Global Value Investment Corp. Amends Fluent, Inc. Filing

Ticker: FLNT · Form: SC 13D/A · Filed: Dec 3, 2024 · CIK: 1460329

Sentiment: neutral

Topics: schedule-13d, amendment, ownership-filing

Related Tickers: FLNT

TL;DR

GLOBAL VALUE INVESTMENT CORP. just updated their Fluent, Inc. stake filing - watch this space.

AI Summary

GLOBAL VALUE INVESTMENT CORP. filed an amendment (Amendment No. 3) to its Schedule 13D on December 3, 2024, regarding its beneficial ownership of Fluent, Inc. The filing indicates a change in the reporting person's holdings, though specific new dollar amounts or percentages are not detailed in this excerpt. The filing is an update to previous submissions concerning Fluent, Inc. stock.

Why It Matters

This filing signals a potential shift in significant ownership of Fluent, Inc. by a major investor, which could influence the company's stock performance and strategic direction.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D filings often indicate changes in significant shareholder positions, which can lead to increased stock volatility.

Key Players & Entities

FAQ

What is the primary purpose of this SC 13D/A filing?

This filing, Amendment No. 3, is an update to the Schedule 13D concerning the beneficial ownership of Fluent, Inc. by GLOBAL VALUE INVESTMENT CORP.

Who is the subject company in this filing?

The subject company is Fluent, Inc., with Central Index Key 0001460329.

Who is the entity filing the amendment?

The entity filing the amendment is GLOBAL VALUE INVESTMENT CORP., with Central Index Key 0001569866.

When was this amendment filed?

This amendment was filed on December 3, 2024.

What were Fluent, Inc.'s former names?

Fluent, Inc. was formerly known as Cogint, Inc. (name change 20160923), IDI, Inc. (name change 20150520), and Tiger Media, Inc. (name change 20121231).

Filing Stats: 3,555 words · 14 min read · ~12 pages · Grade level 10 · Accepted 2024-12-03 17:15:29

Key Financial Figures

Filing Documents

Identity and Background

Item 2. Identity and Background.

is amended and restated as follows

Item 2 is amended and restated as follows: (a) Name This Statement is filed by: (i) Global Value Investment Corporation, a Delaware corporation (“GVIC”); (ii) Jeffrey R. Geygan, who serves as a director of GVIC, and is the controlling person of GVIC; (iii) James P. Geygan, who serves as the interim chief executive officer and a director of GVIC; (iv) Stacy A. Wilke, who serves as the chief financial officer of GVIC; (v) Kathleen M. Geygan, who serves as a director of GVIC; and (vi) Shawn G. Rice, who serves as a director of GVIC. Each of the foregoing is referred to as a “Reporting Person” and collectively as the “Reporting Persons.” GVIC serves as investment adviser to managed accounts (collectively, the “Accounts”), and may be deemed to have beneficial ownership over the Common Stock held for the Accounts. GVIC owns 9,385 shares of Common Stock in its corporate capacity. Mr. Jeffrey Geygan, Mr. James Geygan, Ms. Wilke, Ms. Geygan, and Mr. Rice each own shares of Common Stock in their individual capacities. These shares may be deemed to be indirectly beneficial owned by GVIC. Mr. Jeffrey Geygan owns 54,584 shares in his individual capacity. Mr. James Geygan owns 8,599 shares in his individual capacity. Ms. Wilke owns 3,869 shares in her individual capacity. Ms. Geygan owns 9,875 shares in her individual capacity. Mr. Rice owns 13,459 shares in his individual capacity. Mr. Jeffrey Geygan, Mr. James Geygan, Ms. Geygan, and Mr. Rice are the directors of GVIC. Mr. James Geygan and Ms. Wilke are the executive officers of GVIC. As a result of his ownership interest in GVIC, Mr. Jeffrey Geygan is the controlling person of GVIC. As each of the Reporting Persons, directly or indirectly, share the power to vote, or direct the voting of, the Common Stock held for the Accounts, and the power to dispose, or to direct the disposition of, the Common Stock held for the Accounts, each may be deemed to have benefi

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration.

is amended and restated as follows

Item 3 is amended and restated as follows: All of the shares of Common Stock to which this Statement relates were purchased on behalf of the Reporting Persons using the investment capital of the Reporting Persons. Such shares of Common Stock are or may be held from time to time in margin accounts established with their respective brokers or banks, and a portion of the purchase price for the Common Stock may have been obtained through margin borrowing. Common Stock positions held in margin accounts may be pledged as collateral security for the repayment of debit balances in the margin accounts. The aggregate purchase price of the 3,047,924 shares of Common Stock acquired was approximately $11,447,458.62 (excluding commissions). Page 9 of 12

Purpose of Transaction

Item 4. Purpose of Transaction.

is amended and restated as follows

Item 4 is amended and restated as follows: The Reporting Persons purchased the shares of Common Stock for investment purposes, and such purchases have been made in the ordinary course of business of the Reporting Persons. In pursuing such investment purposes, the Reporting Persons may further purchase, hold, vote, trade, dispose, or otherwise deal in the Common Stock at times, and in such manner, as they deem advisable to benefit from, among other things, (1) changes in the market prices of the shares of Common Stock; (2) changes in the Issuer’s operations, business strategy, or prospects; or (3) from the sale or merger of the Issuer. To evaluate such alternatives, the Reporting Persons will closely monitor the Issuer’s operations, prospects, business development, management, competitive and strategic matters, capital structure, and prevailing market conditions, as well as other economic, securities markets, and investment considerations. Consistent with their investment research methods and evaluation criteria, the Reporting Persons have in the past discussed, and may in the future discuss, such matters with the management or Board of Directors of the Issuer (the “Board”), other stockholders, industry analysts, existing or potential strategic partners or competitors, investment and financing professionals, sources of credit, and other investors. Such evaluations and discussions may materially affect, and result in, among other things, the Reporting Persons (1) modifying their ownership of the Common Stock; (2) exchanging information with the Issuer pursuant to appropriate confidentiality or similar agreements; (3) proposing changes in the Issuer’s operations, governance, or capitalization; or (4) pursuing one or more of the other actions described in subsections (a) through (j) of Item 4 of Schedule 13D. In addition to the information disclosed in this Statement, the Reporting Persons reserve the right to (1) formulate other plans

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer.

is amended and restated as follows

Item 5 is amended and restated as follows: (a) and (b) The responses of the Reporting Persons to rows 7, 8, 9, 10, 11 and 13 on the cover pages of this Statement are incorporated herein by reference. As of 4:00 p.m., Eastern time, on December 2, 2024, the Reporting Persons beneficially owned 3,047,924 shares of Common Stock, representing approximately 14.83% of the outstanding shares of Common Stock. The percentage in this paragraph relating to beneficial ownership of Common Stock is based on 20,548,162 shares of Common Stock (upon full exercise of pre-funded warrants), $0.0005 par value per share outstanding as of December 2, 2024, as reported in the Form 10-Q for the fiscal quarter ended September 30, 2024, and the Form 8-K filed December 2, 2024, of the Issuer. (c) Except as set forth in Schedule A, none of the Reporting Persons has effected any transactions in the Common Stock in the 60 days prior to the date of this Statement. (d) No other person is known to the Reporting Persons to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares of Common Stock covered by this Statement. (e) Not applicable. Page 10 of 12

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: December 3, 2024 GLOBAL VALUE INVESTMENT CORP. By: /s/ James P. Geygan Name: James P. Geygan Title: Interim Chief Executive Officer /s/ Jeffrey R. Geygan Jeffrey R. Geygan /s/ James P. Geygan James P. Geygan /s/ Stacy A. Wilke Stacy A. Wilke /s/ Kathleen M. Geygan Kathleen M. Geygan /s/ Shawn G. Rice Shawn G. Rice Page 11 of 12 Schedule A Transactions by the Reporting Persons in the Past 60 Days The following table sets forth all unreported transactions with respect to the Common Stock effected in the last 60 days by or on behalf of the Reporting Persons, inclusive of any transactions effected through 4:00 p.m., Eastern time, on December 2, 2024. Unless otherwise indicated, all such transactions were effected in the open market. Person Effecting the Transaction Transaction Date Nature of Transaction Securities Transacted Price per Share Clients of GVIC 10/10/2024 Purchase of Common Stock 441 $2.8655 (1) Clients of GVIC 10/16/2024 Purchase of Common Stock 5,419 $3.2332 (1) Clients of GVIC 10/23/2024 Purchase of Common Stock 4,701 $3.2077 (1) Clients of GVIC 10/24/2024 Purchase of Common Stock 3,116 $3.2249 (1) Clients of GVIC 10/24/2024 Sale of Common Stock 834 $3.1797 (2) Clients of GVIC 10/28/2024 Sale of Common Stock 3517 $3.0374 (2) Clients of GVIC 10/31/2024 Sale of Common Stock 876 $2.9497 (2) Clients of GVIC 11/07/2024 Sale of Common Stock 10 $3.0500 (2) Clients of GVIC 11/12/2024 Sale of Common Stock 1,488 $3.0498 (2) Clients of GVIC 11/18/2024 Sale of Common Stock 120 $3.0998 (2) Clients of GVIC 11/29/2024 Purchase of Common Stock 1,888,291 $2.3152 (3) GVIC 11/29/2024 Purchase of Common Stock 5,7

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