The back-to-back 13D/A filings (Sept 21 and Sept 23) suggest the activist is actively managing his position disclosure in real time. The small incremental purchase (0.26% of shares outstanding) and unchanged 'investment purposes' language indicate no escalation. Monitor for any future 13D/A that adds board representation demands or strategic review language, which would signal a shift from passive accumulation to active engagement.
Price Chart
Executive Summary
Jason Christopher Dorsett filed an amended Schedule 13D on September 23, 2026, reporting a small open-market purchase of 11,000 shares at $8.32/share on September 21, 2026, increasing his beneficial ownership to 4,204,028 shares (30.0% of outstanding common stock). The filing states the shares were acquired for investment purposes with no new demands or changes in purpose, representing a modest stake increase rather than an escalation of activist pressure.
Key Financial Metrics
Key Facts
- Jason Christopher Dorsett now beneficially owns 4,204,028 shares of RTB Digital common stock, representing approximately 30.0% of outstanding shares.
- On September 21, 2026, Dorsett purchased 11,000 shares at $8.32 per share in an open-market transaction using $91,520 of personal funds.
- The filing is an amendment to a prior Schedule 13D/A filed just 2 days earlier (September 21, 2026), indicating rapid sequential filings.
- Dorsett has sole voting and dispositive power over all 4,204,028 shares, with no shared power.
- The stated purpose remains investment purposes with no new demands, contracts, or arrangements disclosed.
Financial Impact
Purchase of 11,000 shares for $91,520 at $8.32/share; total stake value not calculable from filing alone (no current market price provided).
Risk Factors
- The 30.0% ownership stake is just below the 33.33% threshold that could trigger Nevada control share acquisition statutes, potentially limiting further accumulation without shareholder approval.
- Rapid sequential amendments may signal the activist is testing the company's response or preparing for a more aggressive stance.
- The company's recent 10-K (filed April 2026) provides context for potential financial distress that could motivate activist demands.
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| SC 13D/A Filing (Primary) | 0002146263-26-000006 |
| Document: 0002146263-26-000006-index.html | 0002146263-26-000006 |
| Document: 0002146263-26-000006.txt | 0002146263-26-000006 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 6, 2026 20d ago | 8-K | $8.73 $7.62 | ▼ −12.71% | ▼ −12.58% | $7.50 (−14.09%) |
Oct 2, 2026 24d ago | 8-K | $8.89 $8.09 | ▼ −9.00% | ▼ −9.42% | $7.50 (−15.64%) |
Sep 23, 2026 4w ago | SC 13D/A | $9.84 $8.86 | ▼ −9.96% | ▼ −9.28% | $7.50 (−23.78%) |
Sep 23, 2026 4w ago | Insider Buy | $9.84 $8.86 | ▼ −9.96% | ▼ −9.28% | $7.50 (−23.78%) |
Sep 22, 2026 4w ago | 8-K | $9.84 $8.86 | ▲ +9.96% | ▲ +9.28% | $7.50 (+23.78%) |
Sep 22, 2026 4w ago | 8-K | $9.55 $9.43 | ▼ −1.26% | ▼ −0.07% | $7.50 (−21.47%) |
Sep 21, 2026 5w ago | SC 13D/A | $8.44 $9.36 | ▲ +10.90% | ▲ +11.92% | $7.50 (−11.14%) |
Sep 21, 2026 5w ago | Insider Buy | $8.44 $9.36 | ▲ +10.90% | ▲ +11.92% | $7.50 (−11.14%) |
Sep 18, 2026 5w ago | 8-K | $8.44 $9.36 | ▲ +10.90% | ▲ +11.92% | $7.50 (−11.14%) |
Sep 18, 2026 5w ago | 8-K | $8.02 $10.27 | ▲ +28.05% | ▲ +26.79% | $7.50 (−6.48%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers