M&A: BAMCO INC /NY/

Form Type: SCHEDULE 13D/A

Filing Date: 2025-01-07

Corporate Action: Acquisition

Type: Update

Accession Number: 000095010325000265

Comments: This Amendment No. 1 amends and supplements the original Schedule 13D filed by BAMCO Inc on December 31, 2024, regarding its holdings in FIGS, Inc. The Reporting Persons, including BAMCO Inc and Ronald Baron, have long been investors in FIGS, Inc. They have acquired an aggregate of 30,837,759 shares of Class A Common Stock at an average price of $7.3662 per share. The Reporting Persons do not support the proposed 'going private' transaction for FIGS. They plan to engage in discussions with FIGS’ Board and management about various matters including corporate governance, stockholder returns, and future strategies. On January 7, 2025, BAMCO Inc and others entered into a Put-Call Agreement regarding the acquisition of additional shares, allowing the Sellers to require BAMCO to purchase up to 19,039,999 shares at $6.25 per share and additional shares thereafter at the same price, dependent on satisfaction of certain conditions. This agreement aims to explore further investments and strategic partnership with FIGS while retaining the option to acquire more shares as the company’s circumstances evolve.

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