Shah Capital Ends Novavax Activist Role
Shah Capital has ended its activist campaign at Novavax after restructuring into a family office. The major shareholder withdrew its investment adviser registration and sold millions of shares.
Insights:
Shah Capital dropped its activist stance toward Novavax, offloading 2.87 million shares at an average price of $11.35 apiece. The move follows the firm's restructuring into a family office registered with the United States Securities and Exchange Commission. Founder Himanshu Shah retains a 6.46% stake, easing pressure on the vaccine maker's management.
