Gates Frontier LLC sells 1,470,700 shares at $8.12 avg; still holds 17.19M (58% of pre-transaction) in unprofitable EVLV
Gates Frontier, a 10% owner, conducted 2 separate sales totaling 1,470,700 shares for $11,945,525.32 between September 10-11, reducing holdings by 7.9% to 17.19M shares. The sale occurred near the 52-week high of $8.76, with the blended average price of $8.12 representing favorable execution during a strong recent rally (+17.0% over 30 days, +73.5% over 90 days). Despite the substantial reduction, the filer retains a material 17.19M share position in a company currently unprofitable (full-year net income was negative) with recent quarterly net losses of $40,535,000.00 against quarterly revenue of $32,544,000.00, signaling ongoing operational challenges that the partial liquidation does not fully resolve.