Harraden Group Reports 2.56M-Share Passive Position in Republic Digital (RDAGU)
Rhea-AI Filing Summary
Harraden Circle and affiliated entities report beneficial ownership of 2,560,581 Class A shares of Republic Digital Acquisition Company, representing 8.54% of the class. The disclosed holdings are held with shared voting and shared dispositive power and there is no sole voting or dispositive power reported.
The ownership is attributed to four pooled vehicles: Harraden Circle Investors, LP (1,225,223 shares, 4.08%), Harraden Circle Special Opportunities, LP (738,579 shares, 2.46%), Harraden Circle Strategic Investments, LP (527,895 shares, 1.76%), and Harraden Circle Concentrated, LP (68,884 shares, 0.23%). The filing identifies Harraden adviser and related GP/LLC entities and Frederick V. Fortmiller, Jr. as managing member; the reporting persons certify the securities are not held to change or influence control.
Positive
- Material disclosure: Reporting persons declare beneficial ownership of 2,560,581 shares (8.54%), a reportable position above the 5% threshold
- Clear attribution: Filing identifies the funds, GP/LLC/adviser structure and the managing member, improving transparency for investors
Negative
- None.
Insights
TL;DR: A single investment group discloses a material passive stake of 8.54% in RDAGU, concentrated across four funds.
The filing confirms 2,560,581 shares (8.54%) held with shared voting and dispositive power and no sole authority. The position is split across four pooled funds with specific allocations, showing a diversified internal allocation rather than a single concentrated vehicle controlling votes. The certification indicates the holdings are reported as passive, which limits immediate governance implications but marks the Harraden group as a significant holder that could attract market attention.
TL;DR: Disclosure shows material ownership by an affiliated group but explicitly asserts no intent to change control.
The report names the investment manager, GP and managing member relationships that create indirect beneficial ownership attribution. Shared voting/dispositive power over 2,560,581 shares is disclosed while sole powers are reported as zero, and the signatory certifies the securities were not acquired to influence control. From a governance perspective, this is a material passive stake that requires monitoring but, per the filing, does not represent an asserted control effort.