Monitor for any future conversion of the 13G to a 13D, which would signal a shift from passive to activist intent. The locked-in ownership limitation suggests Sachem Head is not seeking to increase its stake beyond 9.99% in the near term.
Price Chart
Executive Summary
Sachem Head Capital Management LP filed an amended Schedule 13G disclosing a 9.99% beneficial ownership stake in Ionic Digital Inc. as of September 30, 2026. The filing is an amendment updating the prior passive stake disclosure, with no change in the reported ownership percentage or share count from the prior filing. The stake includes 4,450,000 shares of Class A common stock and warrants exercisable for 50,125 shares (subject to a 9.99% ownership limitation), with an additional 855,533 warrant shares excluded due to the limitation.
Key Financial Metrics
Key Facts
- Sachem Head Capital Management LP reports 9.99% beneficial ownership in Ionic Digital Inc. as of September 30, 2026.
- Total reported shares: 4,500,125 (4,450,000 Class A common shares + 50,125 warrant shares).
- 2,264,150 of the common shares were issued upon conversion of Series A Convertible Preferred Stock in connection with the company's direct listing; remainder acquired in open market transactions.
- Warrants to purchase 905,658 shares exist, but 855,533 are excluded from beneficial ownership due to a 9.99% ownership limitation.
- Sachem Head Funds have delivered irrevocable Lock-Down Elections preventing waiver of the ownership limitation.
- Percentage calculated based on 44,996,175 shares outstanding as of August 25, 2026, plus the 50,125 warrant shares included in the reported amount.
Financial Impact
No material financial impact; passive stake disclosure with no change in position from prior filing.
Risk Factors
- No change in stake — passive posture confirmed; no catalyst from this filing alone.
- Warrant overhang of 855,533 shares (excluded due to ownership limitation) could become exercisable if the limitation is ever waived or removed.
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| SC 13G/A Filing (Primary) | 0000902664-26-004122 |
| Document: 0000902664-26-004122-index.html | 0000902664-26-004122 |
| Document: 0000902664-26-004122.txt | 0000902664-26-004122 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 5d ago | SC 13D | $66.72 $64.03 | ▼ −4.03% | ▼ −2.85% | $66.38 (−0.51%) |
Oct 9, 2026 16d ago | SC 13G/A | $75.71 $75.59 | ▼ −0.16% | ▼ −0.15% | $66.38 (−12.32%) |
Sep 10, 2026 6w ago | Press Release | $79.88 $83.39 | ▲ +4.39% | ▲ +3.54% | $66.38 (−16.90%) |
Aug 19, 2026 9w ago | Press Release | $68.88 $68.73 | ▼ −0.22% | ▼ −0.63% | $66.38 (−3.63%) |
US Market Status
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