Castle Creek Capital Amends Bridgewater Bancshares Filing

TL;DR

Castle Creek Capital just updated their Bridgewater Bancshares stake. Watch this space.

AI Summary

Castle Creek Capital Partners VIII, LP, through an amendment filed on December 6, 2024, has updated its beneficial ownership of Bridgewater Bancshares Inc. The filing indicates a change in their holdings, though specific new percentages or dollar amounts are not detailed in this excerpt. This amendment is part of ongoing disclosures required for significant shareholders.

Why It Matters

This filing signals potential shifts in major shareholder positions, which can influence stock price and corporate strategy for Bridgewater Bancshares.

Risk Assessment

Risk Level: medium — Changes in major shareholder filings can indicate strategic moves or shifts in confidence, potentially impacting the stock.

Key Players & Entities

• Castle Creek Capital Partners VIII, LP (company) — Filing party
• Bridgewater Bancshares Inc (company) — Subject company
• David Volk (person) — Contact person for Castle Creek Capital

FAQ

Key Financial Figures

• $0.01 — ame of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securiti
• $11,845,364 — shares of Common Stock for proceeds of $11,845,364.28, which represents an amount net of c
• $15.27 — 12, 2024 at a weighted average price of $15.27 per share (in multiple open market, bro
• $15.16 — oker-assisted transactions ranging from $15.16 to $15.40, inclusive); (ii) 25,000 shar
• $15 — ted transactions ranging from $15.16 to $15.40, inclusive); (ii) 25,000 shares of C
• $15.21 — 13, 2024 at a weighted average price of $15.21 per share (in multiple open market, bro
• $15.00 — oker-assisted transactions ranging from $15.00 to $15.30, inclusive); (iii) 2,611 shar
• $15.01 — 14, 2024 at a weighted average price of $15.01 per share (in multiple open market, bro
• $15.05 — sold on November 15, 2024 at a price of $15.05 per share; (v) 42,755 shares of Common
• $15.08 — 22, 2024 at a weighted average price of $15.08 per share (in multiple open market, bro
• $15.06 — oker-assisted transactions ranging from $15.06 to $15.13, inclusive); (vii) 53,604 sha
• $15.39 — 25, 2024 at a weighted average price of $15.39 per share (in multiple open market, bro
• $15.35 — oker-assisted transactions ranging from $15.35 to $15.58, inclusive); (viii) 7,981 sha
• $15.02 — 26, 2024 at a weighted average price of $15.02 per share (in multiple open market, bro
• $15.03 — sold on December 2, 2024 at a price of $15.03 per share; and (xii) 576,236 shares of

Filing Documents

• tm2430391d1_sc13da.htm (SC 13D/A) — 50KB
• 0001104659-24-126433.txt ( ) — 52KB

(d) or 2(e)

ITEM 2(d) or 2(e) ¨ 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7 SOLE VOTING POWER 0 8 SHARED VOTING POWER 1,172,211 (1) 9 SOLE DISPOSITIVE POWER 0 10 SHARED DISPOSITIVE POWER 1,172,211 (1) 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,172,211 (1) 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) ¨ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.3% (1) 14 TYPE OF REPORTING PERSON (See Instructions) PN (Limited Partnership) (1) See

hereto

Item 5 hereto. 2 1 NAME OF REPORTING PERSONS Castle Creek Capital VIII LLC 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) ¨ (b) ¨ 3 SEC USE ONLY 4 SOURCE OF FUNDS (See Instructions) WC/AF 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO

(d) or 2(e)

ITEM 2(d) or 2(e) ¨ 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7 SOLE VOTING POWER 0 8 SHARED VOTING POWER 1,172,211 (1) 9 SOLE DISPOSITIVE POWER 0 10 SHARED DISPOSITIVE POWER 1,172,211 (1) 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,172,211 (1) 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) ¨ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.3% (1) 14 TYPE OF REPORTING PERSON (See Instructions) OO (Limited Liability Company), HC (Control Person) (1) See

hereto

Item 5 hereto. 3 Item 1. Security and Issuer This Amendment No. 3 to the Schedule 13D (this “Amendment No. 3”) amends and supplements the Schedule 13D filed on February 26, 2019, as amended by that certain Amendment No. 1 to the Schedule 13D filed on October 26, 2023 and Amendment No. 2 to Schedule 13D filed on November 12, 2024 (the “Schedule 13D”) with the U.S. Securities and Exchange Commission (the “SEC”), relating to the shares of common stock, par value $0.01 per share (“Common Stock”), of Bridgewater Bancshares, Inc. (the “Company”). Unless specifically amended hereby, the disclosures set forth in the Schedule 13D remain unchanged. Capitalized terms used in this Amendment No. 3 that are not otherwise defined herein have the meanings attributed to them in the Schedule 13D. Item 3. Source and Amount of Funds or Other Consideration

of the Schedule 13D is hereby amended and

Item 3 of the Schedule 13D is hereby amended and supplemented by adding the following: Between November 12, 2024 and December 4, 2024 (inclusive), Castle Creek Capital Partners VIII LP (“Fund VIII”) sold an aggregate of 788,560 shares of Common Stock for proceeds of $11,845,364.28, which represents an amount net of commissions and fees, in various open-market transactions. Item 5. Interest in Securities of the Issuer The information contained on the cover pages to this Schedule 13D and the information set forth or incorporated in Items 2, 3 and 4 is incorporated herein by reference. (a) and (b) Reporting Person Amount Beneficially Owned Percent of Class (2) Sole Power to Vote or Direct the Vote Shared Power to Vote or Direct the Vote Sole Power to Dispose or to Direct the Disposition Shared Power to Dispose or Direct the Disposition Castle Creek Capital Partners VIII, LP 1,172,211 4.3 % 0 1,172,211 0 1,172,211 Castle Creek Capital VIII LLC (1) 1,172,211 4.3 % 0 1,172,211 0 1,172,211 (1) Castle Creek Capital VIII LLC disclaims beneficial ownership of the Common Stock owned by Fund VIII, except to the extent of its pecuniary interest therein. (2) This calculation is based on 27,425,690 shares of Common Stock of the Company outstanding as of October 29, 2024, as reported in the Company’s Quarterly Report on Form 10-Q filed with the SEC on October 31, 2024. (c) Except as previously disclosed in the Schedule 13D, Fund VIII has completed the following open market, broker-assisted transactions with respect to the Common Stock during the last 60 days: (i) 37,256 shares of Common Stock sold on November 12, 2024 at a weighted average price of $15.27 per share (in multiple open market, broker-assisted transactions ranging from $15.16 to $15.40, inclusive); (ii) 25,000 shares of Common Stock sold on November 13, 2024 at a weighted average price of $15.21 per share (in multiple open market, broker-assisted transac

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of the knowledge and belief of the undersigned, the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: December 6, 2024 CASTLE CREEK CAPITAL PARTNERS VIII, LP By: /s/ David Volk Name: David Volk Title: Managing Principal CASTLE CREEK CAPITAL VIII LLC By: /s/ David Volk Name: David Volk Title: Managing Principal 5

View Full Filing

View this SC 13D/A filing on SEC EDGAR