Coast2Coast (C2C), the largest shareholder in Ascendis (ASC), has over the past few weeks been forced to sell 9.4m ASC shares to meet margin calls by a bank and transfer 8.9m ASC shares to partially settle a convertible debenture issued in 2016. We show that C2C ownership has now dropped below the 25% level. We believe the decreased C2C ownership is positive for ASC corporate governance.
