Fund 1 Updates Citi Trends Stake

TL;DR

Fund 1 just amended their 13D for Citi Trends. Ownership update.

AI Summary

Fund 1 Investments, LLC has filed Amendment No. 12 to its Schedule 13D concerning Citi Trends, Inc. The filing, dated June 25, 2024, indicates a change in beneficial ownership. The specific details of the change in holdings or the exact dollar amounts involved are not explicitly stated in this excerpt, but the amendment signifies an update to their previous filings regarding Citi Trends.

Why It Matters

This filing signals a potential shift in the ownership structure or strategy of Citi Trends, Inc., which could impact its stock performance and future direction.

Risk Assessment

Risk Level: medium — Changes in beneficial ownership filings can indicate activist investor activity or significant stake-building, which may lead to volatility.

Key Players & Entities

• Fund 1 Investments, LLC (company) — Filing entity
• Citi Trends, Inc. (company) — Subject company
• Kenneth Mantel, Esq. (person) — Authorized to receive notices
• 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
• $56,395,911 — y the Reporting Person is approximately $56,395,911, including brokerage commissions. Item

Filing Documents

• sc13da1213866006_06272024.htm (SC 13D/A) — 46KB
• 0000921895-24-001474.txt ( ) — 47KB

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 2,487,986 Shares beneficially owned by the Reporting Person is approximately $56,395,911, 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 8,595,297 Shares outstanding as of May 25, 2024, 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 June 12, 2024. As of the date hereof, the Reporting Person beneficially owned 2,487,986 Shares, constituting approximately 28.9% 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 2,487,986 Shares held by the Funds. (c) The transactions in the Shares by the Reporting Person since the filing of Amendment No. 11 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 27, 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. 11 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 25,000 21.3839 06/21/2024 Purchase of Common Stock 27,000 21.3959 06/21/2024 Purchase of Common Stock 21,000 21.2114 06/24/2024 Purchase of Common Stock 4,000 21.2952 06/25/2024 Purchase of Common Stock 5,000 20.9401 06/25/2024 Purchase of Common Stock 10,000 21.2660 06/25/2024 Purchase of Common Stock 5,000 21.0600 06/25/2024 Purchase of Common Stock 1,000 21.5200 06/26/2024 Purchase of Common Stock 6,500 21.4140 06/27/2024

View Full Filing

View this SC 13D/A filing on SEC EDGAR