SEC Form SC 13G filed by Psychemedics Corporation

$PMD
Medical Specialities
Health Care
Get the next $PMD alert in real time by email
SC 13G 1 tm2332870d1_sc13g.htm SC 13G

 

  

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13G

 

Psychemedics Corporation

(Name of Issuer)

 

Common Stock

(Title of Class of Securities)

 

744375205

(CUSIP Number)

 

December 4, 2023

(Date of Event which Requires Filing of this Statement)

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

¨  Rule 13d-1(b)
x  Rule 13d-1(c)
¨  Rule 13d-1(d)

 

*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 the 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).

 

Continued on following pages

Page 1 of 10 Pages

 

 

 

 

 

 

CUSIP NO. 744375205 Page 2 of 10 Pages

 

CUSIP No.  744375205
(1) Names of reporting persons Powell Anderson Capital Partners LLC
(2) Check the appropriate box if a member of a group (a)
(see instructions) (b)
(3) SEC use only  
(4) Citizenship or place of organization DE
Number of shares beneficially owned by each reporting person with:  
(5) Sole voting power 0
(6) Shared voting power 312,199*
(7) Sole dispositive power 0
(8) Shared dispositive power 312,199*
(9) Aggregate amount beneficially owned by each reporting person 312,199
(10) Check if the aggregate amount in Row (9) excludes certain shares (see instructions)  
(11) Percent of class represented by amount in Row (9) 5.38%
(12) Type of reporting person (see instructions) IA
     

 

* Powell Anderson Capital Partners LLC is the Investment Manager of Powell Anderson Capital LP (the “Fund”) in which such shares referred to above are held. As a result, Powell Anderson Capital Partners LLC possesses the power to vote and dispose or direct the disposition of all the shares owned by the Fund.

 

† Based on a total of 5,801,761 shares outstanding of the Issuer as of November 6, 2023, as set forth in the Issuer’s most recent Form 10-Q, filed November 13, 2023.

 

 

 

 

CUSIP NO. 744375205 Page 3 of 10 Pages

 

CUSIP No.  744375205
(1) Names of reporting persons

Powell Anderson Capital LP

(2) Check the appropriate box if a member of a group (a)
(see instructions) (b)
(3) SEC use only  
(4) Citizenship or place of organization DE
Number of shares beneficially owned by each reporting person with:  
(5) Sole voting power 0
(6) Shared voting power 312,199
(7) Sole dispositive power 0
(8) Shared dispositive power 312,199
(9) Aggregate amount beneficially owned by each reporting person 312,199
(10) Check if the aggregate amount in Row (9) excludes certain shares (see instructions)  
(11) Percent of class represented by amount in Row (9) 5.38%
(12) Type of reporting person (see instructions) PN
     

 

† Based on a total of 5,801,761 shares outstanding of the Issuer as of November 6, 2023, as set forth in the Issuer’s most recent Form 10-Q, filed November 13, 2023.

 

 

 

 

CUSIP NO. 744375205 Page 4 of 10 Pages

 

CUSIP No.  744375205
(1) Names of reporting persons

R. Adam Lindsay

(2) Check the appropriate box if a member of a group (a)
(see instructions) (b)
(3) SEC use only  
(4) Citizenship or place of organization United States of America
Number of shares beneficially owned by each reporting person with:  
(5) Sole voting power 11,301*
(6) Shared voting power

312,199**

(7) Sole dispositive power

11,301*

(8) Shared dispositive power

312,199**

(9) Aggregate amount beneficially owned by each reporting person

323,500

(10) Check if the aggregate amount in Row (9) excludes certain shares (see instructions)  
(11) Percent of class represented by amount in Row (9) 5.58%
(12) Type of reporting person (see instructions) IN
     

 

*Includes 11,301 shares of Common Stock held by R. Adam Lindsay (“Lindsay”) in personal accounts of which Lindsay is the sole owner.

 

**Mr. Lindsay is the Managing Member of Powell Anderson Capital Partners LLC, the Investment Manager of Powell Anderson Capital LP. As a result, Mr. Lindsay possesses the power to vote and dispose or direct the disposition of all the shares beneficially owned by Powell Anderson Capital LP. Mr. Lindsay disclaims beneficial ownership of any of the shares held by the Fund.

 

† Based on a total of 5,801,761 shares outstanding of the Issuer as of November 6, 2023, as set forth in the Issuer’s most recent Form 10-Q, filed November 13, 2023.

 

 

 

 

CUSIP NO. 744375205 Page 5 of 10 Pages

 

Item 1(a).

Name of Issuer:
   
  Psychemedics Corporation (the “Issuer”).
   
Item 1(b). Address of the Issuer's Principal Executive Offices:
   
  289 Great Road, Acton, MA 01720
   
Item 2(a). Name of Person Filing
   
 

The names of the person filing this statement on Schedule 13G (collectively, the “Reporting Person”) are:

 

Powell Anderson Capital Partners LLC

Powell Anderson Capital LP

R. Adam Lindsay

   
Item 2(b). Address of Principal Business Office or, if None, Residence:
   
  5532 Lillehammer Lane, Suite 200, Park City, UT 84098
     

 

Item 2(c). Citizenship:
   
  Powell Anderson Capital Partners LLC is a Delaware limited liability company. Powell Anderson Capital LP is a Delaware limited partnership. R. Adam Lindsay is a citizen of the United States.
   
Item 2(d).

Title of Class of Securities:

 

 

Common Stock (the “Shares”).

 

Item 2(e). CUSIP Number:
 

 

744375205

 

 

 

 

 

CUSIP NO. 744375205 Page 6 of 10 Pages

 

Item 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b) or (c), check whether the person filing is a: 
   
 

(a) ¨ Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

 

(b) ¨ Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

 

(c) ¨ Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

 

(d) ¨ Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8).

 

(e) ¨ An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);

 

(f) ¨ An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);

 

(g) ¨ A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

 

(h) ¨ A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

 

(i) ¨ A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the

Investment Company Act of 1940 (15 U.S.C. 80a-3);Page 5 of 6 pages

 

(j) ¨ Group, in accordance with §240.13d-1(b)(1)(ii)(J)

   
Item 4. Ownership:
   
Item 4(a).

Amount Beneficially Owned:

 

Aggregate of all Reporting Persons: 323,500

Powell Anderson Capital Partners LLC - 312,199

Powell Anderson Capital LP – 312,199

 

R. Adam Lindsay - 323,500*

   
Item 4(b).

Percent of Class:

 

Aggregate of all Reporting Persons: 5.58%

Powell Anderson Capital Partners LLC – 5.38%

Powell Anderson Capital LP – 5.38%

R. Adam Lindsay - 5.58 %*

 

 

 

 

CUSIP NO. 744375205 Page 7 of 10 Pages

 

Item 4(c). Number of shares as to which such person has:
   
  (i)

Sole power to vote or direct the vote:

Powell Anderson Capital Partners LLC - 0

Powell Anderson Capital LP - 0

R. Adam Lindsay - 11,301 

     
  (ii)

Shared power to vote or to direct the vote:

Powell Anderson Capital Partners LLC – 312,199

Powell Anderson Capital LP - 312,199

R. Adam Lindsay – 312,199 

     
  (iii)

Sole power to dispose or to direct the disposition of:

Powell Anderson Capital Partners LLC - 0

Powell Anderson Capital LP - 0

R. Adam Lindsay - 11,301

     
  (iv)

Shared power to dispose or to direct the disposition of:

Powell Anderson Capital Partners LLC – 312,199

Powell Anderson Capital LP - 312,199

R. Adam Lindsay – 312,199 

 

*Mr. Lindsay is the Managing Member of Powell Anderson Capital Partners LLC, the Investment Manager of Powell Anderson Capital LP. As a result, Mr. Lindsay possesses the power to vote and dispose or direct the disposition of all the shares beneficially owned by Powell Anderson Capital LP.
Mr. Lindsay disclaims beneficial ownership of any of the shares held by the Fund.

 

 

 

 

CUSIP NO. 744375205 Page 8 of 10 Pages

 

Item 5. Ownership of Five Percent or Less of a Class:
   
  This Item 5 is not applicable.
   
Item 6. Ownership of More than Five Percent on Behalf of Another Person:
   
  This Item 6 is not applicable.
   
Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company:
   
  This Item 7 is not applicable.
   
Item 8. Identification and Classification of Members of the Group:
   
  See Exhibit A.
   
Item 9. Notice of Dissolution of Group:
   
  This Item 9 is not applicable.
   
Item 10. Certification:

 

  By signing below the Reporting Person certifies that, to the best of such person's knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having such purpose or effect.

 

 

 

 

CUSIP NO. 744375205 Page 9 of 10 Pages

 

SIGNATURES

 

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

 

Date: December 13, 2023  
Signature: /s/ R. Adam Lindsay  
Name: R. Adam Lindsay  
     
Powell Anderson Capital LP  
   
By: /s/ R. Adam Lindsay  
Name: R. Adam Lindsay  
Title: Managing Member of Powell Anderson Capital GP LLC, the General Partner of Powell Anderson Capital LP  
     
Powell Anderson Capital Partners LLC  
   
By: /s/ R. Adam Lindsay  
Name: R. Adam Lindsay  
Title: Managing Member  

 

 

 

 

CUSIP NO. 744375205 Page 10 of 10 Pages

 

EXHIBIT A

 

Joint Filing Agreement

 

The Undersigned agree that the statements on Schedule 13G with respect to the common stock of Psychemedics Corporation dated as of December 13, 2023, is, and any amendment thereto signed by each of the undersigned shall be, filed on behalf of each of them pursuant to and in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended.

 

Date: December 13, 2023  
     
Signature: /s/ R. Adam Lindsay  
Name: R. Adam Lindsay  
     
Powell Anderson Capital LP  
   
By: /s/ R. Adam Lindsay  
Name: R. Adam Lindsay  
Title: Managing Member of Powell Anderson Capital GP LLC, the General Partner of Powell Anderson Capital LP  
     
Powell Anderson Capital Partners LLC  
   
By: /s/ R. Adam Lindsay  
Name: R. Adam Lindsay  
Title: Managing Member  

 

 

Get the next $PMD alert in real time by email

Chat with this insight

Save time and jump to the most important pieces.

Recent Analyst Ratings for
$PMD

DatePrice TargetRatingAnalyst
More analyst ratings

$PMD
Press Releases

Fastest customizable press release news feed in the world

See more
  • Psychemedics Corporation Announces Reverse and Forward Stock Split

    DALLAS, Dec. 02, 2024 (GLOBE NEWSWIRE) -- Psychemedics Corporation (NASDAQ:PMD) (the "Company"), the world's leading provider of hair testing for drugs of abuse, today announced that, following the approval of the Company's stockholders at its Annual Meeting of Stockholders held on November 25, 2024, the Company's Board of Directors has approved a 1-for-5,000 reverse stock split of its common stock (the "Reverse Stock Split") followed immediately by a 5,000-for-1 forward stock split of its common stock (the "Forward Stock Split," and together with the Reverse Stock Split, the "Stock Split"), to be effective at 5:01 p.m. and 5:02 p.m., Eastern Time, respectively, on Tuesday, December 3, 202

    $PMD
    Medical Specialities
    Health Care
  • Psychemedics Corporation Reminds Stockholders to Cast Their Votes for Upcoming Annual Meeting of Stockholders

    DALLAS, Nov. 18, 2024 (GLOBE NEWSWIRE) -- Psychemedics Corporation (NASDAQ:PMD), a global leader in hair testing, reminds its stockholders to vote ahead of the Company's upcoming annual meeting of stockholders scheduled for November 25, 2024. Each stockholder's vote is important. The Company's Board of Directors recommends that stockholders vote "FOR" each proposal at the annual meeting. Instructions for voting your shares are set forth below. The record date for the annual meeting is October 8, 2024. If you have previously voted your shares and do not wish to change your vote, you do not need to take any action. If you have already voted or given your proxy and wish to change your vote,

    $PMD
    Medical Specialities
    Health Care
  • Psychemedics Corporation Reports Third Quarter 2024 Financial Results

    DALLAS, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Psychemedics Corporation (NASDAQ:PMD), the world's leading provider of hair testing for drugs of abuse, today announced financial results for the third quarter ending September 30, 2024. The Company's revenue for three months ended September 30, 2024, was $5.2 million versus $5.7 million for three months ended September 30, 2023, a decrease of 9%. Net loss was $0.5 million, or $0.09 per share, compared to a net loss of $2.1 million, or $0.36 per share, for the three months ended September 2024 and 2023, respectively. The Company's revenue for nine months ended September 30, 2024, was $15.3 million versus $17.1 million for nine months ended Septem

    $PMD
    Medical Specialities
    Health Care

$PMD
Insider Purchases

Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

See more

$PMD
Insider Trading

Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

See more

$PMD
SEC Filings

See more

$PMD
Leadership Updates

Live Leadership Updates

See more
  • Psychemedics Corporation Appoints Daniella Mehalik as VP - Finance

    ACTON, Mass., Nov. 27, 2023 (GLOBE NEWSWIRE) -- Psychemedics Corporation (NASDAQ:PMD), a global leader in hair testing for substance abuse, proudly announces the appointment of Daniella Mehalik as its new Vice President - Finance. In her new role, Ms. Mehalik will assume responsibility for directing and managing all financial activities at Psychemedics, including comprehensive oversight of external reporting and internal analysis. Reporting directly to CEO and President Brian Hullinger, she will play a pivotal role in steering the financial trajectory of the organization. Bringing over a decade of extensive experience to her new position, Ms. Mehalik possesses a robust background in acco

    $NBSE
    $PMD
    Biotechnology: Pharmaceutical Preparations
    Health Care
    Medical Specialities
  • Psychemedics Corporation Reports Third Quarter 2023 Financial Results

    ACTON, Mass., Nov. 09, 2023 (GLOBE NEWSWIRE) -- Psychemedics Corporation (NASDAQ:PMD), a leading provider of hair testing for drugs of abuse, today announced financial results for the third quarter ended September 30, 2023. The Company's revenue for the quarter ended September 30, 2023, was $5.7 million versus $6.5 million for the quarter ended September 30, 2022, a decrease of 12%. Net loss for the quarter ended September 30, 2023, was $(2.1 million) or $(0.36) per diluted share, versus net loss of $(97,000) or $(0.02) per diluted share, for the comparable period last year. The Company has initiated a series of restructuring changes that will align costs with current revenue trends. Res

    $PMD
    Medical Specialities
    Health Care
  • Psychemedics Corporation Appoints Shannon Shoemaker as Chief Revenue Officer

    ACTON, Mass., Sept. 21, 2023 (GLOBE NEWSWIRE) -- Psychemedics Corporation, the world's largest provider of hair testing for drugs of abuse, is pleased to announce the appointment of Shannon Shoemaker as its new Chief Revenue Officer. In this role, Shoemaker will be responsible for overseeing the company's revenue generation and growth strategies. With an exceptional track record of leadership and a strong background in revenue growth and optimization, Shoemaker brings a wealth of experience to her new position. Her appointment marks a significant milestone for Psychemedics Corporation as it continues to expand its presence in the rapidly evolving field of substance abuse testing. "We are

    $PMD
    Medical Specialities
    Health Care

$PMD
Financials

Live finance-specific insights

See more
  • Unveiling the Future of Drug Testing: Psychemedics Introduces Advanced 5-Panel Drug Screen

    ACTON, Mass., Oct. 27, 2023 (GLOBE NEWSWIRE) -- In an era marked by relentless change and the pressing need to adapt, Psychemedics, a pioneer in the drug screening industry, proudly announces the launch of a revolutionary, Advanced 5-Panel Drug Screen. This groundbreaking offering will transform the way organizations safeguard their workplaces, shifting the spotlight from marijuana to the paramount threat of fentanyl. Complemented by the detection of cocaine, opioids, PCP, and amphetamines, the advanced panel is a leap forward in drug screening technology. As we grapple with an ongoing labor shortage and with marijuana's legal landscape evolving in 49 states, it's clear that the time for

    $PMD
    Medical Specialities
    Health Care
  • Psychemedics Corporation Reports Second Quarter 2023 Financial Results

    ACTON, Mass., Aug. 11, 2023 (GLOBE NEWSWIRE) -- Psychemedics Corporation (NASDAQ:PMD), the world's largest provider of hair testing for drugs of abuse, today announced financial results for the second quarter ended June 30, 2023. The Company's revenue for the quarter ended June 30, 2023, was $5.5 million versus $6.5 million for the quarter ended June 30, 2022, a decrease of 15%. Net loss for the quarter ended June 30, 2023, was $(726,000) or $(0.13) per diluted share, versus net loss of $(338,000) or $(0.06) per diluted share, for the comparable period last year. In the second quarter, the labor shortage continued to have an adverse impact on our clients' use of hair testing in hirin

    $PMD
    Medical Specialities
    Health Care
  • Psychemedics Corporation Reports First Quarter 2023 Financial Results and Declares Cash Dividend

    ACTON, Mass., May 09, 2023 (GLOBE NEWSWIRE) -- Psychemedics Corporation (NASDAQ:PMD), the world's largest provider of hair testing for drugs of abuse, today announced financial results for the first quarter ended March 31, 2023, and the declaration of a cash dividend of $0.07 per share to be paid on June 8, 2023, to shareholders of record as of May 25, 2023. The Company's revenue for the quarter ended March 31, 2023, was $5.9 million versus $6.5 million for the quarter ended March 31, 2022, a decrease of 10%. Net loss for the quarter ended March 31, 2023, was $(384,000) or $(0.07) per diluted share, versus net income of $39,000 or $0.01 per diluted share, for the comparable period last ye

    $PMD
    Medical Specialities
    Health Care

$PMD
Large Ownership Changes

This live feed shows all institutional transactions in real time.

See more