Fund 1 Investments Amends Citi Trends Filing

TL;DR

Fund 1 Investments filed an update on their Citi Trends stake. Keep an eye on this.

AI Summary

Fund 1 Investments, LLC has filed Amendment No. 10 to its Schedule 13D regarding Citi Trends, Inc. The filing, dated June 7, 2024, indicates a change in beneficial ownership. Fund 1 Investments, LLC is based in Rincon, Puerto Rico.

Why It Matters

This filing signals 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 investor campaigns, 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 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
• $50,913,516 — y the Reporting Person is approximately $50,913,516, including brokerage commissions. Item

Filing Documents

• sc13da1013866006_06112024.htm (SC 13D/A) — 47KB
• 0000921895-24-001398.txt ( ) — 49KB

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 2,234,281 Shares beneficially owned by the Reporting Person is approximately $50,913,516, 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 2,234,281 Shares, constituting approximately 26.2% 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 2,234,281 Shares held by the Funds. (c) The transactions in the Shares by the Reporting Person since the filing of Amendment No. 9 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: June 11, 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. 9 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 28,419 24.4921 05/31/2024 Purchase of Common Stock 2,000 23.2075 05/31/2024 Purchase of Common Stock 2,000 24.8510 06/03/2024 Purchase of Common Stock 1,000 25.5527 06/03/2024 Purchase of Common Stock 508 25.4268 06/04/2024 Purchase of Common Stock 18,000 24.8455 06/04/2024 Purchase of Common Stock 5,000 24.6443 06/04/2024 Purchase of Common Stock 4,000 24.5327 06/04/2024 Purchase of Common Stock 3,835 23.9917 06/05/2024 Purchase of Common Stock 4,000 24.0521 06/05/2024 Purchase of Common Stock 35,500 22.5797 06/07/2024 Purchase of Common Stock 11,000 22.6030 06/07/2024

View Full Filing

View this SC 13D/A filing on SEC EDGAR