SEC Form SC 13G/A filed by Cytosorbents Corporation (Amendment)

2/14/23 1:08:38 PM ET

Medical/Dental Instruments

Health Care

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SC 13G/A 1 ctso13g_2022_1.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13d-1(b)(c), AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(b) (Amendment No. 1)* CytoSorbents Corporation ------------------------------------------------------------------------------- (Name of Issuer) Common stock ------------------------------------------------------------------------------- (Title of Class of Securities) 23283X206 ------------------------------------------------------------------------------- (CUSIP Number) December 31, 2022 ------------------------------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [_] 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 in 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 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). CUSIP No. 23283X206 13G 1. NAME OF REPORTING PERSONS Avenir Corporation I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) 54-1146619 _______________________________________________________________________________ 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_] (b) [X] _______________________________________________________________________________ 3. SEC USE ONLY _______________________________________________________________________________ 4. CITIZENSHIP OR PLACE OF ORGANIZATION State of Virginia, USA _______________________________________________________________________________ NUMBER OF 5. SOLE VOTING POWER SHARES 0 ________________________________________________________________ BENEFICIALLY 6. SHARED VOTING POWER OWNED BY 2,447,089 ________________________________________________________________ EACH 7. SOLE DISPOSITIVE POWER REPORTING 0 ________________________________________________________________ PERSON 8. SHARED DISPOSITIVE POWER WITH 2,447,089 _______________________________________________________________________________ 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,447,089 _______________________________________________________________________________ 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES NA [_] _______________________________________________________________________________ 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.61% _______________________________________________________________________________ 12. TYPE OF REPORTING PERSON IA _______________________________________________________________________________ CUSIP No. 23283X206 13G 1. NAME OF REPORTING PERSONS Peter C. Keefe _______________________________________________________________________________ 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_] (b) [X] _______________________________________________________________________________ 3. SEC USE ONLY _______________________________________________________________________________ 4. CITIZENSHIP OR PLACE OF ORGANIZATION UNITED STATES OF AMERICA _______________________________________________________________________________ NUMBER OF 5. SOLE VOTING POWER SHARES 0 ________________________________________________________________ BENEFICIALLY 6. SHARED VOTING POWER OWNED BY 2,447,089 ________________________________________________________________ EACH 7. SOLE DISPOSITIVE POWER REPORTING 0 ________________________________________________________________ PERSON 8. SHARED DISPOSITIVE POWER WITH 2,447,089 _______________________________________________________________________________ 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,447,089 _______________________________________________________________________________ 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES NA [_] _______________________________________________________________________________ 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.61% _______________________________________________________________________________ 12. TYPE OF REPORTING PERSON IN _______________________________________________________________________________ CUSIP No. 23283X206 13G 1. NAME OF REPORTING PERSONS James H. Rooney _______________________________________________________________________________ 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_] (b) [X] _______________________________________________________________________________ 3. SEC USE ONLY _______________________________________________________________________________ 4. CITIZENSHIP OR PLACE OF ORGANIZATION UNITED STATES OF AMERICA _______________________________________________________________________________ NUMBER OF 5. SOLE VOTING POWER SHARES 0 ________________________________________________________________ BENEFICIALLY 6. SHARED VOTING POWER OWNED BY 2,447,089 ________________________________________________________________ EACH 7. SOLE DISPOSITIVE POWER REPORTING 0 ________________________________________________________________ PERSON 8. SHARED DISPOSITIVE POWER WITH 2,447,089 _______________________________________________________________________________ 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,447,089 _______________________________________________________________________________ 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES NA [_] _______________________________________________________________________________ 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.61% _______________________________________________________________________________ 12. TYPE OF REPORTING PERSON IN _______________________________________________________________________________ CUSIP No. 23283X206 13G _______________________________________________________________________________ Item 1(a). Name of Issuer: CytoSorbents Corporation _______________________________________________________________________________ Item 1(b). Address of Issuer's Principal Executive Offices: 305 College Road East Princeton, NJ 08540 _______________________________________________________________________________ Item 2(a). Name of Person Filing: This Schedule 13G ("Schedule") is being filed on behalf of Avenir Corporation ("Avenir"), a Virginia corporation, Peter C. Keefe and James H. Rooney (Messrs. Keefe and Rooney along with Avenir are "Reporting Persons"). Avenir is an investment adviser registered under the Investment Advisers Act of 1940, as amended ("Advisers Act"). Messrs. Keefe and Rooney are portfolio managers and shareholders of Avenir. _______________________________________________________________________________ Item 2(b). Address of Principal Business Office, or if None, Residence: 277 South Washington Street, Suite 350 Alexandria, VA 22314 _______________________________________________________________________________ Item 2(c). Citizenship: State of Virginia, USA _______________________________________________________________________________ Item 2(d). Title of Class of Securities: Common Stock _______________________________________________________________________________ Item 2(e). CUSIP Number: 23283X206 _______________________________________________________________________________ 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 Exchange Act. (b) [_] Bank as defined in Section 3(a)(6) of the Exchange Act. (c) [_] Insurance company as defined in Section 3(a)(19) of the Exchange Act. (d) [_] Investment company registered under Section 8 of the Investment Company Act. (e) [X] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); (f) [_] An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); (g) [ ] A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G); (h) [_] A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act; (i) [_] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act; (j) [_] Group, in accordance with Rule 13d-1(b)(1)(ii)(J). If this statement is filed pursuant to Rule 13d-1(c), check this box. [_] CUSIP No. 23283X206 13G Item 4. Ownership. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: 2,447,089 (b) Percent of class: 5.61% (c) Number of shares as to which such person has: (i) Sole power to vote or to direct the vote 0 (ii) Shared power to vote or to direct the vote 2,447,089 (iii) Sole power to dispose or to direct the disposition of 0 (iv) Shared power to dispose or to direct the disposition of 2,447,089 _______________________________________________________________________________ Item 5. Ownership of Five Percent or Less of a Class. 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. [ ] _______________________________________________________________________________ Item 6. Ownership of More Than Five Percent on Behalf of Another Person. NA _______________________________________________________________________________ Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company. NA _______________________________________________________________________________ Item 8. Identification and Classification of Members of the Group. NA _______________________________________________________________________________ Item 9. Notice of Dissolution of Group. NA _______________________________________________________________________________ Item 10. Certifications. (a) The following certification shall be included if the statement is filed pursuant to Rule 13d-1(b): "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and 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. 23283X206 13G 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. February 14, 2023 ----------------------------------- Date /s/ James H. Rooney ----------------------------------- Signature James H. Rooney, President ----------------------------------- Name/Title /s/ Peter C. Keefe ----------------------------------- Signature Peter C. Keefe ----------------------------------- Name/Title /s/ James H. Rooney ----------------------------------- Signature James H. Rooney ----------------------------------- Name/Title CUSIP No. 23283X206 13G EXHIBIT A The undersigned agree that this Schedule 13G, dated February 14, 2023, relating to the Common Stock of CytoSorbents Corporation, shall be filed on behalf of the undersigned. Avenir Corporation /s/ James H. Rooney ----------------------------------- Signature James H. Rooney, President ----------------------------------- Name/Title /s/ Peter C. Keefe ----------------------------------- Signature Peter C. Keefe ----------------------------------- Name/Title /s/ James H. Rooney ----------------------------------- Signature James H. Rooney ----------------------------------- Name/Title

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Date

Price Target

Rating

Analyst

9/7/2023

$4.00

Buy

B. Riley Securities

10/14/2021

$10.00

Buy

B. Riley Securities

SEC Form SC 13G/A filed by Cytosorbents Corporation (Amendment)

2/14/23 1:08:38 PM ET

$CTSO

Medical/Dental Instruments

Health Care

Get the next $CTSO alert in real time by email

Date

Price Target

Rating

Analyst

9/7/2023

$4.00

Buy

B. Riley Securities

10/14/2021

$10.00

Buy

B. Riley Securities

SEC Form SC 13G/A filed by Cytosorbents Corporation (Amendment)

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SEC Form SC 13G/A filed by Cytosorbents Corporation (Amendment)

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Press Releases

CytoSorbents to Showcase Pioneering New Cardiac Surgery Data in Key Applications at the EACTS 2025 Annual Meeting in Copenhagen

CytoSorbents Provides DrugSorb-ATR Regulatory Update

CytoSorbents To Host Global Webinar on "Turning the Tide in Sepsis and Septic Shock: Real World Insights with CytoSorb" in Recognition of World Sepsis Day

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Insider Trading

Chief Executive Officer Chan Phillip P. was granted 105,600 shares, increasing direct ownership by 8% to 1,382,963 units (SEC Form 4)

SEC Form 4 filed by Director Jones Edward Raymond

SEC Form 4 filed by Director Bator Michael G.

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SEC Filings

Cytosorbents Corporation filed SEC Form 8-K: Regulation FD Disclosure, Other Events, Financial Statements and Exhibits

Cytosorbents Corporation filed SEC Form 8-K: Other Events, Financial Statements and Exhibits

Cytosorbents Corporation filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits

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Analyst Ratings

B. Riley Securities initiated coverage on CytoSorbents with a new price target

B. Riley Securities resumed coverage on CytoSorbents with a new price target

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Insider Purchases

Chief Financial Officer Mariani Peter J bought $19,294 worth of shares (20,000 units at $0.96), increasing direct ownership by 5% to 401,363 units (SEC Form 4)

Chief Financial Officer Mariani Peter J bought $27,975 worth of shares (31,363 units at $0.89), increasing direct ownership by 9% to 381,363 units (SEC Form 4)

Sobel Alan D. bought $30,001 worth of shares (22,557 units at $1.33), increasing direct ownership by 28% to 101,857 units (SEC Form 4)

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Leadership Updates

CytoSorbents Appoints Melanie Grossman, CPA as Vice President and Corporate Controller

CytoSorbents Appoints Thomas Shannon as Vice President of Marketing for North America

CytoSorbents And Converge Biotech Announce Strategic Partnership to Expand Sepsis and Critical Care Treatment with CytoSorb in India

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Large Ownership Changes

Amendment: SEC Form SC 13G/A filed by Cytosorbents Corporation

SEC Form SC 13G filed by Cytosorbents Corporation

SEC Form SC 13G filed by Cytosorbents Corporation

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Financials

CytoSorbents Reports Second Quarter 2025 Financial Results and Provides Business Update

CytoSorbents to Report Second Quarter 2025 Financial Results and Recent Business Highlights

CytoSorbents Reports First Quarter 2025 Financial Results and Provides Business Update

SEC Form SC 13G/A filed by Cytosorbents Corporation (Amendment)

Crush Q3 2025 with the Best AI Superconnector

Recent Analyst Ratings for $CTSO

SEC Form SC 13G/A filed by Cytosorbents Corporation (Amendment)

Crush Q3 2025 with the Best AI Superconnector

Recent Analyst Ratings for $CTSO

$CTSO Press Releases

CytoSorbents to Showcase Pioneering New Cardiac Surgery Data in Key Applications at the EACTS 2025 Annual Meeting in Copenhagen

CytoSorbents Provides DrugSorb-ATR Regulatory Update

CytoSorbents To Host Global Webinar on "Turning the Tide in Sepsis and Septic Shock: Real World Insights with CytoSorb" in Recognition of World Sepsis Day

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Chief Executive Officer Chan Phillip P. was granted 105,600 shares, increasing direct ownership by 8% to 1,382,963 units (SEC Form 4)

SEC Form 4 filed by Director Jones Edward Raymond

SEC Form 4 filed by Director Bator Michael G.

$CTSO SEC Filings

Cytosorbents Corporation filed SEC Form 8-K: Regulation FD Disclosure, Other Events, Financial Statements and Exhibits

Cytosorbents Corporation filed SEC Form 8-K: Other Events, Financial Statements and Exhibits

Cytosorbents Corporation filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits

$CTSO Analyst Ratings

B. Riley Securities initiated coverage on CytoSorbents with a new price target

B. Riley Securities resumed coverage on CytoSorbents with a new price target

$CTSO Insider Purchases

Chief Financial Officer Mariani Peter J bought $19,294 worth of shares (20,000 units at $0.96), increasing direct ownership by 5% to 401,363 units (SEC Form 4)

Chief Financial Officer Mariani Peter J bought $27,975 worth of shares (31,363 units at $0.89), increasing direct ownership by 9% to 381,363 units (SEC Form 4)

Sobel Alan D. bought $30,001 worth of shares (22,557 units at $1.33), increasing direct ownership by 28% to 101,857 units (SEC Form 4)

$CTSO Leadership Updates

CytoSorbents Appoints Melanie Grossman, CPA as Vice President and Corporate Controller

CytoSorbents Appoints Thomas Shannon as Vice President of Marketing for North America

CytoSorbents And Converge Biotech Announce Strategic Partnership to Expand Sepsis and Critical Care Treatment with CytoSorb in India

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Amendment: SEC Form SC 13G/A filed by Cytosorbents Corporation

SEC Form SC 13G filed by Cytosorbents Corporation

SEC Form SC 13G filed by Cytosorbents Corporation

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CytoSorbents Reports Second Quarter 2025 Financial Results and Provides Business Update

CytoSorbents to Report Second Quarter 2025 Financial Results and Recent Business Highlights

CytoSorbents Reports First Quarter 2025 Financial Results and Provides Business Update

Recent Analyst Ratings for
$CTSO

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$CTSO

$CTSO
Press Releases

$CTSO
Insider Trading

$CTSO
SEC Filings

$CTSO
Analyst Ratings

$CTSO
Insider Purchases

$CTSO
Leadership Updates

$CTSO
Large Ownership Changes

$CTSO
Financials