Fund 1 Updates BJ's Restaurants Stake
Ticker: BJRI · Form: SC 13D/A · Filed: Mar 27, 2024 · CIK: 1013488
Sentiment: neutral
Topics: 13D-filing, shareholder-activity, amendment
Related Tickers: BJRI
TL;DR
Fund 1 just updated its 13D filing for BJRI - check for new stake details.
AI Summary
Fund 1 Investments, LLC has filed an amendment (No. 5) to its Schedule 13D regarding BJ's Restaurants, Inc. The filing, dated March 27, 2024, indicates a change in the reporting entity's holdings or intentions concerning the company's common stock. The specific details of the change, such as the number of shares or the percentage of ownership, are not fully detailed in this excerpt but represent an update to their previous filing.
Why It Matters
This filing signals a potential shift in significant shareholder activity for BJ's Restaurants, which could influence stock price and corporate strategy.
Risk Assessment
Risk Level: medium — Changes in significant shareholder filings can indicate potential activist involvement or shifts in investment strategy, impacting the company's stock.
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
What is the specific nature of the amendment filed by Fund 1 Investments, LLC on March 27, 2024?
The filing is Amendment No. 5 to the Schedule 13D, indicating an update to Fund 1 Investments, LLC's previous disclosures regarding its holdings in BJ's Restaurants, Inc. The exact nature of the change (e.g., increased/decreased stake, change in intent) requires a review of the full amendment details.
What is the CUSIP number for BJ's Restaurants, Inc. common stock?
The CUSIP number for BJ's Restaurants, Inc. common stock is 09180C106.
Who is listed as the legal representative for the filing?
Kenneth Mantel, Esq. from Olshan Frome Wolosky LLP is listed as the legal representative.
What is the business address of BJ's Restaurants, Inc.?
The business address of BJ's Restaurants, Inc. is 7755 Center Avenue, Suite 300, Huntington Beach, CA 92647.
What was the former name of BJ's Restaurants, Inc.?
The former name of BJ's Restaurants, Inc. was Chicago Pizza & Brewery Inc., with a date of name change on June 14, 1996.
Filing Stats: 940 words · 4 min read · ~3 pages · Grade level 10.7 · Accepted 2024-03-27 17:10:16
Key Financial Figures
- $72,291,324 — y the Reporting Person is approximately $72,291,324 (excluding approximately $37,521,629 no
- $37,521,629 — ly $72,291,324 (excluding approximately $37,521,629 notional value of the Cash-Settled Swap
Filing Documents
- sc13da513866007_03272024.htm (SC 13D/A) — 42KB
- 0000921895-24-000724.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 2,301,476 Shares beneficially owned by the Reporting Person is approximately $72,291,324 (excluding approximately $37,521,629 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 2,301,476 Shares, constituting approximately 9.85% 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 2,301,476 Shares held by the Funds. (c) The transactions in the Shares by the Reporting Person since the filing of Amendment No. 4 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 1,050,924 Shares (representing economic exposure comparable to approximately 4.5% 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 27, 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. 4 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 (25,000) 33.0099 03/26/2024