PW Partners Discloses 7.2% Stake in BJ's Restaurants
Ticker: BJRI · Form: SC 13D · Filed: Mar 6, 2024 · CIK: 1013488
Sentiment: neutral
Topics: activist-investor, stake-acquisition, restaurant-industry
Related Tickers: BJRI
TL;DR
**BJ's Restaurants:** PW Partners Atlas Fund IV LP now owns 7.2% of the company.
AI Summary
PW Partners Atlas Fund IV LP, along with Patrick Walsh and other related entities, has disclosed a beneficial ownership stake of 7.2% in BJ's Restaurants Inc. as of March 6, 2024. This filing indicates a significant investment by the fund in the restaurant company.
Why It Matters
This filing signals a substantial investment by an activist fund, potentially leading to changes in company strategy or management at BJ's Restaurants.
Risk Assessment
Risk Level: medium — A significant stake by an investment fund can lead to activist campaigns or strategic shifts, introducing uncertainty for the company and its investors.
Key Numbers
- 7.2% — Beneficial Ownership (Indicates the significant stake held by PW Partners Atlas Fund IV LP in BJ's Restaurants Inc.)
- 20240306 — Filing Date (The date on which the Schedule 13D was filed with the SEC.)
Key Players & Entities
- PW Partners Atlas Fund IV LP (company) — Filing entity
- Patrick Walsh (person) — Associated with filing entity
- BJ's Restaurants Inc. (company) — Subject company
- 7.2% (dollar_amount) — Percentage of shares owned
FAQ
What is the total number of shares owned by PW Partners Atlas Fund IV LP and its affiliates?
The filing states a beneficial ownership of 7.2%, but the exact number of shares is not explicitly detailed in the provided text.
What is the investment strategy of PW Partners Atlas Fund IV LP regarding BJ's Restaurants?
The filing does not explicitly state the investment strategy, but a Schedule 13D filing typically indicates a significant stake with potential for influencing company actions.
When did PW Partners Atlas Fund IV LP acquire this stake?
The filing date is March 6, 2024, but the exact acquisition dates of the shares are not specified in the provided text.
Are there any specific plans mentioned by PW Partners Atlas Fund IV LP for BJ's Restaurants?
The provided text does not detail any specific plans for BJ's Restaurants by PW Partners Atlas Fund IV LP.
Who are the other group members listed in this filing?
The other group members listed are PW PARTNERS ATLAS FUND LP, PW PARTNERS ATLAS FUNDS, LLC, PW PARTNERS CAPITAL MANAGEMENT LLC, and PW PARTNERS, LLC.
Filing Stats: 4,820 words · 19 min read · ~16 pages · Grade level 11.1 · Accepted 2024-03-06 16:32:32
Key Financial Figures
- $29,559,917 — g Persons for a total purchase price of $29,559,917 including fees and expenses. The source
- $50 million — uo;Reduce the current cost structure by $50 million by the end of the second quarter of 202
- $100 million — cost savings plan; · Execute a $100 million stock buyback. Given the stock price, t
- $55 — Issuer’s] assets at approximately $55 per share; · Reduce the Board
Filing Documents
- tm248155d1_sc13d.htm (SC 13D) — 105KB
- tm248155d1_ex99-1.htm (EX-99.1) — 11KB
- tm248155d1_ex99-2.htm (EX-99.2) — 163KB
- tm248155d1_ex99-3.htm (EX-99.3) — 11KB
- image_001.jpg (GRAPHIC) — 9KB
- 0001104659-24-031497.txt ( ) — 304KB
of this Schedule 13D are incorporated herein by reference
Item 4 of this Schedule 13D are incorporated herein by reference. As of the date hereof, Atlas Fund IV beneficially owns 35,000 Common Shares underlying call options, having strike prices at or near the trading price on the trade date, which may be exercised by the holders thereof at any time prior to the expiration dates of such call options. As of the date hereof, Atlas Fund I beneficially owns 27,500 Common Shares underlying call options, having strike prices at or near the trading price on the trade date, which may be exercised by the holders thereof at any time prior to the expiration dates of such call optio