The cluster confirms insider alignment with the ebm-papst acquisition thesis at the private placement price of $24.97. Bertarelli's $219M open-market buy at that price, alongside Gies' $620M equity commitment, signals strong conviction. Monitor for the acquisition closing (expected year-end 2026) and any registration statement filing for the unregistered shares.
Price Chart
Executive Summary
A massive insider buying cluster at Madison Air Solutions, totaling $219.56M in open-market purchases, coincides with the company's $2.25B private placement to fund the transformative ebm-papst acquisition. Director Larry Gies also received $620M in restricted stock grants. The $219M purchase by 10% owner Bertarelli represents 1.6% of market cap, a highly material signal that aligns with the bullish acquisition thesis, though the cluster occurs just after a dilutive equity raise.
Key Financial Metrics
Key Facts
- 10% owner Ernesto Bertarelli purchased 8.77M shares for $219M at $24.97 on 2026-08-25, the same price as the private placement.
- Director Andrew La Force purchased 20,000 shares for $557K at $27.84 on 2026-08-25.
- Director Larry Gies received $620M in restricted stock grants (24.8M shares at $24.97) on 2026-08-25 as part of the private placement.
- The $219M open-market purchase represents ~1.6% of MAIR's $13.6B market cap, exceeding the 2% materiality threshold for insider clusters.
- The cluster follows a $2.25B private placement (8-K filed 2026-08-25) to fund the $5.4B ebm-papst acquisition (8-K filed 2026-08-17).
Financial Impact
Insider open-market purchases total $219.56M, or ~1.6% of MAIR's $13.6B market cap. Bertarelli's $219M buy is the dominant signal.
Risk Factors
- The $2.25B equity raise is highly dilutive (90M new shares, ~40% of pre-deal float).
- The ebm-papst acquisition carries integration and execution risk across cross-border operations.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-MAIR-1787900616861 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 5d ago | Press Release | $23.08 $22.76 | ▼ −1.39% | ▼ −0.86% | $23.47 (+1.69%) |
Oct 12, 2026 15d ago | Institutional Cluster | $23.29 $24.08 | ▲ +3.39% | ▲ +3.40% | $23.47 (+0.77%) |
Aug 27, 2026 8w ago | Insider Cluster | $26.33 $26.40 | ▲ +0.27% | ▲ +0.56% | $23.47 (−10.86%) |
Aug 25, 2026 9w ago | 8-K | $27.99 $28.51 | ▲ +1.86% | ▲ +1.84% | $23.47 (−16.15%) |
Aug 17, 2026 10w ago | 8-K | $29.57 $27.44 | ▼ −7.20% | ▼ −6.53% | $23.47 (−20.63%) |
Jul 30, 2026 12w ago | 8-K | $29.14 $29.06 | ▼ −0.27% | ▼ −0.98% | $23.47 (−19.46%) |
Jun 18, 2026 18w ago | 3 | $38.13 $38.56 | ▲ +1.13% | ▲ +1.44% | $23.47 (−38.45%) |
Jun 16, 2026 18w ago | 8-K | $38.15 $37.44 | ▼ −1.86% | ▼ −0.61% | $23.47 (−38.48%) |
Jun 5, 2026 20w ago | 8-K | $40.14 $39.59 | ▼ −1.37% | ▼ −1.60% | $23.47 (−41.53%) |
May 29, 2026 21w ago | Press Release | $43.47 $43.86 | ▲ +0.90% | ▲ +0.62% | $23.47 (−46.01%) |
US Market Status
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