NI Holdings, Inc. Sees 13D Filing Amendment

TL;DR

NI Holdings, Inc. (NIHD) 13D filing amended by Martin Sklar - could mean big moves ahead.

AI Summary

On October 16, 2024, Martin Sklar, represented by Kleinberg, Kaplan, Wolff & Cohen P.C., filed an amendment (Amendment No. 1) to Schedule 13D for NI Holdings, Inc. This filing indicates a change in reporting status, as the filer previously filed a Schedule 13G and is now transitioning to a Schedule 13D, suggesting a potential shift in their investment strategy or stake.

Why It Matters

This amendment signals a potential change in the investment landscape for NI Holdings, Inc., as a significant holder transitions from a less stringent 13G filing to a more detailed 13D, which could precede further action or disclosure.

Risk Assessment

Risk Level: medium — The transition from a 13G to a 13D filing often indicates increased engagement or a change in strategy by a significant shareholder, which can introduce uncertainty.

Key Numbers

• Amendment No. 1 — Filing Amendment (Indicates a change or update to a previous filing.)
• October 16, 2024 — Filing Date (Date of the event requiring the filing.)

Key Players & Entities

• NI Holdings, Inc. (company) — Subject Company
• Martin Sklar (person) — Filing Person Representative
• Kleinberg, Kaplan, Wolff & Cohen P.C. (company) — Legal Counsel for Filing Person
• 0001013594-24-000813 (filing_id) — Accession Number

FAQ

Key Financial Figures

• $0.01 — ame of Issuer) Common Stock, Par Value $0.01 (Title of Class of Securities) 65342
• $15.50 — Sold) 10/18/2024 SELL Common Stock $15.50 (5,541) 10/17/2024 SELL Common Stoc
• $15.51 — 5,541) 10/17/2024 SELL Common Stock $15.51 (21,238) 10/16/2024 SELL Common Sto
• $15.46 — 1,238) 10/16/2024 SELL Common Stock $15.46 (16,007) 10/11/2024 SELL Common Sto
• $15.60 — (529) 10/9/2024 SELL Common Stock $15.60 (83) 10/8/2024 SELL Common Stock $
• $15.68 — 0 (83) 10/8/2024 SELL Common Stock $15.68 (25,000) 9/30/2024 SELL Common Stoc
• $15.62 — .68 (9) 9/3/2024 SELL Common Stock $15.62 (1,093) 8/29/2024 SELL Common Stock
• $15.05 — (1,093) 8/29/2024 SELL Common Stock $15.05 (29,727) 8/21/2024 SELL Common Stoc
• $15.69 — 29,727) 8/21/2024 SELL Common Stock $15.69 (11,036) 3 Including any brokerage fe

Filing Documents

• niholdings13da-10162024.htm (SC 13D/A) — 37KB
• 0001013594-24-000813.txt ( ) — 38KB

Security and Issuer

Item 1. Security and Issuer The following constitutes Amendment No. 1 (the " Amendment No. 1 ") to the Schedule 13D filed by the undersigned on March 5, 2020. This Amendment No. 1 amends the Schedule 13D as specifically set forth herein.

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration

of the Schedule 13D is hereby amended and restated in its entirety as follows

Item 3 of the Schedule 13D is hereby amended and restated in its entirety as follows: All of the Shares to which this Statement relates were purchased on behalf of the Reporting Person using personal investment capital. The aggregate amount of funds used for the purchase of the securities held by the Reporting Person was approximately $ 15,565,783, including commissions.

. Interest in Securities of the Issuer

Item 5 . Interest in Securities of the Issuer

of the schedule 13D is hereby amended and restated in its entirety as follows

Item 5 of the schedule 13D is hereby amended and restated in its entirety as follows: (a)-(b) The aggregate percentage of shares of Common Stock reported owned is based upon 20,648,642 shares of Common Stock outstanding as of July 31, 2024, as reported in the Issuer's Form 10-Q filed with the Securities and Exchange Commission on October 8, 2024. As of the date hereof, the Mr. Thorp beneficially owned 1,000,000 2 Shares, constituting approximately 4.8% of the Shares outstanding. Mr. Thorp has sole voting and dispositive power over the shares of Common Stock directly held by him. (c) Except as disclosed on Schedule A attached hereto, the Reporting Person has not entered into any transactions involving the Common Stock during the past 60 days. As of the date hereof, the Reporting Person beneficially owns an aggregate of 1,000,000 Shares, constituting approximately 4.8% of the outstanding Shares. The Reporting Person disclaims beneficial ownership of such Shares except to the extent of his pecuniary interest therein. (d) No Person is known to the Reporting Person to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, any Shares that may be beneficially owned by the Reporting Person. (e) The Reporting Person ceased to beneficially own more than five percent (5%) of the Common Stock on October 16, 2024. 2 All of the Shares are held in the Jeffrey Thorp Roth IRA, for which Mr. Thorp has sole voting and dispositive power. 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: October 18, 2024 By:_ /s/ Jeffrey Thorp __________ Jeffrey Thorp, a natural person SCHEDULE A Transactions in the Common Stock of the Issuer by Reporting Persons During the Past 60 Days Date Buy/Sell Security Approximate Price Per Share 3 Amount of Shares Bought/(Sold) 10/18/2024 SELL Common Stock $15

View Full Filing

View this SC 13D/A filing on SEC EDGAR