Headlands Capital takes 10.1% stake in Noodles & Co
Ticker: NDLS · Form: SC 13D · Filed: Mar 22, 2024 · CIK: 1275158
Sentiment: neutral
Topics: activism, stakeholder, 13D filing
Related Tickers: NDLS
TL;DR
**Headlands Capital now owns 10.1% of Noodles & Co. Big stake.**
AI Summary
On March 22, 2024, Headlands Capital Management, LLC, along with David E. Park III and David Gelobter, filed an SC 13D, indicating they collectively beneficially own 10.1% of Noodles & Company's Class A common stock. This filing suggests a significant stake and potential for activist involvement or strategic discussions with the company.
Why It Matters
This filing signals that a significant institutional investor has taken a substantial stake in Noodles & Company, potentially leading to changes in company strategy, management, or a sale.
Risk Assessment
Risk Level: medium — A 13D filing indicates a significant stake and potential for activism, which can introduce uncertainty and volatility for the company and its stock.
Key Numbers
- 10.1% — Ownership Stake (Percentage of Class A common stock beneficially owned by the filing group.)
Key Players & Entities
- Headlands Capital Management, LLC (company) — Filing entity and beneficial owner
- David E. Park III (person) — Group member and beneficial owner
- David Gelobter (person) — Group member and beneficial owner
- NOODLES & COMPANY (company) — Subject company
- 10.1% (dollar_amount) — Percentage of Class A common stock beneficially owned
FAQ
What is the total percentage of Noodles & Company's Class A common stock beneficially owned by the filing group?
The filing group, including Headlands Capital Management, LLC, David E. Park III, and David Gelobter, beneficially owns 10.1% of the Class A common stock.
Who are the principal beneficial owners listed in this SC 13D filing?
The principal beneficial owners are Headlands Capital Management, LLC, David E. Park III, and David Gelobter.
What is the CUSIP number for Noodles & Company's Class A common stock?
The CUSIP number for Noodles & Company's Class A common stock is 65540B105.
When was this SC 13D filing submitted?
This SC 13D filing was submitted on March 22, 2024.
What is the business address of Noodles & Company?
The business address of Noodles & Company is 520 Zang St., Suite D, Broomfield, CO 80021.
Filing Stats: 2,450 words · 10 min read · ~8 pages · Grade level 9.1 · Accepted 2024-03-22 19:28:32
Key Financial Figures
- $0.01 — ssuer) Class A common stock, par value $0.01 per share (Title of Class of Securitie
- $6,144,379.58 — gregate purchase price of approximately $6,144,379.58. The payment of the aggregate purchase
- $1.86 — er Share High/Low 03/22/2024 22,611 $1.86 $1.8850-$1.8400 03/20/2024 27,001
- $1.8850 — e High/Low 03/22/2024 22,611 $1.86 $1.8850-$1.8400 03/20/2024 27,001 $1.80 $1
- $1.8400 — ow 03/22/2024 22,611 $1.86 $1.8850-$1.8400 03/20/2024 27,001 $1.80 $1.8500 -
- $1.80 — $1.8850-$1.8400 03/20/2024 27,001 $1.80 $1.8500 - $1.7500 03/19/2024 65,571
- $1.8500 — 50-$1.8400 03/20/2024 27,001 $1.80 $1.8500 - $1.7500 03/19/2024 65,571 $1.79 $
- $1.7500 — 03/20/2024 27,001 $1.80 $1.8500 - $1.7500 03/19/2024 65,571 $1.79 $1.8300 - $
- $1.79 — $1.8500 - $1.7500 03/19/2024 65,571 $1.79 $1.8300 - $1.7400 03/18/2024 31,684
- $1.8300 — 0 - $1.7500 03/19/2024 65,571 $1.79 $1.8300 - $1.7400 03/18/2024 31,684 $1.82 $
- $1.7400 — 0 03/19/2024 65,571 $1.79 $1.8300 - $1.7400 03/18/2024 31,684 $1.82 $1.8300 - $
- $1.82 — $1.8300 - $1.7400 03/18/2024 31,684 $1.82 $1.8300 - $1.7850 03/15/2024 84,063
- $1.7850 — 0 03/18/2024 31,684 $1.82 $1.8300 - $1.7850 03/15/2024 84,063 $1.79 $1.8000 - $
- $1.8000 — 0 - $1.7850 03/15/2024 84,063 $1.79 $1.8000 - $1.6700 03/14/2024 21,462 $1.82 $
- $1.6700 — 0 03/15/2024 84,063 $1.79 $1.8000 - $1.6700 03/14/2024 21,462 $1.82 $2.2200 - $
Filing Documents
- ef20024888_sc13d.htm (SC 13D) — 169KB
- ef20024888_ex99-1.htm (EX-99.1) — 8KB
- 0001140361-24-014882.txt ( ) — 179KB
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. March 22, 2024 HEADLANDS STRATEGIC OPPORTUNITIES FUND, LP By: Headlands Capital Management, LLC, its general partner By: /s/ David E. Park III Name: David E. Park III Title: Senior Managing Member HEADLANDS CAPITAL MANAGEMENT, LLC By: /s/ David E. Park III Name: David E. Park III Title: Senior Managing Member By: /s/ David E. Park III Name: David E. Park III By: /s/ David Gelobter Name: David Gelobter Annex A Purchases of Common Stock by Reporting Persons during the last 60 days, each of which was purchased by Headlands Strategic Opportunities Fund, LP and was purchased in the open market: Transaction Date Number of Shares Purchased Price Per Share Price Range per Share High/Low 03/22/2024 22,611 $1.86 $1.8850-$1.8400 03/20/2024 27,001 $1.80 $1.8500 - $1.7500 03/19/2024 65,571 $1.79 $1.8300 - $1.7400 03/18/2024 31,684 $1.82 $1.8300 - $1.7850 03/15/2024 84,063 $1.79 $1.8000 - $1.6700 03/14/2024 21,462 $1.82 $2.2200 - $1.7800 03/13/2024 54,728 $1.92 $2.0500 - $1.8400 03/12/2024 48,320 $2.07 $2.2200 - $2.0000 03/11/2024 51,748 $2.17 $2.2450 - $2.1100 03/08/2024 23,742 $2.22 $2.240 - $2.1800 02/27/2024 26,716 $2.54 $2.5800 - $2.4850 02/26/2024 47,128 $2.50 $2.5500 - $2.4150 02/23/2024 13,806 $2.52 $2.5350 - $2.4985 02/22/2024 12,820 $2.52 $2.5750 - $2.4950 02/21/2024 12,567 $2.55 $2.5800 - $2.4650 02/20/2024 20,113 $2.48 $2.5500 - $2.4050 02/16/2024 24,590 $2.47 $2.5300 - $2.4130 02/15/2024 16,266 $2.54 $2.5800 - $2.5000 02/14/2024 10,813 $2.42 $2.4800 - $2.3700 02/13/2024 16,867 $2.45 $2.5650 - $2.4000 02/09/2024 3,257 $2.58 $2.5800 - $2.5620 02/08/2024 1,785 $2.56 $2.5800 - $2.5100 02/07/2024 11,732 $2.48 $2.5500 - $2.4000 02/06/2024 7,243 $2.41 $2.4600 - $2.3600 02/