Pinetree Capital Ltd. 4

What Happened

• Pinetree Capital Ltd. (reported as a 10% owner) disposed of a total of 2,980,000 TruBridge (TBRG) shares in a change-of-control transaction tied to the company’s merger. The sales broke down as 2,130,000 shares at $26.25 each ($55,912,500) and 850,000 shares at $26.25 each ($22,312,500), for a combined proceeds of $78,225,000 (≈ $78.23M).
• These were not open-market sales but dispositions pursuant to the Agreement and Plan of Merger, under which each outstanding share of TruBridge was converted into the right to receive $26.25 in cash effective July 9, 2026.

Key Details

• Transaction date: July 9, 2026; Price: $26.25 per share; Total shares: 2,980,000; Total proceeds: $78,225,000.
• Transaction coded “U” in the filing — a disposition in connection with a change of control (the Merger).
• The Form 4 was filed July 10, 2026 (timely relative to the July 9 transaction).
• The filing was made jointly by L6 Holdings Inc. and Pinetree Capital Ltd.; each disclaims beneficial ownership except to the extent of any pecuniary interest (see footnotes).
• The excerpt provided does not state the number of TruBridge shares (if any) held by the reporting persons after the transaction.

Context

• These dispositions resulted from a cash-out merger (each common share cancelled and converted to $26.25 cash); this is different from an insider selling shares on the open market and generally reflects transaction mechanics of the deal rather than a standalone trading decision.
• Pinetree is a large institutional holder (not an individual executive). The filing also references related entities and officers (e.g., L6 Holdings and Damien Leonard) in the ownership structure and joint filing disclaimers.

Facts presented are from the Form 4 (Accession 0000921895-26-001794) and its footnotes; this summary avoids speculation about motives.