Fivespan reported 5.1% stake in BlackLine, expects talks ‘from time to time’

As previously reported, in a regulatory filing last Thursday, Fivespan Partners reported a 5.1% stake in BlackLine (BL), representing roughly 3.01M shares. The filing allows for activism. FiveSpan acquired the securities based on the belief that the securities were undervalued and represented an attractive investment opportunity. The investor from time to time expects to enter into discussions with directors and officers of the company in connection with its investment in the company. Such discussions may include, without limitation, a range of issues, including those relating to the business of the company, management, board composition, investor communications, management, operations, business, assets, capital allocation, dividend policy, financial condition, mergers and acquisitions strategy, overall business strategy, executive compensation and corporate governance.