SEC Form SC 13G/A filed

2/18/21 9:50:35 PM ET

Industrial Specialties

Health Care

Get the next $SRGA alert in real time by email

SC 13G/A 1 krensavagesrga13g12312020.txt KRENSAVAGE SRGA 13G 12.31.2020 -------------------------- OMB APPROVAL OMB Number: 3235-0145 Expires: February 28, 2009 Estimated average burden hours per response...10.4 -------------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G UNDER THE SECURITIES EXCHANGE ACT OF 1934 (Amendment No.__)* Surgalign Holdings, Inc. ------------------------------------------------------------------------------- (Name of Issuer) COMMON STOCK, $0.001 par value ------------------------------------------------------------------------------- (Title of Class of Securities) 786882C105 ------------------------------------------------------------ (CUSIP Number) December 31, 2020 ------------------------------------------------------------ (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 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 (THE "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). Page 1 of 8 Pages CUSIP NO. 86882C105 --------- - -------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) 26-2521297 Krensavage Partners, L.P. - -------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [X] (b) [ ] - -------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------- 5 SOLE VOTING POWER NUMBER OF NONE SHARES BENEFICIALLY ------------------------------------------------- OWNED BY 6 SHARED VOTING POWER EACH REPORTING 5,380,449 PERSON ------------------------------------------------- WITH 7 SOLE DISPOSITIVE POWER NONE ------------------------------------------------- 8 SHARED DISPOSITIVE POWER 5,380,449 - -------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,380,449 - -------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] (SEE INSTRUCTIONS) - -------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 6.61% - -------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) PN - -------------------------------------------------------------------------- Page 2 of 8 Pages CUSIP NO. 86882C105 --------- - -------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) 47-3027959 Krensavage Partners Too, L.P. - -------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [X] (b) [ ] - -------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------- 5 SOLE VOTING POWER NUMBER OF NONE SHARES BENEFICIALLY ------------------------------------------------- OWNED BY 6 SHARED VOTING POWER EACH REPORTING 1,042,959 PERSON ------------------------------------------------- WITH 7 SOLE DISPOSITIVE POWER NONE ------------------------------------------------- 8 SHARED DISPOSITIVE POWER 1,042,959 - -------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,042,959 - -------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] (SEE INSTRUCTIONS) - -------------------------------------------------------------------------- 11 PERCENTAGE OF CLASS REPRESENTED BY AMOUNT IN ROW 9 1.28% - -------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) PN - -------------------------------------------------------------------------- Page 3 of 8 Pages CUSIP NO. 86882C105 --------- - -------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) 26-2520930 Krensavage Asset Management, LLC - -------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [X] (b) [ ] - -------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------- 5 SOLE VOTING POWER NUMBER OF NONE SHARES BENEFICIALLY ------------------------------------------------- OWNED BY 6 SHARED VOTING POWER EACH REPORTING 6,423,408 PERSON ------------------------------------------------- WITH 7 SOLE DISPOSITIVE POWER NONE ------------------------------------------------- 8 SHARED DISPOSITIVE POWER 6,423,408 - -------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 6,423,408 - -------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] (SEE INSTRUCTIONS) - -------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 7.89% - -------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) CO - -------------------------------------------------------------------------- Page 4 of 8 Pages CUSIP NO. 86882C105 --------- - -------------------------------------------------------------------------- ITEM 1(A) NAME OF ISSUER: Surgalign Holdings, Inc. ITEM 1(B) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 520 Lake Cook Road, Suite 315 Deerfield, Illinois 60015 ITEM 2(a) NAME OF PERSON FILING: (i) Krensavage Partners, LP (KP) with respect to shares of Common Stock directly owned by it. (ii) Krensavage Partners Too, LP (KPT) with respect to shares of Common Stock directly owned by it. (iii) Krensavage Asset Management, LLC (KAM) with respect to shares of Common Stock beneficially owned by it. The foregoing persons are hereinafter sometimes collectively referred to as the Reporting Persons. Any disclosures herein with respect to persons other than the Reporting Persons are made on information and believe after making inquiry to the appropriate party. ITEM 2(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE, OR IF NONE, RESIDENCE: The address of the business office of each of the Reporting Persons is 610 Fifth Avenue, Suite 301 New York, NY 10020 ITEM 2(c) CITIZENSHIP: KP and KPT are limited partnerships organized under the laws of the State of Delaware. KAM is a Delaware limited liability company. ITEM 2(d) TITLE OF CLASS OF SECURITIES: Common Stock Page 5 of 8 Pages ITEM 2(e) CUSIP NUMBER: 86882C105 ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SS.240.13D-1(B) OR SS. 240.13d-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) [X] An investment adviser in accordance with ss.240.13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with ss.240.13d-1(b)(1)(ii)(F); (g) [ ] A parent holding company or control person in accordance with ss.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); (j) [ ] Group, in accordance with ss.240.13d-1(b)(1)(ii)(J). Page 6 of 8 Pages ITEM 4. OWNERSHIP: This Statement is being filed with respect to an aggregate of 6,423,408 shares of Common Stock, resulting in beneficial ownership as follows: 1. Krensavage Partners, L.P., (a) Amount Beneficially owned: 5,380,449 (b) Percent of Class: 6.61% The percentages used herein and in the rest of Item 4 are calculated based on 81,396,449 shares of Common Stock outstanding as of October 31, 2020, as disclosed in the Issuers most recent Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, as filed with the SEC on November 16, 2020. (c) (i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 5,380,449 (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition:5,380,449 2. Krensavage Partners Too, L.P. (a) Amount Beneficially owned:1,042,959 (b) Percent of Class: 1.28% (c) (i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote:1,042,959 (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition:1,042,959 3. Krensavage Asset Management, LLC (a) Amount Beneficially owned: 6,423,408 (b) Percent of Class: 7.89% (c) (i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote:6,423,408 (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: 6,423,408 Page 7 of 8 Pages ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS. As the discretionary investment manager of the KP and KPT LP's KAM has power to direct the voting and disposition of shares held by KP and KPT LP's. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [x]. ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON. N/A ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY OR CONTROL PERSON. N/A ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP. See Item 2. ITEM 9. NOTICE OF DISSOLUTION OF GROUP. N/A Page 8 of 8 Pages ITEM 10. CERTIFICATION. By signing below I certify that, to the best of my 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 that purpose or effect. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I hereby certify that the information set forth in this statement is true, complete and correct. February 12, 2021 /s/ Kelly Ireland ---------------------------------- Chief Operating Officer & Chief Compliance Officer Krensavage Asset Management, LLC 212-518-1970

Get the next $SRGA alert in real time by email

Date

Price Target

Rating

Analyst

9/28/2021

$1.50

Buy → Hold

Craig Hallum

SEC Form SC 13G/A filed

2/18/21 9:50:35 PM ET

$SRGA

Industrial Specialties

Health Care

Get the next $SRGA alert in real time by email

Date

Price Target

Rating

Analyst

9/28/2021

$1.50

Buy → Hold

Craig Hallum

SEC Form SC 13G/A filed

Crush Q3 2025 with the Best AI Executive Assistant

Recent Analyst Ratings for
$SRGA

SEC Form SC 13G/A filed

Crush Q3 2025 with the Best AI Executive Assistant

Recent Analyst Ratings for
$SRGA

$SRGA
Insider Trading

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

SEC Form 4: Lyle David covered exercise/tax liability with 1,329 shares, decreasing direct ownership by 2% to 83,307 units

SEC Form 4: Amoruso Paolo covered exercise/tax liability with 2,191 shares, decreasing direct ownership by 7% to 28,809 units

SEC Form 4: Thunander Christopher covered exercise/tax liability with 2,295 shares, decreasing direct ownership by 8% to 26,039 units

$SRGA
Press Releases

Fastest customizable press release news feed in the world

Surgalign Receives NASDAQ Delisting Notice Following its Chapter 11 Filing

Surgalign Enters Into Definitive Agreement to Sell Global Hardware and Biologics Business Through a Structured Sale Process Under Chapter 11 of the U.S. Bankruptcy Code

Surgalign to Participate at ISASS 2023 – 23rd Annual Conference Sponsored by the International Society for the Advancement of Spine Surgery and Medical Education Resources

$SRGA
SEC Filings

SEC Form 15-12G filed by Surgalign Holdings Inc.

SEC Form EFFECT filed by Surgalign Holdings Inc.

SEC Form EFFECT filed by Surgalign Holdings Inc.

$SRGA
Analyst Ratings

Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

Surgalign Holdings downgraded by Craig Hallum with a new price target

BTIG Research initiated coverage on Surgalign Holdings with a new price target

BTIG Research initiated coverage on Surgalign

$SRGA
Large Ownership Changes

This live feed shows all institutional transactions in real time.