Shares of Hyliion Holdings Corp (NYSE:HYLN) were up sharply Wednesday after several SEC ownership filings were issued Tuesday after the market closed.
Axioma Ventures Stake: A 13D filing showed that venture cap firm Axioma Ventures owns a 10.8% stake in the company.
The venture cap firm was an early investor in Hyliion, leading a 2017 $21 million funding round. Axioma co-founder Howard Jenkins has been a director in Hyliion since 2016.
FJ Management Stake: A 13G filing showed that FJ Management owns a 5.4% stake in Hyliion.
At the time of its 2017 funding round, Hyliion highlighted FJ Management as a partner.
Buffett bought a 38.6% stake in Pilot Flying J in 2017. That stake will grow to 80% by the year 2023.
FJ Management owns 11.3% of Pilot Flying J and will own no stake in the company by 2023, with the Haslam family owning the remaining 20%.
Benzinga’s Take: Both of these companies were reported as shareholders at the time the SPAC deal was announced.
The filings could breathe new life into Hyliion shares, which are down 45% over the last month.
Shares of Hyliion traded up 6.6% to $28.25 at the time of publication.
Disclosure: The author is long shares of HYLN.