Fund 1 Investments Amends Citi Trends Stake

TL;DR

Fund 1 Investments just updated their Citi Trends stake. Watch this space.

AI Summary

Fund 1 Investments, LLC has filed Amendment No. 5 to its Schedule 13D regarding Citi Trends, Inc. The filing, dated March 19, 2024, indicates a change in beneficial ownership. Fund 1 Investments, LLC is based in Rincon, PR, and the filing concerns Citi Trends, Inc., headquartered in Savannah, GA.

Why It Matters

This amendment signals a potential shift in the control or influence of Citi Trends, Inc. by a significant shareholder, which could impact the company's strategic direction.

Risk Assessment

Risk Level: medium — Changes in beneficial ownership filings can indicate activist investor activity or potential strategic shifts, which carry inherent risks.

Key Players & Entities

• Fund 1 Investments, LLC (company) — Filing entity
• Citi Trends, Inc. (company) — Subject company
• Kenneth Mantel, Esq. (person) — Authorized contact
• Olshan Frome Wolosky LLP (company) — Legal counsel

FAQ

Key Financial Figures

• $0.01 — ame of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securiti
• $37,779,695 — y the Reporting Person is approximately $37,779,695, including brokerage commissions. Item

Filing Documents

• sc13da513866006_03212024.htm (SC 13D/A) — 42KB
• 0000921895-24-000696.txt ( ) — 44KB

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration .

is hereby amended

Item 3 is hereby amended and restated as follows: The Shares purchased by the Reporting Person were purchased with working capital (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business). The aggregate purchase price of the 1,660,664 Shares beneficially owned by the Reporting Person is approximately $37,779,695, including brokerage commissions.

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer . Items 5(a)-(c) are hereby amended and restated to read as follows: (a) The aggregate percentage of Shares reported owned by the Reporting Person is based on 8,544,345 Shares outstanding as of November 22, 2023, which is the total number of Shares outstanding as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on December 6, 2023. As of date hereof, the Reporting Person beneficially owned 1,660,664 Shares, constituting approximately 19.4% of the outstanding Shares. (b) The Reporting Person has sole power (i) to vote or direct the vote of, and (ii) to dispose or direct the disposition of, the 1,660,664 Shares held by the Funds. (c) The transactions in the Shares by the Reporting Person since the filing of Amendment No. 4 to the Schedule 13D are set forth on Schedule A attached hereto and are incorporated herein by reference. 3 CUSIP No. 17306X102

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: March 21, 2024 FUND 1 INVESTENTS, LLC By: /s/ Benjamin C. Cable Name: Benjamin C. Cable Title: Chief Operating Officer 4 CUSIP No. 17306X102 SCHEDULE A Transactions in the Securities of the Issuer Since the Filing of Amendment No. 4 to the Schedule 13D Nature of Transaction Amount of Securities Purchased/(Sold) Price per Share ($) Date of Purchase/Sale FUND 1 INVESTMENTS, LLC Purchase of Common Stock 11,000 29.5043 03/18/2024 Purchase of Common Stock 2,000 26.7470 03/19/2024 Purchase of Common Stock 83,423 28.5921 03/19/2024 Purchase of Common Stock 14,500 28.6851 03/20/2024

View Full Filing

View this SC 13D/A filing on SEC EDGAR