Energizer Director and 10% Owner Aqua Capital Acquires 120,000 Shares Across Multi-Day Trading

Summary of Aqua Capital's Share Acquisitions

Aqua Capital, Ltd., a director and 10% owner of Energizer Holdings, Inc., disclosed a series of share purchases executed during late July 2026. According to the Form 4 filing, the entity acquired a total of 120,000 shares of Energizer common stock across six separate transactions conducted on July 23 and July 24, 2026. Each transaction involved the purchase of 20,000 shares, with the weighted average prices varying across the transactions as market conditions fluctuated during the two-day period.

The filing details that Aqua Capital's direct beneficial ownership of Energizer common stock increased from 7,880,000 shares to 8,000,000 shares following the reported transactions. The incremental acquisitions represent a measured expansion of the entity's stake in the battery and home products manufacturer. All shares acquired were recorded as direct holdings, and the filing indicates that Aqua Capital executed the purchases in the open market at prevailing market prices during the specified trading dates.

Transaction Pricing and Execution Details

The three acquisitions executed on July 23, 2026, involved weighted average prices of $20.084, $20.3675, and $20.2942 per share, respectively. According to the filing, the individual transactions comprising each day's purchases spanned narrower price ranges. For instance, the first purchase on July 23 consisted of shares acquired at prices ranging from $19.98 to $20.2050 per share, while the second purchase that same day covered a price range of $20.27 to $20.49 per share.

The three acquisitions completed on July 24, 2026, were executed at weighted average prices of $20.9326, $21.0866, and $20.9348 per share. The filing indicates that on July 24, share prices generally moved higher compared to the previous trading day. The filing notes that Aqua Capital undertakes to provide complete information regarding the specific number of shares purchased at each individual price within the disclosed ranges, should the Energizer Holdings board, any security holder, or the Securities and Exchange Commission request such detail.

Beneficial Ownership Structure and Related Parties

The disclosure reveals a complex ownership structure underlying Aqua Capital's stake in Energizer. According to the filing, Aqua Capital is a wholly owned subsidiary of Durango Capital, Ltd., which is itself owned 50% by The Apollo Trust and 50% by The Minerva Trust, both established under the laws of Bermuda. This nested structure places Aqua Capital within a larger framework of related entities that together may hold significant influence over Energizer's shareholder voting.

Fundacion Omerinta serves as the Protector of both The Apollo Trust and The Minerva Trust and controls the appointment of trustees for each trust. Brinza International Corp. is identified as the founder and sole member of the Foundation Council of Fundacion Omerinta, while Fundacion Barniz is the sole shareholder of Brinza International Corp. The filing names Alfredo Jose Diez Ramirez as the Founder and Protector of Fundacion Barniz and the sole director and president of Durango Capital, Ltd. The filing indicates that all of these entities and individuals are deemed indirect beneficial owners of the reported securities.

Potential Section 13(d) Group Status

The filing states that the reporting persons, which include Aqua Capital, Durango Capital, Fundacion Omerinta, Brinza International Corp., Fundacion Barniz, and Alfredo Jose Diez Ramirez, may be deemed to be members of a Section 13(d) group that collectively beneficially owns more than 10% of Energizer's outstanding common stock. Section 13(d) of the Securities Exchange Act requires beneficial owners of more than 5% of a company's equity to disclose their holdings and any agreements that might constitute a group with other shareholders.

The filing includes a disclaimer stating that the filing of the Form 4 shall not be deemed an admission that the reporting persons are members of such a group. This language is standard in disclosures where ownership structures involve multiple entities and the precise nature of coordination or group status may be subject to interpretation under securities law. Investors monitoring Energizer's shareholder composition may track whether the company or the SEC provides additional clarity regarding the group's collective ownership position or any coordination agreements among the reporting persons.

Director and 10% Owner Status

The filing confirms that Aqua Capital, Ltd. holds director and 10% owner status at Energizer Holdings. These dual roles indicate that the entity exercises both governance influence through board participation and substantial economic interest through its significant shareholding. The disclosure of the beneficial ownership position and the complexity of the underlying ownership structure underscore the importance of transparency regarding influential shareholders at large publicly traded companies.

The combination of director status and 10% ownership means that decisions made by Aqua Capital or its related entities regarding share acquisitions, voting on corporate matters, or engagement with Energizer's management may be of particular interest to other shareholders and market participants. The Form 4 filing requirement ensures that such transactions are disclosed to the public in a timely manner, allowing investors and analysts to monitor changes in the shareholder composition and potential shifts in control or influence at the company.

Reporting Requirements and Filing Compliance

The Form 4 filing was submitted by Aqua Capital and the other reporting persons on July 27, 2026, three days after the final share purchase on July 24. Form 4 filings are required under Section 16(a) of the Securities Exchange Act of 1934 and must be filed within two business days of a transaction by directors, officers, and beneficial owners of more than 10% of a company's outstanding equity. The filing demonstrates the reporting persons' adherence to Securities and Exchange Commission disclosure obligations.

Each reporting person's address is listed as c/o Caledco Corporation, 5757 Waterford District Drive, Suite 370, Miami, Florida 33126. The filing includes detailed footnotes explaining that the prices reported represent weighted averages across multiple transactions executed at varying prices within specified ranges. This granular disclosure approach, while maintaining price specificity, allows the market to understand the execution quality and market conditions during the trading period.

Implications for Energizer Shareholders and Investors

The acquisition of 120,000 additional shares by Aqua Capital demonstrates continued confidence in Energizer Holdings by an entity with significant influence over the company's governance and strategic direction. The filing provides no explicit statement regarding the rationale for the purchases or whether they are part of a broader strategic initiative by the reporting persons. Investors may wish to consider whether the timing and magnitude of these acquisitions signal management or shareholder expectations regarding the company's future prospects.

The disclosed transactions increase Aqua Capital's direct ownership to 8,000,000 shares, representing a material position in Energizer's equity base. Market participants monitoring insider trading activity and shareholder concentration may use this information as one data point among many when assessing sentiment from those with access to material non-public information or specialized market insights. The filing does not indicate whether additional purchases are planned or whether the reporting persons have entered into any Rule 10b5-1 trading plans that might govern future transactions.

Filing Transparency and Future Disclosures

The Form 4 filing includes undertakings by Aqua Capital to provide detailed information regarding the specific number of shares purchased at each individual price within the disclosed ranges, should Energizer Holdings, any security holder, or the SEC request such information. This commitment reflects the standard transparency expectations placed on insiders and major shareholders, ensuring that the full details of transactions can be reconstructed by interested parties without undue delay or obstruction.

Future filings by Aqua Capital or related entities will continue to be subject to Form 4 requirements in the event of additional share acquisitions, dispositions, or other changes in beneficial ownership. Investors tracking the shareholding positions of this entity and the broader group of which it is a part should monitor SEC EDGAR for subsequent filings that may reveal further developments in Energizer's shareholder base or any material changes in the ownership structure or control dynamics at the company.