Fund 1 Amends Citi Trends Stake Filing
Ticker: CTRN · Form: SC 13D/A · Filed: May 24, 2024 · CIK: 1318484
| Field | Detail |
|---|---|
| Company | Citi Trends INC (CTRN) |
| Form Type | SC 13D/A |
| Filed Date | May 24, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.01, $48,175,544 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 13D-A, shareholder-activity, amendment
Related Tickers: CTRN
TL;DR
Fund 1 updated its Citi Trends filing - ownership change likely.
AI Summary
Fund 1 Investments, LLC filed Amendment No. 9 to its Schedule 13D on May 22, 2024, regarding its holdings in Citi Trends, Inc. The filing indicates a change in beneficial ownership, though specific dollar amounts or percentage changes are not detailed in this excerpt. The filing is an amendment to a previous Schedule 13D, suggesting ongoing activity or adjustments to their investment strategy in Citi Trends.
Why It Matters
This filing signals potential shifts in significant shareholder positions, which could influence market perception and trading activity for Citi Trends, Inc.
Risk Assessment
Risk Level: medium — Amendments to Schedule 13D filings often indicate significant shareholder activity, which can introduce volatility.
Key Players & Entities
- Fund 1 Investments, LLC (company) — Filing entity
- Citi Trends, Inc. (company) — Subject company
- Kenneth Mantel, Esq. (person) — Authorized person to receive notices
- Olshan Frome Wolosky LLP (company) — Legal counsel
FAQ
What specific changes in beneficial ownership are detailed in Amendment No. 9?
This excerpt does not specify the exact changes in beneficial ownership, only that Amendment No. 9 has been filed.
When was the event requiring this filing amendment?
The date of the event which requires filing is May 22, 2024.
What is the CUSIP number for Citi Trends, Inc. common stock?
The CUSIP number for Citi Trends, Inc. common stock is 17306X102.
Who is authorized to receive notices for this filing?
Kenneth Mantel, Esq. of Olshan Frome Wolosky LLP is authorized to receive notices and communications.
What is the business address of Fund 1 Investments, LLC?
The business address of Fund 1 Investments, LLC is 100 CARR 115, UNIT 1900, RINCON, PR 00677.
Filing Stats: 896 words · 4 min read · ~3 pages · Grade level 9 · Accepted 2024-05-24 17:45:39
Key Financial Figures
- $0.01 — ame of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securiti
- $48,175,544 — y the Reporting Person is approximately $48,175,544, including brokerage commissions. Item
Filing Documents
- e663656_sc13da-citi.htm (SC 13D/A) — 47KB
- 0001193805-24-000708.txt ( ) — 49KB
Source and Amount of Funds or Other Consideration
Item 3. Source and Amount of Funds or Other Consideration .
is hereby amended and
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 2,119,019 Shares beneficially owned by the Reporting Person is approximately $48,175,544, including brokerage commissions.
Interest in Securities of the Issuer
Item 5. Interest in Securities of the Issuer . Items 5(a)-(c) are hereby amended and restated to read as follows: (a) The aggregate percentage of Shares reported owned by the Reporting Person is based on 8,536,716 Shares outstanding as of April 22, 2024, which is the total number of Shares outstanding as reported in the Issuer’s Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on May 8, 2024. As of date hereof, the Reporting Person beneficially owned 2,119,019 Shares, constituting approximately 24.8% of the outstanding Shares. (b) The Reporting Person has sole power (i) to vote or direct the vote of, and (ii) to dispose or direct the disposition of, the 2,119,019 Shares held by the Funds. (c) The transactions in the Shares by the Reporting Person since the filing of Amendment No. 8 to the Schedule 13D are set forth on Schedule A attached hereto and are incorporated herein by reference. 3 CUSIP No. 17306X102
SIGNATURES
SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: May 24, 2024 FUND 1 INVESTENTS, LLC By: /s/ Benjamin C. Cable Name: Benjamin C. Cable Title: Chief Operating Officer 4 CUSIP No. 17306X102 SCHEDULE A Transactions in the Securities of the Issuer Since the Filing of Amendment No. 8 to the Schedule 13D Nature of Transaction Amount of Securities Purchased/(Sold) Price per Share ($) Date of Purchase/Sale FUND 1 INVESTMENTS, LLC Purchase of Common Stock 6,330 22.7621 05/06/2024 Purchase of Common Stock 9,500 23.1756 05/07/2024 Purchase of Common Stock 5,481 23.4819 05/13/2024 Purchase of Common Stock 4,000 24.1937 05/14/2024 Purchase of Common Stock 8,000 23.9301 05/15/2024 Purchase of Common Stock 7,785 24.2149 05/15/2024 Purchase of Common Stock 10,500 22.4271 05/16/2024 Purchase of Common Stock 8,850 22.4859 05/16/2024 Purchase of Common Stock 6,000 23.0749 05/17/2024 Purchase of Common Stock 16,100 23.2302 05/20/2024 Purchase of Common Stock 2,000 22.9509 05/21/2024 Purchase of Common Stock 10,000 22.0705 05/22/2024 Purchase of Common Stock 5,000 22.4776 05/22/2024 Purchase of Common Stock 17,192 22.2103 05/22/2024 Purchase of Common Stock 5,000 22.3853 05/23/2024 Purchase of Common Stock 11,214 22.2924 05/23/2024