Moshe Moalem Discloses 8.49% Stake in Nano-X Imaging
The filing says Moalem opposes Nano-X's plan to increase its authorized share capital to 450,000,000 shares and intends to vote against it at a Nov. 18 special meeting.
Moshe Moalem reported beneficial ownership of 6,675,413 Nano-X Imaging Ltd. ordinary shares, or 8.49% of the class, and opposes a proposed increase in the company's authorized share capital, according to a Schedule 13D filed Oct. 29.
Moalem, whom the filing describes as an entrepreneur and investor, directly holds 5,678,682 shares. Another 996,731 are held by Tanir Corporation BVI, a company the filing says Moalem wholly owns and controls.
The proposal would increase Nano-X's authorized share capital from 150,000,000 to 450,000,000 ordinary shares and goes to a special general meeting on Nov. 18. The filing says Moalem is "concerned about the scale of the proposed increase, its potential to facilitate substantial further dilution of existing shareholders" and currently intends to vote against it.
Moalem also intends to ask Nano-X not to issue additional voting shares before the Nov. 2 record date for the meeting and may consider legal action to protect shareholder rights, according to the filing.
The filing says Moalem is dissatisfied with the company's performance and may seek board changes, nominate directors or solicit proxies, including through a contested election. It says no candidates have been identified.