10% owner Drawbridge Special Opportunities Fund LP sells 1,904,762 shares at $1.05; holdings drop to 177,339 shares
Drawbridge Special Opportunities Fund LP, holding a 10% stake, executed 8 separate sales totaling 1,904,762 shares for $2,000,000.10 at $1.05 per share on 2026-06-18, reducing its position from 2,082,101 shares to 177,339 shares. The sale occurred when the stock trades at $1.50 current price, well below the 52-week high of $2.75. The company is unprofitable on a full-year basis with net income of $-3,963,000.00 against quarterly revenue of $30,236,000.00, creating fundamental headwinds despite 4.1% annual revenue growth. The magnitude of this divestiture—a reduction of the fund's holdings by 91.5%—combined with the company's negative earnings profile and the current price positioned 45.4% below the 52-week peak, suggests a material shift in the fund's capital allocation away from this position.