Dahl Amends AMREP Stake Filing

TL;DR

Dahl just upped his AMREP stake, filing shows.

AI Summary

On May 17, 2024, James H. Dahl filed an amendment (Amendment No. 6) to Schedule 13D for AMREP Corporation. Dahl reported a change in beneficial ownership, increasing his stake in the company. The filing details his current holdings and intentions regarding the securities.

Why It Matters

This filing indicates a potential shift in control or influence over AMREP Corporation by a significant shareholder, which could impact the company's strategic direction and stock performance.

Risk Assessment

Risk Level: medium — Changes in beneficial ownership filings can signal activist investor activity or a potential takeover, introducing uncertainty for other shareholders.

Key Numbers

• Amendment No. 6 — Filing Amendment (Indicates this is not the initial filing and reflects updated information.)

Key Players & Entities

• AMREP Corporation (company) — Subject company
• James H. Dahl (person) — Filing person
• Ivan A. Colao, Esq. (person) — Legal counsel
• Holland & Knight LLP (company) — Legal firm

FAQ

Key Financial Figures

• $0.10 — me of Issuer) Common Stock, par value $0.10 per share (Title of Class of Securiti
• $11,471,377.90 — ally own such Shares were approximately $11,471,377.90 in aggregate purchase price for 885,449
• $19.45 — ple transactions at prices ranging from $19.45 to $20.39 per share. 2 This price is
• $20.39 — ctions at prices ranging from $19.45 to $20.39 per share. 2 This price is a weighted
• $20.45 — ple transactions at prices ranging from $20.45 to $21.28 per share. 3 This price is
• $21.28 — ctions at prices ranging from $20.45 to $21.28 per share. 3 This price is a weighted
• $20.50 — ple transactions at prices ranging from $20.50 to $20.61 per share. 4 This price is
• $20.61 — ctions at prices ranging from $20.50 to $20.61 per share. 4 This price is a weighted
• $21.79 — ple transactions at prices ranging from $21.79 to $22.00 per share. 5 This price is a
• $22.00 — ctions at prices ranging from $21.79 to $22.00 per share. 5 This price is a weighted
• $21.45 — ple transactions at prices ranging from $21.45 to $22.24 per share. 6 This price is a
• $22.24 — ctions at prices ranging from $21.45 to $22.24 per share. 6 This price is a weighted
• $21.00 — ple transactions at prices ranging from $21.00 to $21.05 per share. 7 This price is a
• $21.05 — ctions at prices ranging from $21.00 to $21.05 per share. 7 This price is a weighted
• $20.73 — ple transactions at prices ranging from $20.73 to $21.00 per share. 8 This price is a

Filing Documents

• tm2414738d1_sc13da.htm (SC 13D/A) — 60KB
• 0001104659-24-062970.txt ( ) — 62KB

of the Amended Schedule

Item 3 of the Amended Schedule 13D is amended and restated to read as follows: The Reporting Persons may be deemed to beneficially own 885,449 Shares, in aggregate. The amount and source of the funds for the transactions pursuant to which the Reporting Persons may be deemed to beneficially own such Shares were approximately $11,471,377.90 in aggregate purchase price for 885,449 Shares, derived from: (i) in the case of James H. Dahl, personal funds of James H. Dahl and funds from the following trusts for which James H. Dahl serves as trustee: IRA FBO James H. Dahl Pershing LLC as Custodian ROTH Conversion Account, IRA FBO James H. Dahl Pershing LLC as Custodian and Dahl Family Foundation, Inc.; and (ii) in the case of Rainey E. Lancaster, personal funds of Rainey E. Lancaster. Item 5. Interest in Securities of the Issuer.

of the Amended Schedule

Item 5 of the Amended Schedule 13D is amended and restated to read as follows: (a)According to the most recently filed Quarterly Report on Form 10-Q of the Issuer for the quarter ended January 31, 2024, filed with the SEC on March 8, 2024, the Issuer had 5,271,309 Shares outstanding as March 6, 2024. Each Reporting Person may be deemed to have the following beneficial ownership of Shares of the Issuer: (i) James H. Dahl may be deemed to beneficially own 885,449 Shares, in aggregate (or 16.8% of the total number of Shares outstanding); and (ii) Rainey E. Lancaster may be deemed to beneficially own 173,750 Shares (or 3.3% of the total number of Shares outstanding). All holdings in this Statement on Schedule 13D are reported as of the closing of business on May 17, 2024. (b)James H. Dahl has sole power to vote and dispose of 711,699 Shares, including: (i) 388,428 Shares held directly, (ii) 204,151 Shares held by IRA FBO James H. Dahl Pershing LLC as Custodian ROTH Conversion Account, (iii) 25,000 Shares held by IRA FBO James H. Dahl Pershing LLC as Custodian, and (iv) 94,120 Shares held by Dahl Family Foundation, Inc. Neither James H. Dahl nor any member of his family have any pecuniary interest in Shares held by Dahl Family Foundation, Inc. The Reporting Persons have shared power to vote and dispose of 173,750 Shares held by Rainey E. Lancaster. (c) The Reporting Persons effected the following transactions in the Shares in open market transactions on the dates indicated, and such transactions are the only transactions in the Shares by the Reporting Persons during the sixty days prior to and including May 17, 2024 (date range: March 18, 2024 through May 17, 2024): Date of Transaction Number of Shares Purchased Price Per Share 03/22/24 1,690 $ 20.164 1 03/22/24 1,810 $ 20.941 2 03/25/24 2,800 $ 20.5366 3 03/26/24 2,500 $ 21.43 04/01/24 5,000 $ 23.50 04/03/24 3,000 $ 22.20 04/11/24 1,800 $ 21.9859 4 04/16/24 142 $ 20.98 04/18/24

View Full Filing

View this SC 13D/A filing on SEC EDGAR