Fund 1 Investments Files 13D/A for Destination XL Group
Ticker: DXLG · Form: SC 13D/A · Filed: Nov 26, 2024 · CIK: 813298
Sentiment: neutral
Topics: 13d-amendment, beneficial-ownership, activist-filing
Related Tickers: DXLG
TL;DR
Fund 1 Investments updated their stake in Destination XL Group. Watch this space.
AI Summary
Fund 1 Investments, LLC has filed Amendment No. 3 to its Schedule 13D concerning Destination XL Group, Inc. The filing, dated November 26, 2024, indicates a change in beneficial ownership. Fund 1 Investments, LLC is based in Rincon, PR.
Why It Matters
This filing signals a potential shift in control or significant influence over Destination XL Group, Inc. by Fund 1 Investments, LLC, which could impact the company's strategic direction and stock performance.
Risk Assessment
Risk Level: medium — Schedule 13D filings often precede significant corporate actions or changes in control, which can introduce volatility.
Key Players & Entities
- Fund 1 Investments, LLC (company) — Filing entity
- Destination XL Group, Inc. (company) — Subject company
- Kenneth Mantel, Esq. (person) — Legal representative
- Olshan Frome Wolosky LLP (company) — Legal firm
FAQ
What specific changes in beneficial ownership are detailed in Amendment No. 3?
The filing is an amendment to a Schedule 13D, indicating a change in beneficial ownership, but the specific details of the change (e.g., percentage increase/decrease, number of shares) are not provided in the excerpt.
When was this amendment filed with the SEC?
This amendment was filed on November 26, 2024.
What is the CUSIP number for Destination XL Group, Inc. common stock?
The CUSIP number for Destination XL Group, Inc. common stock is 25065K104.
Where is Fund 1 Investments, LLC located?
Fund 1 Investments, LLC is located at 100 Carr 115, Unit 1900, Rincon, PR 00677.
What is the former name of Destination XL Group, Inc. mentioned in the filing?
The filing mentions that Destination XL Group, Inc. was formerly known as CASUAL MALE RETAIL GROUP INC and DESIGNS INC.
Filing Stats: 935 words · 4 min read · ~3 pages · Grade level 10.5 · Accepted 2024-11-26 19:23:11
Key Financial Figures
- $0.01 — ame of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securiti
- $25,012,473 — y the Reporting Person is approximately $25,012,473, including brokerage commissions. Item
Filing Documents
- sc13da313866004_11262024.htm (SC 13D/A) — 40KB
- 0000921895-24-002824.txt ( ) — 42KB
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 beneficially owned by the Reporting Person were purchased with working capital of the Funds (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business) in open market purchases. The aggregate purchase price of the 5,758,261 Shares beneficially owned by the Reporting Person is approximately $25,012,473, 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: The aggregate percentage of Shares reported beneficially owned by the Reporting Person is based upon 54,307,237 Shares outstanding as of November 13, 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 November 22, 2024. (a) As of the date hereof, Fund 1 Investments beneficially owned 5,758,261 Shares. Percentage: Approximately 10.6% (b) 1. Sole power to vote or direct vote: 5,758,261 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 5,758,261 4. Shared power to dispose or direct the disposition: 0 (c) Fund 1 Investments has not entered into any transactions in the Shares during the past sixty days.
Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer .
is hereby amended
Item 6 is hereby amended and restated to read as follows: The Reporting Person has entered into certain cash-settled swap agreements with an unaffiliated third-party financial institution (the “Cash-Settled Swaps”). Collectively, the Cash-Settled Swaps held by the Reporting Person represent economic exposure to an aggregate of 5,763,573 notional Shares, representing approximately 10.6% of the outstanding Shares. The Cash-Settled Swaps provide the Reporting Person with economic results that are comparable to the economic results of ownership, but do not provide it with the power to vote or direct the voting, or dispose of or direct the disposition, of the Shares that are subject to the Cash-Settled Swaps. Other than as described herein, there are no contracts, arrangements, understandings or relationships between the Reporting Person and any other person, with respect to the securities of the Issuer. 3 CUSIP No. 25065K104
SIGNATURES
SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: November 26, 2024 FUND 1 INVESTMENTS, LLC By: /s/ Benjamin C. Cable Name: Benjamin C. Cable Title: Chief Operating Officer 4