Third Point LLC and CEO Daniel S. Loeb disclosed a 5.8% holding in Strata Critical Medical Inc. in an SEC filing and urged the company to weigh alternatives, including a potential sale.
A Schedule 13D filed Oct. 15 says Third Point and Loeb beneficially owned 5,126,511 Strata common shares, with a combined reported acquisition cost of $24,452,374. The calculation uses 88,466,806 Strata shares outstanding on July 28, 2026, according to the company’s Aug. 4 Form 10-Q.
The filing’s trading exhibit shows two Third Point funds acquired 58,743 shares on Oct. 12 at $4.55 apiece, followed by 67,768 shares the next day at $4.53 apiece. The filing lists Oct. 13 as the event date.
The investors said Strata’s operations lacked the scale to justify its overhead. They also questioned whether management’s incentive options reward decisions that build shareholder value, and said the shares were undervalued. They urged Strata to examine strategic alternatives, including a potential sale run by an investment bank.
The Schedule 13D says the investors may raise operational, governance and strategic matters with Strata’s management or board. In a separate passage, it says they may speak with other shareholders or third parties about Strata, its business, operations and strategic direction.
A prior Schedule 13G/A cited in the filing, dated Nov. 14, 2025, reported 5 million shares, or 5.79%, rounded to 5.8%. That calculation used 86,366,526 shares outstanding as of Nov. 3, 2025, a different share-count basis from the current disclosure.
