Townsend Group Amends Beam Global Stake, Updates Ownership Details

TL;DR

**Townsend Group just updated their Beam Global ownership, watch for any future moves!**

AI Summary

Townsend Battery Partners, LLC and its affiliates, including David B. Townsend and Dennis W. Townsend, filed an amended Schedule 13D/A for Beam Global, indicating a change in their beneficial ownership. The filing, dated December 29, 2023, updates previous disclosures regarding their holdings of Beam Global's Common Stock. This matters to investors because significant changes in ownership by large institutional or insider groups can signal shifts in confidence or strategic intent regarding the company's future.

Why It Matters

This filing updates the public record on a significant shareholder group's stake in Beam Global, providing transparency on their continued involvement and potential influence.

Risk Assessment

Risk Level: low — This is an amendment to a previous filing, indicating a routine update rather than a new, sudden, or dramatic change in ownership that would pose high risk.

Analyst Insight

Investors should note this filing as a routine update from a significant shareholder group. While not immediately actionable, it's prudent to monitor future filings from the Townsend group for any substantial changes in their ownership percentage or stated intentions, which could signal a shift in their long-term view of Beam Global.

Key Players & Entities

• Townsend Battery Partners, LLC (company) — the filing entity
• Beam Global (company) — the issuer of the securities
• David B. Townsend (person) — a group member and contact person for the filing
• Dennis W. Townsend (person) — a group member
• December 29, 2023 (date) — date of event requiring the filing
• $0.001 (dollar_amount) — par value per share of Common Stock

FAQ

Key Financial Figures

• $0.001 — me of Issuer) Common Stock, par value $0.001 per share (Title of Class of Securiti
• $10.4060 — ghted Price 6/20/2023 Sell 15,000 $10.4060 7/17/2023 Sell 15,000 $12.1504
• $12.1504 — $10.4060 7/17/2023 Sell 15,000 $12.1504 7/18/2023 Sell 10,255 $12.0628
• $12.0628 — $12.1504 7/18/2023 Sell 10,255 $12.0628 10/30/2023 Sell 13,000 $5.4336
• $5.4336 — $12.0628 10/30/2023 Sell 13,000 $5.4336 10/31/2023 Sell 3,004 $5.4702
• $5.4702 — $5.4336 10/31/2023 Sell 3,004 $5.4702 12/4/2023 Sell 11,930 $5.6120
• $5.6120 — $5.4702 12/4/2023 Sell 11,930 $5.6120 12/11/2023 Sell 13,000 $5.5548
• $5.5548 — $5.6120 12/11/2023 Sell 13,000 $5.5548 12/14/2023 Sell 12,000 $6.5549
• $6.5549 — $5.5548 12/14/2023 Sell 12,000 $6.5549 12/26/2023 Sell 13,000 $7.6475
• $7.6475 — $6.5549 12/26/2023 Sell 13,000 $7.6475 12/28/2023 Sell 12,000 $7.6906
• $7.6906 — $7.6475 12/28/2023 Sell 12,000 $7.6906 12/29/2023 Sell 11,092 $7.3453
• $7.3453 — $7.6906 12/29/2023 Sell 11,092 $7.3453

Filing Documents

• d128824dsc13da.htm (SC 13D/A) — 215KB
• 0001193125-24-002310.txt ( ) — 217KB

Purpose of Transaction

Item 4. Purpose of Transaction.

of the

Item 4 of the Schedule 13D is hereby amended and restated in its entirety as follows: The information regarding the Transaction set forth in Item 3 of the Schedule 13D is incorporated into this Item 4 by reference. The Reporting Persons acquired the securities reported herein in connection with the Transaction. From May 22, 2023, to December 29, 2023, Townsend AC completed open market sales in which it disposed a total of 129,281 shares of Common Stock. The Reporting Persons hold such securities for investment purposes and intend to review their investments in the Issuer on a continuing basis. Except as described in this Statement, the Reporting Persons do not have any present plans or proposals that relate to or would result in any of the actions described in subparagraphs (a) through (j) of Item 4 of Schedule 13D, although, subject to the agreements described herein and various factors, including but not limited to the Issuers financial position and strategic direction, price levels of the Common Stock, conditions in the securities markets, various laws and regulations applicable to the Issuer and companies in its industry and the Reporting Persons ownership in the Issuer, and general economic and industry conditions, the Reporting Persons, at any time, and from time to time, may in the future take actions with respect to their position in the Issuer as they deem appropriate, including changing their current intentions, with respect to any or all matters required to be disclosed in this Statement. Without limiting the foregoing, and subject to the terms of the documents described above, the Reporting Persons may, from time to time, acquire or cause affiliates to acquire additional shares of Common Stock or other securities in the Issuer, dispose, or cause affiliates to dispose, of some or all of the Common Stock or other securities of the Issuer or continue to hold, or cause affiliates to hold, Common Stock or other securities of the Issuer (or any combination

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer.

of the Schedule 13D is hereby amended and restated in its entirety as follows

Item 5 of the Schedule 13D is hereby amended and restated in its entirety as follows: The information set forth in Items 2 and 3 of this Statement and the cover pages of this Statement is hereby incorporated by reference into this Item 5. (a)(b) As a result of certain matters described in this Statement, the Reporting Persons may be deemed to constitute a group within the meaning of Rule 13d-5(b) under the Act. However, neither the present filing nor anything contained herein shall be construed as an admission that all or any of the Reporting Persons constitute a group within the meaning of Rule 13d-5(b) under the Act. As a member of a group, each Reporting Person may be deemed to beneficially own all of the Common Stock beneficially owned by the members of the group as a whole. The Reporting Persons may be deemed to beneficially own an aggregate of 915,834 shares of Common Stock, which represents, in the aggregate, approximately 6.434% of the outstanding shares of the Issuers Common Stock (based on 14,233,369 shares of common stock, $0.001 par value per share, of the Issuer (the Common Stock) outstanding as of December 22, 2023, reported in the issuers final prospectus to Form S-3 (File No. 333-272396) initially filed with the Commission on June 2, 2023, as amended by Amendment No. 1 filed with the Commission on December 11, 2023 and declared effective on December 22, 2023). (c) Except as set forth on Appendix I to this Statement, no Reporting Person has effected any transaction in the Common Stock in the 60 days preceding the date hereof or since the filing of the Original Schedule 13D. (d) Except as set forth in this Statement, no Reporting Person has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities described in this Statement. (e) Not applicable.

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of the undersigneds knowledge and belief, the undersigned hereby certifies that the information set forth in this statement is true, complete and correct. Date: January 4, 2024 Townsend AC, LLC /s/ Dennis Townsend Name: Dennis Townsend Title: Chairman TBP Investments, LLC /s/ Dennis Townsend Name: Dennis Townsend Title: Chairman Townsend Energy Solutions, LLC /s/ Dennis Townsend Name: Dennis Townsend Title: Chairman TES Co-Investor, LLC /s/ Dennis Townsend Name: Dennis Townsend Title: Chairman EPS Holding, LLC /s/ Dennis Townsend Name: Dennis Townsend Title: Chairman Townsend Ventures, LLC /s/ Dennis Townsend Name: Dennis Townsend Title: Chairman Townsend Battery Partners, LLC /s/ David Townsend Name: David Townsend Title: President /s/ David Townsend Name: David Townsend Title: President /s/ Dennis W. Townsend DENNIS W. TOWNSEND, not individually but solely in his capacity as Trustee of the 2013 Dennis Townsend Enterprises Trust /s/ Stephen M. Sharkey STEPHEN M. SHARKEY, not individually but solely in his capacity as Trustee of the 2013 Dennis Townsend Enterprises Trust /s/ David B. Townsend DAVID B. TOWNSEND, not individually but solely in his capacity as Trustee of the 2013 David Townsend Enterprises Trust /s/ Stephen M. Sharkey STEPHEN M. SHARKEY, not individually but solely in his capacity as Trustee of the 2013 David Townsend Enterprises Trust /s/ David B. Townsend DAVID B. TOWNSEND, not individually but solely in his capacity as Trustee Trust f/b/o David B. Townsend U/A dated December 19, 1996 /s/ Stephen M. Sharkey STEPHEN M. SHARKEY, not individually but solely in his capacity as Trustee Trust f/b/o David B. Townsend U/A dated December 19, 1996 /s/ David Townsend Name: David Townsend /s/ Dennis Townsend Name: Dennis Townsend Appendix I TRANSACTIONS EFFECTED BY TOWNSEND AC, LLC IN COMMON STOCK SINCE THE AMENDMENT TO SCHE

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