IMA Value Amends RAVE 13D, Signals Continued Significant Stake

TL;DR

**IMA Value is still a big player in RAVE, watch for potential influence.**

AI Summary

IMA Value, L.L.P. filed an Amendment No. 2 to its Schedule 13D for RAVE RESTAURANT GROUP, INC. (RAVE) on February 5, 2024, updating its previous filing from January 31, 2023. This filing indicates a continued significant ownership stake by IMA Value, L.L.P. in RAVE's common stock, par value $0.01 per share. This matters to investors because a large, active shareholder like IMA Value, L.L.P. can influence corporate decisions, potentially leading to strategic changes or M&A activity that could impact the stock price.

Why It Matters

A major shareholder's updated filing signals their ongoing interest and potential influence over RAVE's strategic direction, which could affect future stock performance.

Risk Assessment

Risk Level: medium — The risk is medium because a large shareholder's actions can create both opportunities and uncertainties for the company and its stock price.

Analyst Insight

Investors should monitor future filings from IMA Value, L.L.P. for any changes in their stake or stated intentions, as well as RAVE's corporate announcements for potential strategic shifts influenced by major shareholders.

Key Players & Entities

• IMA Value, L.L.P. (company) — the reporting person and significant shareholder
• RAVE RESTAURANT GROUP, INC. (company) — the subject company whose securities are being reported
• Noam Nakash (person) — person authorized to receive notices for IMA Value, L.L.P.
• $0.01 (dollar_amount) — par value per share of RAVE's common stock

Forward-Looking Statements

• IMA Value, L.L.P. will continue to maintain a significant ownership stake in RAVE RESTAURANT GROUP, INC. (IMA Value, L.L.P.) — high confidence, target: 2025-02-05
• RAVE RESTAURANT GROUP, INC. may experience increased shareholder activism or strategic review due to IMA Value's continued interest. (RAVE RESTAURANT GROUP, INC.) — medium confidence, target: 2024-08-05

FAQ

Key Financial Figures

• $0.01 — me of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securiti

Filing Documents

• sc13da.htm (SC 13D/A) — 55KB
• 0001099910-24-000075.txt ( ) — 57KB

Security and Issuer

Item 1. Security and Issuer. This Statement relates to the common stock, par value $.01 per share (“Common Stock”), of Rave Restaurant Group, Inc. (the “Company”), whose principal executive offices are located at 3551 Plano Parkway, The Colony, Texas 75056. The colony, Texas 75056

Identity and Background

Item 2. Identity and Background. (a) Name of person filling Noam Nakash- Noam Nakash is the founder and majority shareholder of IMA Value (Funds Management) Ltd the General Partner of IMA Value LLP, located at Renanim 8 Ramat Gan, ISRAEL, 5259514 (b) Address of principal Business office Renanim 8 Ramat Gan ISRAEL, 5259514 (c) Citizenship: Israeli (d) Title class of securities Common Stock, $0.01 par value (e) During the last five years, the Reporting Person has not been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) (f) During the last five years, the Reporting Person has not been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction, and as a result of such proceeding, was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration. The source of funds is The Limited partnership own funds.

Purpose of Transaction

Item 4. Purpose of Transaction. The purchases of shares of Common Stock by the Reporting Person were for investment purposes. The Reporting Person may purchase additional shares from time to time depending upon price, market conditions, availability of funds, evaluation of other investment opportunities, and other factors. Although the Reporting Person has no present intention to sell any shares, he could determine from time to time to sell some or all of the shares held The Reporting Person does not have any plan or proposal which relates to any of the following matters (a) The acquisition by any person of additional securities of the Issuer, or the disposition of securities of the Issuer; (b) An extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Issuer or any of its subsidiaries; (c) A sale or transfer of a material amount of assets of the Issuer or of any of its subsidiaries; (d) Any change in the present board of directors or management of the Issuer, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board other than by invitation of members of the Board. Mr. Bares has resigned from the Board of Directors effective 1-6-2021. (e) Any material change in the present capitalization or dividend policy of the Issuer; (f) Any other material change in the Issuer’s business or corporate structure; (g) Changes in the Issuer’s charter, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the issuer by any person; (h) Causing a class of securities of the Issuer to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; (i) A class of equity securities of the Issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer. ( a) The percentages of shares of the Common Stock reported to be owned by the Reporting Persons is based upon 14,586,566 shares outstanding, which is the total number of outstanding shares of Common Stock reported in the Company’s Form 10-Q For the quarterly period ended December 24, 2023, as filed with the Securities and Exchange Commission on February 1, 2024. (b) Noam Nakash For IMA Value LLP has the sole power to vote and dispose of the shares of Common Stock that he directly beneficially owns. (c) N/A (d) N/A

Contracts, Arrangements, Understandings or Relationships With Respect to

Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer. NONE

Material to be Filed as Exhibits

Item 7. Material to be Filed as Exhibits. NONE CUSIP No. 754198109 13D Page 5 of 5 Pages 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. IMA Value LLP /s/ Noam Nakash Noam Nakash CEO (Title) February 2, 2024 (Date)

View Full Filing

View this SC 13D/A filing on SEC EDGAR