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ORTEX Profile picture
@ORTEX
Jun 8, 2022 • 13 tweets • 5 min read • Read on X
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We have received numerous inquiries regarding $RDBX FF. Our preliminary review of the underlying data has not uncovered any errors in the estimate provided by S&P Global. Here’s what we have reviewed so far. Image
There were 12.62M Class A shares outstanding as of March 31, 2022, according to the most recent 10-Q. Class B shares do not trade publicly and therefore are excluded from FF.

sec.gov/ix?doc=/Archiv… Image
The largest holder is Seaport Global Asset Management, the SPAC sponsor that took #Redbox public in October 2021. The 10-K lists 10.43M shares held.

sec.gov/ix?doc=/Archiv… Image
But that total includes 6.06M shares that are underlying warrants that are not exercisable. When excluding those shares, Seaport’s holdings are 4.36M.

sec.gov/Archives/edgar… Image
The next largest holder of Class A shares is private equity firm Apollo, which acquired $RDBX in 2016. Apollo’s ownership is disclosed under Redwood Holdco, which it owns and controls. Apollo/Redwood holds 1.76M Class A shares and 32.77M Class B shares.
Standard General holds 979K, Feis holds 820K, Balyasny/Atlas holds 750K. All of these strategic 5% holders collectively hold 8.67M Class A shares.

(table above)
It’s unclear why insider holdings are not detailed in the 10-K as they should be, but we can turn to Form 4 filings instead. CEO Galen Smith’s most recent Form 4 from December shows 576K shares.

sec.gov/Archives/edgar… Image
Likewise for former CFO Kavita Suthar and his 345.6K shares.

sec.gov/Archives/edgar… Image
Same for Chief Strategy and Digital Officer Jason Kwong and his 345.6K shares.

sec.gov/Archives/edgar… Image
COO Michael Chamberlain holds 172.8K.

sec.gov/Archives/edgar… Image
CTO Stephen Lavin holds 172.8K.

sec.gov/Archives/edgar… Image
These are the largest insider holdings and total 1.61M. Excluding just the holdings noted in this thread already brings FF down to 2.34M. Excluding other smaller holdings then brings $RDBX FF down to 1.95M, which we believe is the correct estimate.
If you think we missed anything, let us know (respectfully) and we are always happy to look again in order to get the most accurate data on ORTEX.

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More from @ORTEX

ORTEX Profile picture
Jun 9, 2022
We generally ignore comments like this that usually aren’t worth our time responding to, but there are a few inaccuracies in this @DonutShorts thread that are worth addressing.
For starters, our business is to provide data and analytics to investors, which means our mission is to provide the most accurate data that we can. We are not trying to "foment" anything.
We do not calculate or estimate FF internally, but instead rely on S&P Global Market Intelligence @SPGlobal to provide. Presumably, @DonutShorts knows and appreciates that S&P is one of the largest and most authoritative sources for market data on Earth.
Read 14 tweets
ORTEX Profile picture
Aug 24, 2021
#SPRT - Short Squeeze Trading Signals

All 3 types of #ShortSqueeze signal were generated based on the recent price increase and the high shorting level in $SPRT

ORTEX Trading Signals are based on historical performance and are not investment advice.
#ORTEX Trading Signals are based on historical statistics and machine learning. #ShortSqueeze signals, in particular, are rare, and the duration of the price momentum is particularly hard to estimate.
#ORTEX #ShortSqueeze Trading signals identifies Squeeze events with a high conviction, but may trigger too late, or recommend a holding period that would result in a significant loss.
Read 4 tweets
ORTEX Profile picture
May 16, 2021
We have had a lot of questions after yesterday's tweet about the #ShortSqueeze Signal in #AMC.

Below are some answers to the most common ones.

If you have emailed our support please bear with us, we will reply to your email. Please also remember to use the help on the platform.
"44.53% mean return" refers to the history of this trading signal in $AMC. The signal has happened 12 times in the past, the average % change in the share price 6 trading days after the signal has been +44.53%
#ORTEX generate many different types of trading signals. you can read more about them here - public.ortex.com/trading-signal…
as well as on the help section on the platform.
Read 6 tweets
ORTEX Profile picture
May 15, 2021
#AMC - Short Squeeze Trading Signal

A #ShortSqueeze signal was generated based on the recent price increase and the high shorting level in $AMC

The mean return for this signal is 44.53%

ORTEX Trading Signals are based on historical performance and are not investment advice.
#ORTEX Trading Signals are based on historical statistics and machine learning. #ShortSqueeze signals, in particular, are rare, and the duration of the price momentum is particularly hard to estimate.
#ORTEX #ShortSqueeze Trading signals identifies Squeeze events with a high conviction, but may trigger too late, or recommend a holding period that would result in a significant loss.
Read 4 tweets

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