Beretta now holds a 25% stake, a level that often triggers further strategic actions such as board representation demands, a formal takeover bid, or a going-private transaction. The oversubscription indicates strong shareholder support for a sale. Watch for a potential follow-on tender offer, a merger proposal, or a proxy fight for board seats.
Price Chart
Executive Summary
Beretta Holding S.A. filed Amendment No. 8 to its Schedule 13D, reporting the final results of its tender offer for Sturm, Ruger & Co. The tender offer expired on October 15, 2026, with 6,094,325 shares tendered (oversubscribed). Beretta accepted 2,400,184 shares on a pro rata basis at $44.80 per share, for an aggregate purchase price of approximately $107.5 million. Post-offer, Beretta beneficially owns approximately 25.0% of RGR's outstanding shares, up from its prior stake.
Key Financial Metrics
Key Facts
- Beretta Holding S.A. accepted 2,400,184 shares in its tender offer at $44.80 per share.
- Total consideration for accepted shares is approximately $107,528,243.
- Tender offer was oversubscribed: 6,094,325 shares were validly tendered and not withdrawn.
- Proration factor was approximately 39.4% of tendered shares.
- Post-offer, Beretta beneficially owns approximately 25.0% of RGR's outstanding shares.
- Outstanding shares as of September 17, 2026: 15,978,256.
- This is the 8th amendment to the original Schedule 13D filed September 22, 2025.
Financial Impact
Beretta spent approximately $107.5 million to acquire 2,400,184 shares, increasing its stake to 25.0%.
Risk Factors
- RGR's board may resist Beretta's influence, leading to a protracted proxy fight or litigation.
- Beretta may not be able to acquire additional shares without triggering a mandatory offer under Delaware law or other regulatory hurdles.
- The $44.80 per share price may be below intrinsic value, potentially limiting further upside for remaining shareholders.
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| SC 13D/A Filing (Primary) | 0000921895-26-002826 |
| Document: 0000921895-26-002826-index.html | 0000921895-26-002826 |
| Document: 0000921895-26-002826.txt | 0000921895-26-002826 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 5d ago | SC 13D/A | $50.10 | awaiting T+20 | — | $45.47 (−9.24%) |
Oct 20, 2026 5d ago | SC TO-T/A | $48.74 | awaiting T+20 | — | $45.47 (−6.71%) |
Oct 16, 2026 9d ago | SC TO-T/A | $45.90 | awaiting T+20 | — | $45.47 (−0.94%) |
Sep 16, 2026 5w ago | 8-K | $40.14 $42.94 | ▲ +6.98% | ▲ +5.52% | $45.47 (+13.28%) |
Jun 4, 2026 20w ago | 8-K | $39.39 $37.65 | ▼ −4.42% | ▼ −3.04% | $45.47 (+15.44%) |
May 21, 2026 22w ago | Insider Cluster | $40.04 $40.49 | ▲ +1.12% | ▲ +2.54% | $45.47 (+13.56%) |
May 15, 2026 23w ago | Insider Cluster | $39.47 $39.47 | · 0.00% | ▼ −2.12% | $45.47 (+15.20%) |
May 8, 2026 24w ago | 8-K | $39.04 $38.77 | ▲ +0.69% | ▲ +0.72% | $45.47 (−16.47%) |
May 4, 2026 24w ago | 8-K | $41.77 $38.84 | ▼ −7.01% | ▼ −11.97% | $45.47 (+8.86%) |
May 4, 2026 24w ago | DEFA14A | $40.99 $38.94 | ▼ −5.00% | ▼ −10.65% | $45.47 (+10.93%) |
US Market Status
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