Auto Services Co. Amends Bassett Furniture Stake

TL;DR

ASC HOLDING COMPANY & Hasselwander updated their Bassett Furniture stake filing on 6/18.

AI Summary

On June 18, 2024, Auto Services Company, Inc. and Bradley L. Hasselwander filed an amendment (SC 13D/A) regarding their beneficial ownership of Bassett Furniture Industries, Inc. The filing indicates a change in their holdings, though specific new dollar amounts or percentages are not detailed in this excerpt. The amendment was filed on June 18, 2024.

Why It Matters

This filing signals a potential shift in control or strategy for Bassett Furniture Industries, Inc., which could impact its stock price and future business decisions.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D filings often indicate significant changes in beneficial ownership, which can lead to increased volatility and strategic shifts for the company.

Key Players & Entities

• Auto Services Company, Inc. (company) — Filing entity
• Bradley L. Hasselwander (person) — Filing entity and CEO
• Bassett Furniture Industries, Inc. (company) — Subject company
• ASC HOLDING COMPANY, INC. (company) — Group member
• Kutak Rock LLP (company) — Legal counsel

FAQ

Key Financial Figures

• $5.00 — ame of Issuer) Common Stock, par value $5.00 per share (Title of Class of Securiti
• $13.44 — Price 2024-06-17 174 Common Stock $13.44 2024-06-17 1,300 Common Stock $13.4
• $13.45 — 13.44 2024-06-17 1,300 Common Stock $13.45 2024-06-17 1,233 Common Stock $13.5
• $13.55 — 13.45 2024-06-17 1,233 Common Stock $13.55 2024-06-17 1 Common Stock $13.97 2
• $13.97 — k $13.55 2024-06-17 1 Common Stock $13.97 2024-06-17 500 Common Stock $13.94
• $13.94 — $13.97 2024-06-17 500 Common Stock $13.94 2024-06-17 61 Common Stock $13.94
• $13.96 — $13.94 2024-06-17 199 Common Stock $13.96 2024-06-17 102 Common Stock $13.68
• $13.68 — $13.96 2024-06-17 102 Common Stock $13.68 2024-06-17 700 Common Stock $13.83
• $13.83 — $13.68 2024-06-17 700 Common Stock $13.83 2024-06-17 100 Common Stock $13.69
• $13.69 — $13.83 2024-06-17 100 Common Stock $13.69 2024-06-17 445 Common Stock $13.92
• $13.92 — $13.69 2024-06-17 445 Common Stock $13.92 2024-06-17 100 Common Stock $13.72
• $13.72 — $13.92 2024-06-17 100 Common Stock $13.72 2024-06-17 100 Common Stock $13.95
• $13.95 — $13.72 2024-06-17 100 Common Stock $13.95 5 2024-06-17 15 Common Stock $13.9
• $13.70 — $13.95 2024-06-17 643 Common Stock $13.70 2024-06-17 100 Common Stock $13.71
• $13.71 — $13.70 2024-06-17 100 Common Stock $13.71 2024-06-17 363 Common Stock $13.92

Filing Documents

• asci20240618_sc13da.htm (SC 13D/A) — 186KB
• ex_690326.htm (EX-1) — 8KB
• 0001437749-24-020652.txt ( ) — 196KB

INTEREST IN SECURITIES OF THE ISSUER

ITEM 5. INTEREST IN SECURITIES OF THE ISSUER. (a) and (b) The information relating to the beneficial ownership of Common Stock by the Reporting Persons set forth in Rows 7 through 13 of each cover page hereto is incorporated by reference. ASC is the beneficial owner of 627,572 shares of Common Stock, constituting approximately 7.11% of outstanding Common Stock. Because it is the parent holding company of ASC, ASC Holding may be deemed to have the shared power to vote or direct the vote, and the shared power to dispose or direct the disposition, of all shares beneficially owned by ASC. Because he is the controlling stockholder of ASC Holdings, Bradley L. Hasselwander may be deemed to have the shared power to vote or direct the vote, and the shared power to dispose or direct the disposition, of all shares beneficially owned by ASC. The foregoing ownership percentage is calculated assuming a total of 8,828,751 shares of Common Stock of the Issuer are issued and outstanding, as set forth in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on April 3, 2024. None of the Reporting Persons or, to the knowledge of the Reporting Persons, any of the other persons listed in Item 2(a)-(c) hereto beneficially owns any other securities of the Issuer. (c) Transactions by the Reporting Persons in shares of Common Stock of the Issuer since the filing of the Schedule 13D are as follows, all of which were effected and held by ASC through open market purchases: Date Acquired Amount of Shares Purchased Class of Securities Per Share Price 2024-06-17 174 Common Stock $13.44 2024-06-17 1,300 Common Stock $13.45 2024-06-17 1,233 Common Stock $13.55 2024-06-17 1 Common Stock $13.97 2024-06-17 500 Common Stock $13.94 2024-06-17 61 Common Stock $13.94 2024-06-17 100 Common Stock $13.94 2024-06-17 300 Common Stock $13.94 2024-06-17 199 Common Stock $13.96 2024-06-17 102 Common Stock $13.68 2024-0

MATERIAL TO BE FILED AS EXHIBITS

ITEM 7. MATERIAL TO BE FILED AS EXHIBITS. This filing includes the following exhibit: Exhibit 1 : Joint Filing Agreement. 8 SIGNATURE After reasonable inquiry and to the best of its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Date: June 18, 2024 AUTO SERVICES COMPANY, INC. By: /s/ Bradley L. Hasselwander Name: Bradley L. Hasselwander Title: President and CEO ASC HOLDING COMPANY, INC. By: /s/ Bradley L. Hasselwander Name: Bradley L. Hasselwander Title: President and CEO /s/ Bradley L. Hasselwander Bradley L. Hasselwander 9

View Full Filing

View this SC 13D/A filing on SEC EDGAR