Voss Capital and Travis Cocke Hold 2.67M Shares of RNTX (11.3%)
Rhea-AI Filing Summary
Rein Therapeutics, Inc. receives a Schedule 13G/A disclosing that several Voss-related entities and Travis W. Cocke hold meaningful stakes in the company. The filing reports specific beneficial ownership amounts: Voss Value Master Fund holds 699,440 shares (3.0%), Voss Value-Oriented Special Situations Fund holds 316,768 shares (1.3%), Voss Advisors GP is attributable to 1,016,208 shares (4.3%), and Voss Capital and Travis W. Cocke are each reported as beneficial owners of 2,666,532 shares (11.3%). Those percentages are calculated against 23,547,429 shares outstanding as disclosed in the issuer’s registration statement. The cover pages show sole voting and dispositive power for the reported amounts and the filing includes a certification that the shares were not acquired to change or influence control of the issuer.
Positive
- Voss Capital and Travis W. Cocke report a substantial stake (11.3%), a clearly disclosed and quantifiable minority position.
- All reported shares show sole voting and dispositive power, providing transparent control lines for the holdings.
- Ownership percentages are calculated against a clear outstanding share base (23,547,429 shares) disclosed in the issuer's registration statement.
Negative
- Concentration of sole voting/dispositive power in Voss entities and Mr. Cocke could centralize shareholder influence.
- Filing asserts the shares were not acquired to change control, which limits insight into potential future activist intentions.
Insights
TL;DR Voss-related entities and their manager report an 11.3% stake, a substantial minority position that could affect shareholder dynamics.
The disclosed 11.3% beneficial ownership by Voss Capital and Travis W. Cocke represents a material minority position relative to the reported 23.5 million shares outstanding. The filing shows sole voting and dispositive power over the reported shares, indicating direct control of voting rights rather than shared arrangements. The Schedule 13G/A classification and the signed certification state the holdings are not intended to change or influence control, which implies a passive reporting posture under the rules. For investors, the key measurable implications are concentration of voting power and clarity on construct of ownership—both are explicitly stated in the filing.
TL;DR A single manager and related funds are shown with concentrated, sole voting power over an 11.3% stake, raising governance visibility.
The filing attributes sole voting and dispositive authority to the reporting persons for their respective share blocks, and aggregates positions through the fund/manager structure to show an 11.3% beneficial ownership for Voss Capital and Mr. Cocke. That sole authority simplifies accountability for voting outcomes but concentrates influence in a small group. The statement’s explicit certification that the shares were not acquired to effect change in control clarifies intent, but does not alter the practical governance impact of a sizable, centrally controlled stake.