Biglari Capital Amends Cracker Barrel Stake Filing
Ticker: CBRL · Form: SC 13D/A · Filed: Oct 8, 2024 · CIK: 1067294
Sentiment: neutral
Topics: activist-investor, amendment, schedule-13d
Related Tickers: CBRL
TL;DR
Biglari Capital filed another amendment on their Cracker Barrel stake. Still watching.
AI Summary
Biglari Capital Corp. filed Amendment No. 56 to its Schedule 13D on October 8, 2024, regarding its holdings in Cracker Barrel Old Country Store, Inc. The filing indicates a change in the beneficial ownership of the company's common stock. Sardar Biglari, through Biglari Capital Corp., continues to be a significant stakeholder.
Why It Matters
This amendment signals ongoing activity and potential strategic shifts by a major shareholder in Cracker Barrel, which could influence the company's future direction.
Risk Assessment
Risk Level: medium — Amendments to Schedule 13D filings often indicate a shareholder's active interest, which can lead to activist campaigns or significant stock price movements.
Key Players & Entities
- Biglari Capital Corp. (company) — Filing entity
- Cracker Barrel Old Country Store, Inc. (company) — Subject company
- Sardar Biglari (person) — Beneficial owner associated with Biglari Capital Corp.
- Olshan Frome Wolosky LLP (company) — Legal counsel
FAQ
What is the specific change in beneficial ownership reported in this amendment?
The filing is an amendment (No. 56) to the Schedule 13D, indicating a change in the reporting of beneficial ownership, but the exact percentage or number of shares changing hands is not detailed in the provided header information.
When was this amendment filed?
This amendment was filed on October 8, 2024.
Who is filing this amendment?
Biglari Capital Corp. is filing this amendment.
What is the CUSIP number for Cracker Barrel Old Country Store, Inc. common stock?
The CUSIP number is 22410J106.
Who are the legal representatives for Biglari Capital Corp. in this filing?
Steve Wolosky, Esq. of Olshan Frome Wolosky LLP is listed as counsel to receive copies.
Filing Stats: 1,612 words · 6 min read · ~5 pages · Grade level 13.9 · Accepted 2024-10-08 08:55:20
Key Financial Figures
- $0.01 — ame of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securiti
Filing Documents
- e6663941_sc13da-biglari.htm (SC 13D/A) — 233KB
- ex99-1.pdf (SC 13D/A) — 255KB
- 0001193805-24-001224.txt ( ) — 587KB
Purpose of Transaction
Item 4. Purpose of Transaction.
is hereby amended to
Item 4 is hereby amended to add the following: On October 8, 2024, the Reporting Persons issued a letter to shareholders of the Issuer (the “Letter”). The full text of the Letter is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Material to be Filed as Exhibits
Item 7. Material to be Filed as Exhibits.
is hereby amended to
Item 7 is hereby amended to add the following exhibit: 99.1 Letter to shareholders, dated October 8, 2024. 10 CUSIP No. 22410J106 SIGNATURE After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. October 8, 2024 (Date) THE LION FUND II, L.P. By: BIGLARI CAPITAL CORP., its General Partner By: /s/ Sardar Biglari Name: Sardar Biglari Title: Chairman and Chief Executive Officer BIGLARI CAPITAL CORP. By: /s/ Sardar Biglari Name: Sardar Biglari Title: Chairman and Chief Executive Officer FIRST GUARD INSURANCE COMPANY By: /s/ Sardar Biglari Name: Sardar Biglari Title: Authorized Signatory SOUTHERN PIONEER PROPERTY AND CASUALTY INSURANCE COMPANY By: /s/ Sardar Biglari Name: Sardar Biglari Title: Authorized Signatory BIGLARI REINSURANCE LTD. By: /s/ Sardar Biglari Name: Sardar Biglari Title: Authorized Signatory BIGLARI INSURANCE GROUP INC. By: /s/ Sardar Biglari Name: Sardar Biglari Title: Authorized Signatory BIGLARI HOLDINGS INC. By: /s/ Sardar Biglari Name: Sardar Biglari Title: Chairman and Chief Executive Officer /s/ Sardar Biglari SARDAR BIGLARI 11