Nordicus Partners Corp (NASDAQ:NORD) has seen a significant purchase of its common stock by one of its major shareholders, GK Partners ApS. According to recent filings, GK Partners acquired 5,500 shares of Nordicus Partners' common stock over two transactions. The purchases took place on September 3 and October 1, 2024, at a consistent price of $10.00 per share, totaling $55,000. The stock currently trades at $3.01, marking a significant decline from these insider purchase prices, with the shares down over 51% year-to-date.
Additionally, on November 12, 2024, GK Partners acquired 1,076,412 shares through transactions related to acquisitions by Nordicus Partners Corporation. These shares were part of a share exchange with Bio-Convert ApS and the acquisition of Orocidin A/S. These transactions were not direct market purchases and did not involve a cash exchange. According to InvestingPro data, Nordicus Partners currently has a market capitalization of $51.74 million and shows signs of being undervalued based on Fair Value analysis.
The report also details several warrant exercises by GK Partners, further increasing their stake in Nordicus Partners. These exercises occurred between August 30 and November 6, 2024, with each warrant allowing the conversion to common stock at $10.00 per share.
GK Partners ApS remains a significant shareholder in Nordicus Partners, with a post-transaction ownership of 3,349,568 shares.
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