Nack Y. Paek Discloses 5.0% Stake in MetroCity Bankshares
Ticker: MCBS · Form: SC 13G · Filed: Jan 31, 2024 · CIK: 1747068
| Field | Detail |
|---|---|
| Company | Metrocity Bankshares, Inc. (MCBS) |
| Form Type | SC 13G |
| Filed Date | Jan 31, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | bullish |
Complexity: simple
Sentiment: bullish
Topics: insider-ownership, beneficial-ownership, SC-13G
TL;DR
**Nack Y. Paek now owns 5.0% of MetroCity Bankshares, a notable insider stake.**
AI Summary
Nack Y. Paek, an individual, reported beneficial ownership of 1,273,185 shares of MetroCity Bankshares, Inc. common stock as of December 31, 2023. This represents 5.0% of the company's outstanding shares. Paek holds sole voting and dispositive power over 1,253,185 shares and shared voting and dispositive power over an additional 20,000 shares. This filing indicates a significant individual stake in the bank, which could signal confidence in its future performance to current and prospective investors.
Why It Matters
A significant individual ownership stake like this can be seen as a vote of confidence in the company's future, potentially influencing investor sentiment positively.
Risk Assessment
Risk Level: low — This filing indicates a significant individual ownership stake, which is generally not a high-risk event for investors.
Analyst Insight
Smart investors might view this significant individual stake as a positive signal, suggesting confidence from a key individual, and could consider further research into MetroCity Bankshares, Inc.'s fundamentals.
Key Numbers
- 1,273,185 — Total Shares Beneficially Owned (Aggregate amount of MetroCity Bankshares, Inc. shares owned by Nack Y. Paek)
- 5.0% — Percentage of Class (Percentage of MetroCity Bankshares, Inc. common stock owned by Nack Y. Paek)
- 1,253,185 — Sole Voting Power Shares (Shares over which Nack Y. Paek has sole voting and dispositive power)
- 20,000 — Shared Voting Power Shares (Shares over which Nack Y. Paek has shared voting and dispositive power)
Key Players & Entities
- Nack Y. Paek (person) — Reporting Person, beneficial owner of MetroCity Bankshares, Inc. shares
- MetroCity Bankshares, Inc. (company) — Subject Company, whose shares are being reported
- 1,273,185 (dollar_amount) — Aggregate shares beneficially owned by Nack Y. Paek
- 5.0% (dollar_amount) — Percentage of MetroCity Bankshares, Inc. shares beneficially owned by Nack Y. Paek
- December 31, 2023 (date) — Date of event requiring the filing of this statement
Forward-Looking Statements
- Nack Y. Paek will maintain a significant ownership stake in MetroCity Bankshares, Inc. (Nack Y. Paek) — medium confidence, target: December 31, 2024
FAQ
Who is the reporting person in this SC 13G filing?
The reporting person is Nack Y. Paek, as stated in Item 1 of the filing.
What is the subject company whose shares are being reported?
The subject company is MetroCity Bankshares, Inc., as identified in the 'Name of Issuer' section and the 'SUBJECT COMPANY' data.
As of what date was the beneficial ownership reported?
The date of the event which requires the filing of this statement was December 31, 2023, as specified in the filing.
How many shares of MetroCity Bankshares, Inc. does Nack Y. Paek beneficially own in total?
Nack Y. Paek beneficially owns an aggregate of 1,273,185 shares of MetroCity Bankshares, Inc., which is the sum of sole and shared voting/dispositive power shares (1,253,185 + 20,000).
What percentage of MetroCity Bankshares, Inc.'s common stock does Nack Y. Paek own?
Nack Y. Paek owns 5.0% of the common stock of MetroCity Bankshares, Inc., as indicated in the filing's summary data.
Filing Stats: 638 words · 3 min read · ~2 pages · Grade level 7.6 · Accepted 2024-01-31 09:02:08
Key Financial Figures
- $0.01 — Inc. (Name of Issuer) Common Stock, $0.01 par value per share (Title of Class o
Filing Documents
- tmb-20240131xsc13g.htm (SC 13G) — 51KB
- 0001254478-24-000003.txt ( ) — 52KB
SIGNATURES
SIGNATURES 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: January 31, 2024 /s/ Nack Y. Paek Nack Y. Paek 5