Privet Fund Management Amends Ascent Industries Stake
Ticker: ACNT · Form: SC 13D/A · Filed: Sep 20, 2024 · CIK: 95953
| Field | Detail |
|---|---|
| Company | Ascent Industries CO. (ACNT) |
| Form Type | SC 13D/A |
| Filed Date | Sep 20, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $1.00, $8.29, $9.13 |
| Sentiment | neutral |
Sentiment: neutral
Topics: schedule-13d, beneficial-ownership, amendment
TL;DR
Privet Fund Management updated its 13D on Ascent Industries Co. - watch for potential moves.
AI Summary
Privet Fund Management LLC, through Ryan Levenson, has amended its Schedule 13D filing regarding Ascent Industries Co. The filing, dated September 20, 2024, indicates a change in beneficial ownership. Privet Fund Management LLC is a significant holder of Ascent Industries Co. stock.
Why It Matters
This amendment signals potential shifts in control or strategy for Ascent Industries Co. as a major shareholder updates its position.
Risk Assessment
Risk Level: medium — Amendments to Schedule 13D filings often precede significant corporate actions or changes in investor sentiment.
Key Players & Entities
- Privet Fund Management LLC (company) — Filing entity
- Ryan Levenson (person) — Associated with Privet Fund Management LLC
- Ascent Industries Co. (company) — Subject company
FAQ
What is the primary purpose of this SC 13D/A filing?
This filing is an amendment to a previous Schedule 13D, indicating a change in beneficial ownership of Ascent Industries Co. by Privet Fund Management LLC.
Who is filing this amendment?
The amendment is filed by Privet Fund Management LLC, with Ryan Levenson being a key individual associated with the fund.
What is the CUSIP number for Ascent Industries Co. common stock?
The CUSIP number for Ascent Industries Co. common stock is 871565107.
When was this amendment filed with the SEC?
This amendment was filed on September 20, 2024.
What was Ascent Industries Co. formerly known as?
Ascent Industries Co. was formerly known as Synalloy Corp and Blackman Uhler Industries Inc.
Filing Stats: 1,159 words · 5 min read · ~4 pages · Grade level 13.5 · Accepted 2024-09-20 19:59:56
Key Financial Figures
- $1.00 — S CO. (Name of Issuer) Common Stock, $1.00 par value per share (Title of Class o
- $8.29 — Shares at an average price per share of $8.29. On September 20, 2024, Privet Fund sol
- $9.13 — Shares at an average price per share of $9.13. There have been no other reportable tr
Filing Documents
- tm2424499d1_sc13da.htm (SC 13D/A) — 49KB
- 0001104659-24-101782.txt ( ) — 51KB
INTEREST IN SECURITIES OF THE ISSUER
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER Items 5(a) - (c) and (e) are hereby amended and restated to read as follows: (a) The aggregate percentage of Shares reported as owned by each person named herein is based upon 10,124,737 Shares outstanding as of August 2, 2024, which is the total number of Shares outstanding as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 6, 2024. As of the date hereof, Privet Fund beneficially owned 1 Share, constituting approximately 0% of the Shares outstanding. Privet Fund Management, as the general partner and investment manager of Privet Fund, may be deemed to beneficially own 1 Share owned by Privet Fund, constituting approximately 0% of the Shares outstanding. Mr. Levenson, as the managing member of Privet Fund Management, may be deemed to beneficially own the 1 Share owned by Privet Fund, constituting approximately 0% of the Shares outstanding. Based on UPG’s most recent Schedule 13D/A filed with the SEC on July 2, 2020, UPG beneficially owns 783,998 Shares. Collectively, UPG and Privet beneficially own 783,999 Shares, which represents approximately 7.74% of the outstanding Shares. Each Reporting Person disclaims beneficial ownership of the Shares that he, she or it does not directly own. Furthermore, the Reporting Persons expressly disclaim beneficial ownership of the 783,998 Shares beneficially owned by UPG. (c) On September 19, 2024, Privet Fund sold 1,665,000 Shares at an average price per share of $8.29. On September 20, 2024, Privet Fund sold 8,647 Shares at an average price per share of $9.13. There have been no other reportable transactions by any of the Reporting Persons with respect to Shares in the last 60 days. (e) As a result of the transactions described herein, the Reporting Persons ceased to be the beneficial owners of more than 5% of the Issuer’s Common Stock on September 19, 2024. The filing of this Amendment No. 13 r