General Atlantic goes whale: $60M Liftoff bet leads Jun 10 moves

Wednesday's EDGAR queue was led by a private equity monster move: General Atlantic deployed $60M into mobile ad tech company Liftoff Mobile (LFTO), becoming a 10%+ owner in one of the more consequential institutional disclosures of the week. On the sell side, Silver Lake added another ~$86M in Dell Class C sales — pushing its trailing-week total past $337M — while Viasat's CEO shaved $25.9M (27%) off his personal position. Borr Drilling served up the window's most conflicting signal: one director buying $5M and another selling $37.6M on the exact same day, with a $2.035B debt refinancing closing in the background.

Coverage: 2026-06-09T13:29 UTC → 2026-06-10T13:00 UTC (~23.5 hours)

General Atlantic — the $100B+ growth equity firm — established a 10%+ ownership position in Liftoff Mobile (Nasdaq: LFTO), a mobile advertising technology company, by deploying exactly $59,999,962 across two parallel Form 4 filings submitted June 9. 1 2

Both entities executed on June 5 and filed June 9. Each entity individually crossed the 10% beneficial ownership threshold — triggering director-level reporting obligations — and each now holds 25,315,646 shares. The two are related General Atlantic entities acting as a coordinated block, which means General Atlantic's combined economic interest is substantially larger than either line item alone. The $23.00 per-share purchase price and the exact $30M per entity suggest a negotiated block acquisition rather than open-market accumulation. 3

Borr Drilling (NYSE: BORR — an international shallow-water jack-up drilling rig operator) produced the window's most dissonant insider signal: two directors moved in opposite directions on the same date, with a nine-figure debt refinancing closing in the background. 4 1

Tor Olav Troim (Director) bought 1,063,000 shares at $4.70 on June 9 for $4,996,100, increasing his position 4% to 27,267,808 shares.

Thiago Mordehachvili (Director) sold 8,000,000 shares at $4.70 on the same day for $37,600,000 (SALE+OE — includes option exercise), reducing his position 17% to 38,199,677 shares.

Simultaneously, Borr completed a $2.035 billion senior secured note refinancing: $1.1 billion of 8.750% notes due 2032 and $935 million of 9.000% notes due 2034, replacing the 2028 (10.000%) and 2030 (10.375%) notes — with 93.84% of existing note holders tendering. 4

The SALE+OE classification on Mordehachvili's transaction means part of the $37.6M was funded by option exercises rather than a pure discretionary sale. Troim's open-market buy of nearly $5M on the same date complicates any single read: one director paying cash to add shares while another exits via option proceeds does not resolve to a clean directional signal.

Viasat (Nasdaq: VSAT — a satellite communications company building out its ViaSat-3 broadband satellite constellation) saw its Chairman and CEO Mark D. Dankberg sell 400,000 shares at $64.76 on June 8, for total proceeds of $25,903,224. The transaction was classified as SALE+OE (option exercise + sale). Post-transaction, Dankberg holds 1,088,326 shares — down 27% from his pre-sale position. 1 5

Director Theresa Wise also sold 2,500 shares at $69.00 ($172,500) via a 10b5-1 plan in the same window. The CEO's 400,000-share SALE+OE is notably large — a 27% reduction in a founder-CEO's personal holding is a more material shift than a routine diversification sale, even accounting for the option-exercise component.

Silver Lake — the technology-focused private equity firm running a structured exit of its Dell Technologies (NYSE: DELL) stake — disclosed five Form 4s on June 9 covering June 5 sales of approximately $86 million in DELL Class C shares at ~$403 per share. 6 7

Adding these disclosures to the prior filings in the current run — Jun 3 (~$84.6M) and Jun 4 (~$167M) — Silver Lake's aggregate DELL sales this week stand at approximately $337M+. 6

Per the most recent 13D/A (#14, filed June 5), Silver Lake held 46,485,717 Class C shares (7.2% common, 13.0% voting power) as of June 3, with 46,256,914 Class B shares also held. A 13D/A #15 or #16 to reflect the Jun 3-5 sales has not yet been filed.

Capri Holdings (NYSE: CPRI — the luxury fashion group behind Michael Kors, Versace, and Jimmy Choo) now has two back-to-back insider exits on the books. Director Stephen F. Reitman sold his entire 17,981 shares at $19.42 on June 8 for $349,166, filing June 9. 8

This follows Chief Legal & Sustainability Officer Krista A. McDonough's full exit on May 29 — 92,236 shares at $18.51 ($1,706,919). Two complete exits by a director and a C-suite officer within 12 days, both at prices well below the $57 Tapestry acquisition bid that U.S. regulators blocked in 2024. Neither filing disclosed a scheduled 10b5-1 plan. 8

Four separate cluster buy signals emerged from the Jun 9-10 window, spanning energy, cabinetry, silver mining, and Brazilian fintech.

PICS — PicPay (Brazilian digital bank): Four insiders at PicS N.V. (Nasdaq: PICS) — the U.S.-listed holding company for PicPay, Brazil's largest digital payments platform — collectively bought 262,838 shares at ~$11.00 for $2,890,603 on June 5 (filed June 8). 9 Confirmed participants include Director José Antonio Batista Costa (buying through Stichting JAB, 21,833 shares at $9.16) and Director William Rodney Pruett (new position, 25,000 shares at $9.10); the remaining two insiders in the cluster were not fully confirmed in available filings, and the $11.00 per-share figure is a weighted average across all four transactions. PICS reported Q1 2026 revenue of R$3.5 billion (up 70% year-over-year) and adjusted net income of R$169 million. 9

GRNT — Granite Ridge Resources (oil and gas): Four insiders at Granite Ridge Resources (NYSE: GRNT) bought 144,780 shares at $5.36 on June 9 for $776,048, with a fifth director (Matthew Reade Miller) separately buying 10,600 shares at $4.75 on the same day — combined cluster across both Form 4 batches exceeds $826K. The company operates non-operated oil and gas mineral and royalty interests. 10 Multiple Granite Ridge directors and the CEO have been buying consistently since May.

SSMR — Sunshine Silver Mining & Refining (gold and silver): Five insiders at Sunshine Silver Mining & Refining (Nasdaq: SSMR) bought 59,565 shares at $13.50 on June 5 for $804,128 (filed June 8), increasing the combined insider position by 30% to 261,352 shares. 1

MBC — Masterbrand (kitchen and bath cabinets): Three insiders at Masterbrand (NYSE: MBC) bought 76,587 shares at $8.50 on June 8 for $650,840 (filed June 9), lifting their combined holding 3% to 2,399,044 shares. 1

At MP Materials (NYSE: MP) — the only vertically integrated rare earth producer in the U.S., operating the Mountain Pass mine and magnet manufacturing facilities — COO Michael Stuart Rosenthal bought 10,000 shares at $54.30 on June 9 for $543,000. 11 This follows Rosenthal's May 20 purchase of 17,000 shares at $56.62. Post-transaction he holds 1,470,295 shares.

In the same window, CEO James H. Litinsky sold 185,167 shares in the $68-71 range on June 3 via a trust — continuing a heavy selling program that has included 400,000 shares in May 27-29 and 300,000 shares in May 12-13. COO buying while CEO sells through a trust is a genuine internal divergence, though the CEO's sales have been consistent enough to suggest a planned liquidation schedule rather than a sudden change of view. 11

Rigetti Computing (Nasdaq: RGTI — a quantum computing company and competitor to Quantinuum, with its Cepheus-1-108Q processor series) saw Director Ray O. Johnson sell 122,188 shares at $21.30 on June 8 for $2,602,841 (filed June 10). Post-transaction Johnson holds 180,481 shares — down 40%. 12 1

The RGTI insider sell trend across the last two weeks is worth noting: CTO David Rivas sold 499,328 shares (~$12.7M) on May 29; CEO Subodh Kulkarni sold 104,190 shares across May 28 and June 1; Director Clifton sold warrants. The cluster of executives reducing on a rising share price is a consistent pattern. Compare with Quantinuum (QNT), where a $24.65M cluster of open-market buys filed just two days prior ran in the opposite direction.

RPAY — vote results pending. Repay Holdings (Nasdaq: RPAY — a payments technology platform serving healthcare, auto-finance, and government verticals) held its annual shareholder meeting today, June 10. No 8-K with vote results had been filed as of this window's close (~13:00 UTC). Forager Fund (12.4%, or 11,106,648 shares) committed to withhold all five director votes; Veradace Capital Management (8.2%) did the same — combined activist opposition of approximately 20.6%. 13 Forager's 13D/A stated the fund "intend[s] to withhold their votes from all directors standing for election at the June 10, 2026 Annual Meeting" and that it "continue[s] to believe a transaction involving Repay may be in stockholders' best interests." 13 Under plurality voting rules a large withhold tally creates governance pressure but cannot unilaterally block incumbents. The post-meeting 8-K (Items 5.02 and 5.07) will confirm actual vote results — typically filed within 4 business days. Meanwhile, CenterBook Partners LP reduced its RPAY position by 46.4%, selling 449,174 shares and retaining 517,915 shares, per a MarketBeat report citing a 13F filing. 14

MSTR — routine tax-withholding sales. Strategy Inc. (Nasdaq: MSTR) CEO Le Phong sold 5,522 shares at $123.84 ($683,838) on June 9, while CFO Andrew Kang sold 1,949 shares ($241,363) and CAO Jeanine Montgomery sold 354 shares ($43,839) — all classified as SALE+OE (option exercise and same-day sale). 15 Combined June 9 insider sales: $968,040. These follow Phong's June 5 sale of 93,738 shares at $118.73 ($11.1M). The weekly Bitcoin treasury update 8-K is expected around June 15.

HUBC — HRT Financial LP exits completely. HRT Financial LP sold its entire remaining 143,772 HUBC shares at $2.04 on June 8 for $293,294, reducing its position to zero (filed June 9). 16 HRT had been cycling in and out of HUBC's post-reverse-split float at high velocity: bought 341K shares at $0.21 on June 5, sold 675K at $0.25 on June 4, bought 904K at $0.66 on June 3. The float is only 3.33 million shares. This is a full exit after a multi-day trading cycle.

NNDM — Form 144 filed. Nano Dimension (Nasdaq: NNDM — a 3D printing and additive manufacturing company) filed a Form 144 (proposed sale of registered securities) on June 10, while a PREC14A (preliminary contested proxy) filed June 5 indicates an ongoing proxy fight, and multiple Form 3/4 filings in early June point to recent board composition changes. No extraordinary general meeting date has been announced via 8-K. 17

SEER — Radoff-JEC proxy fight. The Radoff-JEC Group mailed an open letter to SEER (Seer, Inc. — a proteomics data-generation company) stockholders on June 8, urging support for three director nominees: Howard H. Berman, Joshua S. Horowitz, and Luis E. Rinaldini. A DFAN14A was filed concurrently. 18 SEER's annual meeting is July 28.

QNT — no new filings. All 12 Form 4s for the June 5 insider cluster ($24.65M at $60.00) were filed June 8. No new Quantinuum disclosures in the Jun 9-10 window.

JBLU — 13D/A filed. JetBlue Airways (Nasdaq: JBLU) had a Schedule 13D/A filed June 9 by an as-yet-unconfirmed large stockholder. The identity of the filer and any disclosed change of purpose were not confirmed within this window. 19

Scheduled sales (not directional signals): CrowdStrike CEO George Kurtz sold 2,540 shares at $686.53 ($1,743,779) on June 5 under a 10b-1 plan adopted January 6, 2026. 20 Sea Ltd. (NYSE: SE — the Singapore-based parent of Shopee and Garena) COO Ye Gang sold 20,000 shares at $84.18 ($1,683,583) on June 8; CCO Wang Yanjun sold an additional 1,600 shares. 51Talk Online Education (NYSE: COE) CEO Jack Jiajia Huang continued 10b5-1 plan buying of 165,240 ADS across May 29-June 5 for approximately $4,128,862. 21