February 14, 2024 · Form 4 insider transaction
MAK CAPITAL ONE LLC sold 867,729 shares of AGILYSYS INC at $82.59 per share, a transaction worth $71.67M. The trade was recorded as open-market sale and disclosed on an SEC Form 4, filed 2 days after the transaction.
The sale transaction reported on this Form 4 is effected pursuant to an Underwriting Agreement dated February 14, 2024 between MAK Capital One LLC ("MAK Capital"), MAK Capital Fund LP ("MAK Fund"), MAK Capital Distressed Debt Fund I, LP ("MAK CDD Fund"), Agilysys, Inc., and BTIG, LLC, pursuant to which a total of 867,729 shares of common stock, without par value, of Agilysys, Inc. are being sold by MAK Fund and MAK CDD Fund (718,605 shares are being sold by MAK Fund and 149,124 shares are being sold by MAK CDD) to BTIG, LLC. The closing date for the sale transaction is February 20, 2024.; MAK Capital acts as the investment manager of MAK Fund and MAK CDD Fund. Michael A. Kaufman ("Mr. Kaufman") is the managing member of MAK Capital. Each of MAK Capital and Mr. Kaufman may be deemed to indirectly beneficially own the shares of Common Stock held by MAK Fund and MAK CDD Fund. Each of MAK Capital and Mr. Kaufman disclaims such beneficial ownership, except to the extent of its pecuniary interest therein. Each of MAK Capital, MAK Fund, MAK CDD Fund and Mr. Kaufman may be deemed to be a member of a "group" (within the meaning of Rule 13d-5 under the Act) whose members in the aggregate beneficially own more than 10% of the outstanding shares of Common Stock.