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    SEC Form SC 13D/A filed by Magnite Inc. (Amendment)

    7/14/23 9:12:54 AM ET
    $MGNI
    Computer Software: Programming Data Processing
    Technology
    Get the next $MGNI alert in real time by email
    SC 13D/A 1 formsc13da.htm FORM SC 13D/A Edenbrook Capital: Form SC 13D/A - Filed by newsfilecorp.com

    UNITED STATES
    SECURITIES AND EXCHANGE COMMISSION
    Washington, D.C. 20549

    SCHEDULE 13D

    Under the Securities Exchange Act of 1934 (Amendment No. 1__)

    Magnite, Inc.

    (Name of Issuer)


    Common Stock, $0.00001par value per share

    (Title of Class of Securities)


    55955D100

    (CUSIP Number)

    Jonathan Brolin

    Edenbrook Capital, LLC

    116 Radio Circle

    Mount Kisco, NY 10549

    (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

    July 12, 2023

    (Date of Event which Requires Filing of this Statement)

    If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box  [  ].

    Note:  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See 240.13d-7(b) for other parties to whom copies are to be sent.

    *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

    The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).


    SCHEDULE 13D

    CUSIP No. 00386B109

    1 NAMES OF REPORTING PERSONS
    I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
    Edenbrook Capital, LLC
    2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
    (a)  [  ]
    (b)  [  ]
    3 SEC USE ONLY
     
    4 SOURCE OF FUNDS (See Instructions)
    AF
    5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)
    [  ]
    6 CITIZENSHIP OR PLACE OF ORGANIZATION
    New York
    NUMBER OF

    SHARES

    BENEFICIALLY

    OWNED BY

    EACH

    REPORTING

    PERSON

    WITH
    7 SOLE VOTING POWER
    -0-
    8 SHARED VOTING POWER
    5,601,473
    9 SOLE DISPOSITIVE POWER
    -0-
    10 SHARED DISPOSITIVE POWER
    5,601,473
    11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    5,601,473
    12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
    [  ]
    13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
    4.13%
    14 TYPE OF REPORTING PERSON (See Instructions)
    IA, OO
           


    Page 2

    SCHEDULE 13D

    CUSIP No. 00386B109

    1 NAMES OF REPORTING PERSONS
    I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
    Jonathan Brolin
    2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
    (a)  [  ]
    (b)  [  ]
    3 SEC USE ONLY
     
    4 SOURCE OF FUNDS (See Instructions)
    AF
    5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)
    [  ]
    6 CITIZENSHIP OR PLACE OF ORGANIZATION
    United States
    NUMBER OF

    SHARES

    BENEFICIALLY

    OWNED BY

    EACH

    REPORTING

    PERSON

    WITH
    7 SOLE VOTING POWER
    -0-
    8 SHARED VOTING POWER
    5,601,473
    9 SOLE DISPOSITIVE POWER
    -0-
    10 SHARED DISPOSITIVE POWER
    5,601,473
    11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    5,601,473
    12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
    [  ]
    13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
    4.13%
    14 TYPE OF REPORTING PERSON (See Instructions)
    IN
           


    Page 3

    Item 1. Security and Issuer

    This Amendment No. 1 ("Amendment No. 1") amends and supplements the statement on Schedule 13D filed with the Securities and Exchange Commission (the "SEC") on November 10, 2022, as subsequently amended on Schedule 13D (as amended thereby and hereby, the "Schedule 13D"), with respect to the Common Stock, $0.00001 par value (the "Common Stock"), of Magnite, Inc. (the "Issuer"). Capitalized terms used herein and not otherwise defined in this Amendment No.1 have the meanings set forth in the Schedule 13D. This Amendment No. 1 amends Items 3 and 5 as set forth below.

    Item 3. Source and Amount of Funds or Other Considerations

    Shares reported represent 5,601,473 shares of the Common Stock of the Issuer.

    The net investment costs (including commissions, if any) of the Common Stock directly owned by the private investment funds advised by Edenbrook is approximately $67,633,071.  The Common Stock was purchased with the investment capital of the private investment funds advised by Edenbrook.

    Item 5. Interest in Securities of the Issuer

    (a) As of the date hereof, Edenbrook and Mr. Brolin may be deemed to be the beneficial owners of 5,601,473 shares of Common Stock, constituting 4.13% of the shares of Common Stock, based upon 135,574,532 shares of Common Stock outstanding as of May 3, 2023, based on the information set forth in the March 31, 2023 quarterly report filed by the Issuer on May 10, 2023

    (b) Edenbrook and Mr. Brolin have the sole power to vote or direct the vote of 0 shares of Common Stock; has the shared power to vote or direct the vote of 5,601,473 shares of Common Stock; has the sole power to dispose or direct the disposition of 0 shares of Common Stock; and has the shared power to dispose or direct the disposition of 5,601,473 shares of Common Stock.

    (c) The transactions by the Reporting Persons in the securities of the Issuer during the past sixty days are set forth in Schedule A. All such transactions were carried out in open market transactions.

    (d) No person other than the Reporting Persons and the private investment funds advised by Edenbrook are known to have the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, the shares of Common Stock held by the Fund and the other private investment funds advised by Edenbrook.             

    (e) June 2, 2023


    Page 4

    Signature

    After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete, and correct.

    Date: July 14, 2023

     

       
    EDENBROOK CAPITAL, LLC  
       

    /s/ Jonathan Brolin

     

    Name:  Jonathan Brolin

    Title:  Managing Member

     
       
    /s/ Jonathan Brolin  
    JONATHAN BROLIN  


    Page 5

    Schedule A

    Trade Date

    Quantity

    Price

    1-Jun

          (30,826)

      13.0674

    1-Jun

          (20,000)

      12.9826

    2-Jun

          (60,000)

      13.3310

    2-Jun

          (32,800)

      13.3544

    6-Jun

          (45,000)

      13.4008

    6-Jun

          (40,000)

      13.4198

    6-Jun

          (24,200)

      13.4112

    7-Jun

          (35,000)

      13.6964

    7-Jun

          (24,935)

      13.6892

    8-Jun

            (8,692)

      13.2436

    9-Jun

          (85,000)

      13.4558

    9-Jun

            (3,000)

      13.5617

    12-Jun

                (485)

      13.4650

    13-Jun

          (80,000)

      13.5483

    13-Jun

          (12,667)

      13.6052

    13-Jun

          (12,500)

      13.5741

    14-Jun

          (30,176)

      13.6590

    14-Jun

          (14,565)

      13.6980

    14-Jun

          (16,200)

      13.6697

    15-Jun

          (38,644)

      13.7956

    15-Jun

          (18,865)

      13.8819

    16-Jun

          (48,439)

      13.7445

    16-Jun

          (20,000)

      13.7884

    23-Jun

          (39,142)

      13.3039

    26-Jun

          (22,600)

      13.4329

    27-Jun

          (24,078)

      13.4857

    27-Jun

          (14,307)

      13.4658

    28-Jun

          (59,904)

      13.7200

    28-Jun

          (60,031)

      13.7005

    29-Jun

          (14,616)

      13.9300

    29-Jun

            (2,485)

      13.8950

    30-Jun

            (1,906)

      13.9000

    3-Jul

          (35,000)

      13.7200

    10-Jul

          (25,000)

      13.8086

    11-Jul

          (85,000)

      14.5514

    11-Jul

          (25,000)

      15.1000

    11-Jul

          (84,984)

      14.5173

    12-Jul

          (28,728)

      15.3643

    12-Jul

          (20,000)

      15.3898

    13-Jul

    (10,700)

    15.5632

    13-Jul

    (21,131)

    15.6236

    13-Jul

    (15,000)

    15.6000



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