Charge Enterprises Inc (fka CRGEQ)

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Arena Investors LP Acquires Significant Stake in Charge

GuruFocus Research
Mon, August 21, 2023 at 5:02 PM EDT

On August 21, 2023, Arena Investors LP, a New York-based investment firm, significantly increased its stake in Charge Enterprises Inc (NASDAQ:CRGE), a leading provider of electrical, broadband, and electric vehicle (EV) charging infrastructure services. This article provides an in-depth analysis of the transaction, the profiles of both Arena Investors LP and Charge Enterprises Inc, and an evaluation of CRGE's stock performance.

Details of the Transaction

The transaction took place on August 21, 2023, with Arena Investors LP adding 9,971,811 shares of Charge Enterprises Inc to its portfolio at a trade price of $0.6348 per share. This move had a 6.71% impact on the firm's portfolio, increasing its total holdings in CRGE to 21,574,039 shares. As a result, CRGE now represents 14.52% of Arena Investors LP's portfolio, making the firm a significant stakeholder with a 9.99% holding in the company.

Profile of Arena Investors LP

Arena Investors LP is an investment firm located at 405 Lexington Avenue, New York. The firm manages a portfolio of 58 stocks, with a total equity of $88 million. Its top holdings include Horizon Therapeutics PLC(NASDAQ:HZNP), Charge Enterprises Inc(NASDAQ:CRGE), Apollo Strategic Growth Capital II(NYSE:APGB), DP Cap Acquisition Corp I(NASDAQ:DPCS), and Capitalworks Emerging Markets Acquisition Corp(NASDAQ:CMCA). The firm's investment philosophy is primarily focused on the Financial Services and Communication Services sectors...........

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