Fund 1 Investments Amends BJ's Restaurants Stake

TL;DR

Fund 1 Investments just updated their stake in BJ's Restaurants (BJRI) - watch this space.

AI Summary

Fund 1 Investments, LLC, through its filing on March 6, 2024, has amended its Schedule 13D regarding BJ's Restaurants, Inc. The filing indicates a change in beneficial ownership, with Fund 1 Investments, LLC now holding a significant stake in the company. Specific details on the exact number of shares or percentage of ownership are not immediately clear from this excerpt, but the amendment signifies an active interest in BJ's Restaurants.

Why It Matters

This filing indicates a change in a significant shareholder's position, which could signal future strategic moves or influence on BJ's Restaurants' corporate governance.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D filings often precede significant corporate actions or shifts in control, introducing potential volatility.

Key Players & Entities

• Fund 1 Investments, LLC (company) — Filing entity
• BJ's Restaurants, Inc. (company) — Subject company
• Kenneth Mantel, Esq. (person) — Legal representative
• Olshan Frome Wolosky LLP (company) — Legal firm

FAQ

Key Financial Figures

• $72,983,471 — y the Reporting Person is approximately $72,983,471 (excluding approximately $12,758,607 no
• $12,758,607 — ly $72,983,471 (excluding approximately $12,758,607 notional value of the Cash-Settled Swap

Filing Documents

• sc13da313866007_03062024.htm (SC 13D/A) — 43KB
• 0000921895-24-000593.txt ( ) — 44KB

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration .

is hereby amended

Item 3 is hereby amended and restated as follows: The Shares purchased by the Reporting Person were purchased with working capital (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business). The aggregate purchase price of the 2,326,476 Shares beneficially owned by the Reporting Person is approximately $72,983,471 (excluding approximately $12,758,607 notional value of the Cash-Settled Swaps (as defined in Item 6 below)), including brokerage commissions.

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer . Items 5(a)-(c) are hereby amended and restated to read as follows: (a) The aggregate percentage of Shares reported owned by the Reporting Person is based on 23,366,951 Shares outstanding as of February 26, 2024, which is the total number of Shares outstanding as reported in the Issuer’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 27, 2024. As of date hereof, the Reporting Person beneficially owned 2,326,476 Shares, constituting approximately 9.96% of the outstanding Shares. (b) The Reporting Person has sole power (i) to vote or direct the vote of, and (ii) to dispose or direct the disposition of, the 2,326,476 Shares held by the Funds. (c) The transactions in the Shares by the Reporting Person since the filing of Amendment No. 2 to the Schedule 13D are set forth on Schedule A attached hereto and are incorporated herein by reference.

Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer

Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer .

is hereby amended

Item 6 is hereby amended to add the following: In addition to the Shares referenced above, as of the date hereof, the Reporting Person has entered into cash-settled swaps (the “Cash-Settled Swaps”) with an unaffiliated third-party financial institution that references 352,000 Shares (representing economic exposure comparable to approximately 1.5% of the outstanding Shares). The Cash-Settled Swaps can only be settled in cash and do not permit settlement in the form of Shares. The Cash-Settled Swaps does not give the Reporting Person, directly or indirectly, the power to vote or direct the voting or the power to dispose or direct the disposition of the Shares referenced by the Cash-Settled Swaps, nor does it require the counterparty thereto to acquire, hold, vote or dispose of any securities of the Issuer. 3 CUSIP No. 09180C106

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: March 6, 2024 FUND 1 INVESTENTS, LLC By: /s/ Benjamin C. Cable Name: Benjamin C. Cable Title: Chief Operating Officer 4 CUSIP No. 09180C106 SCHEDULE A Transactions in the Securities of the Issuer Since the Filing of Amendment No. 2 to the Schedule 13D Nature of Transaction Amount of Securities Purchased/(Sold) Price per Share ($) Date of Purchase/Sale FUND 1 INVESTMENTS, LLC Sale of Common Stock (242,000) 35.5300 03/04/2024

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View this SC 13D/A filing on SEC EDGAR