, acquired with about $11,461,291 of working capital. The filing states the stake was purchased for investment purposes and that Altai may engage with OraSure management, the board, shareholders or other parties about matters including strategy, governance and capital structure, but currently has no contracts or formal plans to effect specific changes. All shares are reported as shared voting and dispositive power; no sole voting power is claimed.

Positive
  • Significant minority stake: Disclosure of a 5.13% holding (3,748,836 shares) signals material investor interest.
  • Clear funding disclosure: The Reporting Persons state approximately $11,461,291 was used, improving transparency about acquisition size.
  • Willingness to engage: The filing confirms intent to communicate with management and the board, which can surface strategic improvements.
Negative
  • No sole voting power: All reported shares are under shared voting and dispositive power, limiting unilateral control.
  • No specific proposals or agreements: The Schedule 13D contains no contracts or definitive plans, creating uncertainty about concrete near-term changes.
  • Potential for future market activity: Reporting Persons reserve the right to buy or sell additional securities, which could increase volatility.

Insights

TL;DR: A 5.13% passive-to-active stake signals a meaningful investor presence that could pressure management but does not imply control.

The reported 3,748,836-share position represents a material minority holding large enough to attract attention from management and other shareholders. Altai used ~$11.5 million of working capital to build the stake and discloses an intention to engage on governance, strategy and capital allocation topics. The position is reported with shared voting and dispositive power, indicating influence through coordinated action rather than direct control. Absence of contractual arrangements limits immediacy of any activist campaign, but the filing preserves the option to pursue changes or additional purchases depending on developments.

TL;DR: Ownership and stated engagement plans create potential governance pressure without definitive takeover or proxy actions.

At 5.13% ownership, Altai is a significant shareholder that can credibly request meetings and propose governance or strategic reviews. The Schedule 13D explicitly contemplates discussions with the board and other stakeholders but disclaims any current specific proposals. The lack of sole voting power and absence of formal agreements mean any governance initiatives would likely start as dialogue and could escalate only if Altai increases exposure or files further disclosures. Investors should note the filing preserves a broad set of possible future actions.






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






SCHEDULE 13D






SCHEDULE 13D






SCHEDULE 13D


Altai Capital Management, L.P.
Signature:/s/ Rishi Bajaj
Name/Title:Rishi Bajaj, Authorized Signatory
Date:09/09/2025
Altai Capital Management, LLC
Signature:/s/ Rishi Bajaj
Name/Title:Rishi Bajaj, Authorized Signatory
Date:09/09/2025
Rishi Bajaj
Signature:/s/ Rishi Bajaj
Name/Title:Rishi Bajaj, Individually
Date:09/09/2025

FAQ

How many OraSure (OSUR) shares did Altai Capital report owning?

The filing reports ownership of 3,748,836 shares, representing 5.13% of outstanding common stock.

How much did Altai Capital spend to acquire the OSUR stake?

The Reporting Persons state they used approximately $11,461,291 in the aggregate to purchase the reported shares.

Does Altai Capital have control over OraSure (OSUR)?

No. The filing shows 0 sole voting power and the position is reported as shared voting and dispositive power, not control.

Will Altai Capital seek changes at OraSure (OSUR)?

Altai discloses they may engage with management or the board and could pursue changes to increase shareholder value, but no specific plans or proposals are currently identified.

When was this Schedule 13D filed and signed?

The reported event date is 09/02/2025 and the signatures on the filing are dated 09/09/2025.
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