Exploration Capital Takes 5.0% Stake in Gouverneur Bancorp
Ticker: GOVB · Form: SC 13G · Filed: Jan 2, 2024 · CIK: 1978811
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, passive-stake, SC-13G, new-investment
TL;DR
**Exploration Capital just bought 5% of Gouverneur Bancorp, signaling a potential bullish move.**
AI Summary
Exploration Capital, LLC, a Delaware-based entity, has disclosed a new passive stake in Gouverneur Bancorp, Inc. (GOUV) by acquiring beneficial ownership of 56,565 shares of common stock, representing 5.0% of the company. This filing, dated December 21, 2023, indicates that Exploration Capital holds both shared voting and shared dispositive power over these shares. This matters to investors because a new institutional investor taking a significant stake can signal confidence in the company's future prospects, potentially influencing other investors and the stock price.
Why It Matters
A new institutional investor taking a 5.0% stake can signal confidence in the company, potentially attracting more investment and positively impacting the stock price.
Risk Assessment
Risk Level: low — This filing indicates a passive investment, which generally carries lower risk than activist stakes, and simply discloses a new ownership position.
Analyst Insight
A smart investor would monitor Gouverneur Bancorp's stock for potential positive momentum following this institutional investment and research Exploration Capital's other holdings for insights into their investment strategy.
Key Numbers
- 56,565 — Shares Beneficially Owned (the total number of Gouverneur Bancorp shares acquired by Exploration Capital, LLC)
- 5.0% — Percentage of Class (the percentage of Gouverneur Bancorp's common stock now owned by Exploration Capital, LLC)
- $0.01 — Par Value (the par value per share of Gouverneur Bancorp's common stock)
- December 21, 2023 — Date of Event (the date when the event requiring this filing occurred)
Key Players & Entities
- Exploration Capital, LLC (company) — the reporting person acquiring shares
- Gouverneur Bancorp, Inc. (company) — the subject company whose shares were acquired
- Delaware (place) — state of incorporation for Exploration Capital, LLC
- Stephen L. Gustin (person) — listed as a group member
Forward-Looking Statements
- Gouverneur Bancorp's stock price may see a slight positive movement due to increased institutional interest. (Gouverneur Bancorp, Inc.) — medium confidence, target: Q1 2024
- Exploration Capital, LLC will maintain its passive stake in Gouverneur Bancorp for the foreseeable future. (Exploration Capital, LLC) — high confidence, target: Q4 2024
FAQ
What is the specific percentage of Gouverneur Bancorp, Inc. common stock now beneficially owned by Exploration Capital, LLC?
Exploration Capital, LLC now beneficially owns 5.0% of the common stock of Gouverneur Bancorp, Inc., as indicated by the filing's cover page.
What is the total number of shares of Gouverneur Bancorp, Inc. common stock that Exploration Capital, LLC beneficially owns?
Exploration Capital, LLC beneficially owns an aggregate amount of 56,565 shares of Gouverneur Bancorp, Inc. common stock, as stated in item (9) of the cover page.
What type of voting and dispositive power does Exploration Capital, LLC have over these shares?
Exploration Capital, LLC has shared voting power and shared dispositive power over all 56,565 shares, as detailed in items (6) and (8) of the cover page.
When was the event that triggered the requirement for this SC 13G filing?
The event which required the filing of this statement occurred on December 21, 2023, as specified in the filing.
Under which rule of the Securities Exchange Act of 1934 was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(c) of the Securities Exchange Act of 1934, as indicated by the checked box on the filing.
Filing Stats: 762 words · 3 min read · ~3 pages · Grade level 10.1 · Accepted 2023-12-29 20:18:33
Key Financial Figures
- $0.01 — me of Issuer) Common Stock, par value $0.01 (Title of Class of Securities) 3835
Filing Documents
- ea190953-13gexplor_gouvern.htm (SC 13G) — 46KB
- 0001213900-23-100225.txt ( ) — 47KB
(A) NAME OF ISSUER
ITEM 1(A) NAME OF ISSUER: Gouverneur Bancorp, Inc.
(B) ADDRESS OF ISSUER’S PRINCIPAL EXECUTIVE OFFICES
ITEM 1(B) ADDRESS OF ISSUER’S PRINCIPAL EXECUTIVE OFFICES: 42 Church Street Gouverneur, NY 13642
(A) NAME OF PERSON FILING
ITEM 2 (A) NAME OF PERSON FILING: Exploration Capital, LLC Stephen L. Gustin
(B) ADDRESS OR PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE
ITEM 2 (B) ADDRESS OR PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE: 250 East 200 South, Floor 16 Salt Lake City, UT 84111
(C) CITIZENSHIP
ITEM 2 (C) CITIZENSHIP: Exploration Capital, LLC – Delaware Stephen L. Gustin – United States
(D) TITLE OF CLASS OF SECURITIES
ITEM 2 (D) TITLE OF CLASS OF SECURITIES: Common Stock, $0.01 par value per share (“Common Stock”).
(E) CUSIP Number
ITEM 2 (E) CUSIP Number: 38358M109
IF THIS STATEMENT IS FILED PURSUANT TO §§ 240.13D-1(B)
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO §§ 240.13D-1(B) OR 240.13D-2(B) OR (C), CHECK WHETHER THE PERSON FILING IS A: This statement is filed pursuant to Rule 13d-1(c).
OWNERSHIP
ITEM 4. OWNERSHIP See the Cover Pages for each Reporting Person.
OWNERSHIP OF 5 PERCENT OR LESS OF A CLASS
ITEM 5. OWNERSHIP OF 5 PERCENT OR LESS OF A CLASS Not Applicable.
OWNERSHIP OF MORE THAN 5 PERCENT ON BEHALF OF ANOTHER PERSON
ITEM 6. OWNERSHIP OF MORE THAN 5 PERCENT ON BEHALF OF ANOTHER PERSON Not Applicable. 3
IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY OR CONTROL PERSON Not Applicable.
IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP Not Applicable.
NOTICE OF DISSOLUTION OF GROUP
ITEM 9. NOTICE OF DISSOLUTION OF GROUP Not Applicable.
CERTIFICATIONS
ITEM 10. CERTIFICATIONS By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11. 4 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete, and correct. Dated: 12/29/2023 Exploration Capital, LLC Signature. /s/ Stephen L. Gustin Stephen L. Gustin Managing Partner Stephen L. Gustin Signature. /s/ Stephen L. Gustin Stephen L. Gustin 5