Lazar Updates Minim, Inc. Stake Filing

TL;DR

Lazar filed an update on his Minim, Inc. (MINM) stock ownership - check the details.

AI Summary

David E. Lazar has amended his Schedule 13D filing for Minim, Inc. on July 24, 2024. This amendment, the second for Lazar, indicates a change in his beneficial ownership of the company's common stock. The filing does not specify the exact percentage or number of shares now held, but it signifies an update to his stake.

Why It Matters

Changes in significant shareholder filings like this can signal shifts in control or influence, potentially impacting the stock price and strategic direction of Minim, Inc.

Risk Assessment

Risk Level: medium — Schedule 13D filings often involve significant investors, and changes can indicate strategic moves or potential activism, introducing volatility.

Key Players & Entities

• David E. Lazar (person) — Filing person and beneficial owner
• Minim, Inc. (company) — Subject company
• Zoom Telephonics, Inc. (company) — Former company name of Minim, Inc.

FAQ

Key Financial Figures

• $0.01 — Inc . (Name of Issuer) Common Stock, $0.01 par value (Title of Class of Securiti
• $0.001 — s Series A Convertible Preferred Stock, $0.001 par value per share (the “Series
• $5,600,000 — rchaser under the Purchase Agreement is $5,600,000 (the “Purchase Price”). The

Filing Documents

• miniminc_sc13da.htm (SC 13D/A) — 40KB
• miniminc_ex99-4.htm (EX-99.4) — 66KB
• miniminc_ex99-5.htm (EX-99.5) — 73KB
• 0001829126-24-004962.txt ( ) — 180KB

(a)-(c) is hereby amended and restated as follows

Item 5 (a)-(c) is hereby amended and restated as follows: The aggregate percentage of Shares reported owned by each person named herein is based upon 8,409,689 shares of Common Stock outstanding, which is the total of (a) 2,809,689 shares of Common Stock outstanding as of May 20, 2024, as reported in the Issuer’s Quarterly Report on Form 10-Q, which was filed with the Securities and Exchange Commission (the “SEC”) on May 20, 2024 and (b) an aggregate of 5,600,000 shares of Common Stock directly beneficially owned by the Reporting Person upon the conversion of the Series A Preferred Stock or exercise of the Warrants. A. Reporting Person (a) As of the close of business on July 22, 2024, the Reporting Person beneficially owned 7,072,867 Shares. Percentage: Approximately 84.1% (b) 1. Sole power to vote or direct vote: 5,625,000 2. Shared power to vote or direct vote: 1,447,867 3. Sole power to dispose or direct the disposition: 5,625,000 4. Shared power to dispose or direct the disposition: 0 (c) The Reporting Person has not entered into any transactions in the Shares since the filing of Amendment No. 1 to the Schedule 13D filed by the Reporting Person on February 29, 2024. 3 Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer .

is hereby amended to add the following

Item 6 is hereby amended to add the following: On July 22, 2024, the Reporting Person entered into a Securities Purchase Agreement (the “Purchase Agreement”) with the purchaser named therein (the “Purchaser”), pursuant to which the Reporting Person agreed to (1) sell to the Purchaser all of his right and interest in (i) 627,187 shares of Common Stock of the Issuer (the “Sold Common Stock”), (ii) 2,000,000 shares of Series A Preferred Stock of the Issuer (the “Preferred Securities”) and (iii) warrants to purchase up to an additional 2,800,000 shares of Common Stock of the Issuer (the “Warrants”, and together with the Sold Common Stock and the Preferred Securities, as well as any shares of Common Stock of the Issuer into which the Preferred Securities may be converted, the “Securities”) and (2) transfer to the Purchaser all of his right, title and interest in the SPA, pursuant to which the Reporting Person acquired the Securities. The aggregate purchase price paid by the Purchaser under the Purchase Agreement is $5,600,000 (the “Purchase Price”). The Purchase Agreement is subject to the satisfaction of certain closing conditions, including the appointment of certain designees of the Purchaser to the board of directors of the Issuer, and contains customary representations, warranties and agreements of the Reporting Person and the Purchaser, indemnification rights and other obligations of the parties. On July 22, 2024, the Reporting Person also entered into an Escrow Agreement pursuant to which, among other things, the Purchaser placed into escrow the Purchase Price. Prior to the closing of the Purchase Agreement, the Reporting Person anticipates receiving 602,187 shares of Common Stock from the Company as compensation for his service as Chief Executive Officer and Chief Financial Officer of the Issuer in lieu of accrued and unpaid salary and fees owed to him. The foregoing descript

is hereby amended to add the following

Item 7 is hereby amended to add the following: 99.4 Securities Purchase Agreement, dated as of July 22, 2024, by and between David Lazar and Yihucha Technology Co., Ltd. 99.5 Escrow Agreement, dated as of July 22, 2024, by and between David Lazar, Yihucha Technology Co., Ltd., and McMurdo Law Group, LLC. 4

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of his knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: July 24, 2024 /s/ DAVID E. LAZAR DAVID E. LAZAR 5

View Full Filing

View this SC 13D/A filing on SEC EDGAR