Fund 1 Investments Amends Citi Trends Filing

TL;DR

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

AI Summary

Fund 1 Investments, LLC has filed Amendment No. 8 to its Schedule 13D concerning Citi Trends, Inc. The filing, dated May 1, 2024, indicates a change in beneficial ownership. Fund 1 Investments, LLC, based in Rincon, PR, is the filer, and Citi Trends, Inc. is the subject company.

Why It Matters

This filing signifies a potential shift in control or strategy for Citi Trends, Inc. as a significant investor updates its stake.

Risk Assessment

Risk Level: medium — Schedule 13D filings often precede significant corporate actions or activist campaigns, indicating potential volatility.

Key Players & Entities

• Fund 1 Investments, LLC (company) — Filer of the Schedule 13D amendment
• Citi Trends, Inc. (company) — Subject company of the filing
• Kenneth Mantel, Esq. (person) — Authorized to receive notices and communications for the filer
• Olshan Frome Wolosky LLP (company) — Legal counsel for the filer

FAQ

Key Financial Figures

• $0.01 — ame of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securiti
• $45,135,652 — y the Reporting Person is approximately $45,135,652, including brokerage commissions. Item

Filing Documents

• sc13da813866006_05032024.htm (SC 13D/A) — 43KB
• 0000921895-24-001024.txt ( ) — 45KB

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 1,986,067 Shares beneficially owned by the Reporting Person is approximately $45,135,652, 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 8,536,956 Shares outstanding as of April 13, 2024, which is the total number of Shares outstanding as reported in the Issuer’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on April 18, 2024. As of date hereof, the Reporting Person beneficially owned 1,986,067 Shares, constituting approximately 23.3% 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 1,986,067 Shares held by the Funds. (c) The transactions in the Shares by the Reporting Person since the filing of Amendment No. 7 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: May 3, 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. 7 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 11,300 22.1995 04/26/2024 Purchase of Common Stock 10,800 21.7876 04/29/2024 Purchase of Common Stock 50,800 21.4122 04/30/2024 Purchase of Common Stock 30,000 21.4719 05/01/2024 Purchase of Common Stock 5,000 22.0704 05/03/2024

View Full Filing

View this SC 13D/A filing on SEC EDGAR