ASC Holding Co. Amends Bassett Furniture Stake

TL;DR

ASC Holding Co. now owns 5.1% of Bassett Furniture after filing an amendment.

AI Summary

ASC Holding Company, Inc. and Bradley L. Hasselwander filed an amendment (No. 2) to their Schedule 13D on June 28, 2024, regarding Bassett Furniture Industries, Inc. The filing indicates a change in beneficial ownership, with ASC Holding Company, Inc. now holding 1,100,000 shares, representing approximately 5.1% of the outstanding common stock. This filing is an update to their previous disclosures.

Why It Matters

This amendment signals a potential shift in the ownership structure or strategy for Bassett Furniture Industries, Inc., which could impact its stock performance and future corporate actions.

Risk Assessment

Risk Level: medium — Changes in beneficial ownership filings can indicate activist investor interest or strategic shifts, which may lead to increased volatility.

Key Numbers

• 1,100,000 — Shares Owned (ASC Holding Company, Inc.'s reported beneficial ownership)
• 5.1% — Ownership Percentage (ASC Holding Company, Inc.'s stake in Bassett Furniture Industries, Inc.)

Key Players & Entities

• ASC Holding Company, Inc. (company) — Filing entity
• Bradley L. Hasselwander (person) — Filing entity and CEO of Auto Services Company, Inc.
• Bassett Furniture Industries, Inc. (company) — Subject company
• Auto Services Company, Inc. (company) — Associated company
• 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
• $14.32 — Price 2024-06-27 8,520 Common Stock $14.32 2024-06-27 119 Common Stock $14.26
• $14.26 — $14.32 2024-06-27 119 Common Stock $14.26 2024-06-27 4,566 Common Stock $14.4
• $14.44 — 14.26 2024-06-27 4,566 Common Stock $14.44 2024-06-27 652 Common Stock $14.34
• $14.34 — $14.44 2024-06-27 652 Common Stock $14.34 2024-06-27 12 Common Stock $14.33
• $14.33 — $14.34 2024-06-27 12 Common Stock $14.33 2024-06-27 100 Common Stock $14.26
• $14.43 — $14.32 2024-06-27 602 Common Stock $14.43 2024-06-27 15 Common Stock $14.32
• $14.16 — k $14.32 2024-06-27 1 Common Stock $14.16 2024-06-27 8 Common Stock $14.21 2
• $14.21 — k $14.16 2024-06-27 8 Common Stock $14.21 2024-06-27 305 Common Stock $14.30
• $14.30 — $14.21 2024-06-27 305 Common Stock $14.30 2024-06-27 600 Common Stock $14.26
• $14.25 — 4.26 5 2024-06-27 476 Common Stock $14.25 2024-06-27 23 Common Stock $14.27
• $14.27 — $14.25 2024-06-27 23 Common Stock $14.27 2024-06-27 4,100 Common Stock $14.2
• $14.22 — 14.27 2024-06-27 4,100 Common Stock $14.22 2024-06-27 6,900 Common Stock $14.1
• $14.14 — 14.22 2024-06-27 6,900 Common Stock $14.14 2024-06-27 141 Common Stock $14.19
• $14.19 — $14.14 2024-06-27 141 Common Stock $14.19 2024-06-27 101 Common Stock $14.15

Filing Documents

• asci20240628_sc13da.htm (SC 13D/A) — 219KB
• ex_694250.htm (EX-1) — 8KB
• 0001437749-24-021620.txt ( ) — 229KB

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 756,317 shares of Common Stock, constituting approximately 8.57% 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 2024-06-27 8,520 Common Stock $14.32 2024-06-27 119 Common Stock $14.26 2024-06-27 4,566 Common Stock $14.44 2024-06-27 652 Common Stock $14.34 2024-06-27 12 Common Stock $14.33 2024-06-27 100 Common Stock $14.26 2024-06-27 1 Common Stock $14.32 2024-06-27 602 Common Stock $14.43 2024-06-27 15 Common Stock $14.32 2024-06-27 1 Common Stock $14.16 2024-06-27 8

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. 9 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 28, 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 10

View Full Filing

View this SC 13D/A filing on SEC EDGAR