Fund 1 Investments Amends Citi Trends 13D Filing

TL;DR

Fund 1 Investments just updated their Citi Trends stake filing - watch this space.

AI Summary

Fund 1 Investments, LLC, through its representative Kenneth Mantel, filed Amendment No. 13 to its Schedule 13D on September 25, 2024, regarding its holdings in Citi Trends, Inc. The filing indicates a change in the reporting person's beneficial ownership of Citi Trends' common stock.

Why It Matters

This amendment signals a potential shift in the investment strategy or stake of Fund 1 Investments in Citi Trends, which could influence the stock's performance.

Risk Assessment

Risk Level: medium — Changes in major shareholder filings can indicate shifts in control or strategy, impacting stock price volatility.

Key Players & Entities

• Fund 1 Investments, LLC (company) — Filing entity
• Citi Trends, Inc. (company) — Subject company
• Kenneth Mantel, Esq. (person) — Authorized representative
• 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
• $58,172,444 — y the Reporting Person is approximately $58,172,444, including brokerage commissions. Item

Filing Documents

• sc13da1313866006_09272024.htm (SC 13D/A) — 42KB
• 0000921895-24-002189.txt ( ) — 43KB

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 to read 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 2,573,486 Shares beneficially owned by the Reporting Person is approximately $58,172,444, including brokerage commissions.

Purpose of Transaction

Item 4. Purpose of Transaction .

is hereby amended

Item 4 is hereby amended to add the following: On September 25, 2024, the Issuer appointed Jonathan Lennon to serve as an observer on the Issuer's board of directors (the “Board”). The appointment was made pursuant to the terms of the Cooperation Agreement between the Isser and the Reporting Person (as defined and described in Amendment No. 3 to the Schedule 13D).

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 8,615,343 Shares outstanding as of August 30, 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 September 11, 2024. As of the date hereof, the Reporting Person beneficially owned 2,573,486 Shares, constituting approximately 29.9% 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 2,573,486 Shares held by the Funds. (c) The transactions in the Shares by the Reporting Person during the past sixty days 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: September 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 During the Past Sixty Days Nature of Transaction Amount of Securities Purchased/(Sold) Price per Share ($) Date of Purchase/Sale FUND 1 INVESTMENTS, LLC Purchase of Common Stock 1,500 15.8149 08/27/2024

View Full Filing

View this SC 13D/A filing on SEC EDGAR