Aegis Financial Updates Koil Energy Solutions Stake (SC 13G/A)

TL;DR

**Aegis Financial just updated its stake in Koil Energy Solutions, signaling a potential shift in institutional confidence.**

AI Summary

Aegis Financial Corporation filed an amended SC 13G/A on February 8, 2024, indicating its ownership in Koil Energy Solutions, Inc. (formerly Deep Down, Inc.) as of December 31, 2023. This filing, an amendment number 4, updates their previous disclosures regarding their stake in the oil and gas field machinery and equipment company. This matters to investors because it provides transparency into significant institutional ownership changes, which can influence stock stability and investor confidence.

Why It Matters

This filing shows an institutional investor's updated ownership in Koil Energy Solutions, which can signal their confidence (or lack thereof) in the company's future performance. Significant changes in institutional holdings can impact stock price and liquidity.

Risk Assessment

Risk Level: low — This filing is a routine update of institutional ownership and does not inherently present a direct risk, but rather provides transparency.

Analyst Insight

An investor should review the full SC 13G/A filing to understand the specific changes in Aegis Financial Corporation's ownership percentage and share count in Koil Energy Solutions, as this could indicate a shift in their investment thesis or strategy, potentially influencing market perception.

Key Numbers

• 24372A305 — CUSIP Number (identifies Koil Energy Solutions' Common Stock)
• 005-79086 — SEC File Number (identifies Koil Energy Solutions' registration with the SEC)
• 54-1712996 — IRS Identification No. (identifies Aegis Financial Corporation)

Key Players & Entities

• Aegis Financial Corporation (company) — the reporting person filing the SC 13G/A
• Koil Energy Solutions, Inc. (company) — the subject company in which Aegis Financial holds shares
• Deep Down, Inc. (company) — former name of Koil Energy Solutions, Inc.
• December 31, 2023 (date) — the date of the event requiring the filing
• February 8, 2024 (date) — the filing date of the SC 13G/A

FAQ

Filing Documents

• tm244985d1_sc13ga.htm (SC 13G/A) — 60KB
• 0001104659-24-011882.txt ( ) — 62KB

From the Filing

SC 13G/A 1 tm244985d1_sc13ga.htm SC 13G/A UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 4) Koil Energy Solutions (Name of Issuer) Common Stock (Title of Class of Securities) 24372A305 (CUSIP Number) December 31, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: Rule 13d-1(b) Rule 13d-1(c) Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 24372A305 1. Names of Reporting Persons I.R.S. Identification No. of Above Persons (Entities Only) Aegis Financial Corporation 54-1712996 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) 3. SEC Use Only 4. Citizenship or Place of Organization Delaware Number of Shares Beneficially Owned by Each Reporting Person With 5. Sole Voting Power 0 6. Shared Voting Power 813,000 7. Sole Dispositive Power 0 8. Shared Dispositive Power 813,000 9. Aggregate Amount Beneficially Owned by Each Reporting Person 813,000 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) 11. Percent of Class Represented by Amount in Row (9) 6.8% 12. Type of Reporting Person (See Instructions) IA 2 CUSIP No. 24372A305 1. Names of Reporting Persons I.R.S. Identification No. of Above Persons (Entities Only) Scott L. Barbee 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) 3. SEC Use Only 4. Citizenship or Place of Organization United Number of Shares Beneficially Owned by Each Reporting Person With 5. Sole Voting Power 0 6. Shared Voting Power 813,000 7. Sole Dispositive Power 0 8. Shared Dispositive Power 813,000 9. Aggregate Amount Beneficially Owned by Each Reporting Person 813,000 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) 11. Percent of Class Represented by Amount in Row (9) 6.8% 12. Type of Reporting Person (See Instructions) IN 3 Item 1. (a) Name of Issuer Koil Energy Solutions (b) Address of Issuer’s Principal Executive Offices 1310 Rankin Road, Houston, TX 77073 Item 2. (a) Name of Person Filing (i) Aegis Financial Corporation ("AFC") (ii) Scott L. Barbee ("Barbee") (b) Address of Principal Business Office or, if none, Residence 6862 Elm Street, Suite 830 McLean, Virginia 22101 (c) Citizenship (i) AFC: Delaware (ii) Barbee: United States (d) Title of Class of Securities: Common Stock (e) CUSIP Number: 24372A305 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: (a) Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o); (b) Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); (c) Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c); (d) Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); (e) An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E); (f) An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F); (g) A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G); (h) A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) A non-U.S. institution in accordance with § 240.13d–1(b)(1)(ii)(J); (k) Group, in accordance with § 240.13d–1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with § 240.13d–1(b)(1)(ii)(J), please specify the type of institution:____________________________ 4 Item 4. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: 813,000 shares may be deemed beneficially owned within the meaning of Rule 13d-3 of the Act by (1) Aegis Financial Corporation by virtue of its investm

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