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Novavax shareholder Shah Capital to step back from activist role

By Reuters News

Oct 16 (Reuters) - Shah Capital, one of Novavax's NVAX.O top shareholders, said on Friday it no longer seeks to influence control of the vaccine maker after restructuring into a family office.

  • The investor has filed with the US Securities and Exchange Commission to voluntarily withdraw its registration as an investment adviser, it said in a regulatory filing

  • Himanshu Shah Family Office LLC has been established to manage the investments, the filing said‌

  • Himanshu Shah is the founder, president and chief investment officer of Shah Capital, Novavax's second-largest shareholder, according to LSEG data

  • Shah Capital reported beneficial ownership of 10.54 million Novavax shares, or about 6.39% of the company

  • The filing also disclosed that Shah Capital Fund LLC sold 2.87 million shares on October 5 at an average price of about $11.35 apiece

  • Himanshu Shah reported beneficial ownership of 10.66 million shares, representing about 6.46% of Novavax

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