Nierenberg Investment Management amends Riverview Bancorp filing

TL;DR

Nierenberg Investment Management updated their Riverview Bancorp filing on 11/21/24. Watch for changes.

AI Summary

Nierenberg Investment Management Company, Inc. filed an amendment to its Schedule 13D on November 21, 2024, regarding its holdings in Riverview Bancorp Inc. The filing indicates a change in beneficial ownership, though specific new holdings or dollar amounts are not detailed in this excerpt. David Nierenberg is listed as a contact person for the filing.

Why It Matters

This amendment signals a potential shift in the ownership structure or strategy of Riverview Bancorp Inc., which could impact its stock price and future corporate actions.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D filings often indicate significant changes in a major shareholder's stake, which can lead to increased volatility.

Key Players & Entities

• Nierenberg Investment Management Company, Inc. (company) — Filing entity
• Riverview Bancorp Inc. (company) — Subject company
• David Nierenberg (person) — Contact person for filing
• Christopher P. Davis (person) — Legal counsel

FAQ

Key Financial Figures

• $0.01 — ame of Issuer) Common Stock, par value $0.01 (Title of Class of Securities) 769397
• $5,944,913 — ported in Item 5(a,b) was approximately $5,944,913. The source of funds for purchases of S
• $4.87 — d, L.P. 11/19/2024 BUY Common Stock $4.87 73,581 11/20/2024 BUY Common Stock
• $4.94 — 73,581 11/20/2024 BUY Common Stock $4.94 4,933 The D3 Family Bulldog Fund, L.P
• $4.65 — erenberg 9/20/2024 BUY Common Stock $4.65 5,004 9/23/2024 BUY Common Stock $
• $4.64 — 10,388 9/25/2024 BUY Common Stock $4.64 12,519 9/26/2024 BUY Common Stock

Filing Documents

• riverview13da1-112124.htm (SC 13D/A) — 99KB
• 0001013594-24-001000.txt ( ) — 101KB

Security and Issuer

Item 1. Security and Issuer. The following constitutes Amendment No. 1 to the Schedule 13D filed by the undersigned (the"Amendment No. 1"). 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: The total amount of funds used by the Reporting Persons to make all purchases of Shares beneficially owned by the Reporting Persons, as reported in Item 5(a,b) was approximately $5,944,913. The source of funds for purchases of Shares by each of the Reporting Persons is the working capital of the applicable D3 Family Fund and the Managed Account.

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) The aggregate percentage of Shares reported owned by each person named herein is based upon 21,068,603 Shares outstanding as of November 8, 2024, which is the total number of Shares outstanding as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 8, 2024. As of the close of business on the date hereof, the Family Fund individually beneficially owned 447,260 Shares, constituting approximately 2.1% of all of the outstanding Shares. As of the close of business on the date hereof, the Bulldog Fund individually beneficially owned 787,709 Shares, constituting approximately 3.7% of all of the outstanding Shares. As of the close of business on the date hereof, the Managed Account individually beneficially owned 51,453 Shares, constituting less than 1% of all of the outstanding Shares. By virtue of its relationships with each of the Family Fund, the Bulldog Fund and the Managed Account discussed in further detail in Item 2, NIMCO may be deemed to be the beneficial owner of the 1,286,422 Shares beneficially owned in the aggregate by the Family Fund, the Bulldog Fund and the Managed Account, constituting approximately 6.1% of all of the outstanding Shares. By virtue of his relationship with NIMCO discussed in further detail in Item 2, the Shares that he holds in his personal capacity and the Shares held in the Inherited IRA, Mr. Nierenberg may be deemed to be the beneficial owner of the 1,349,557 Shares beneficially owned by NIMCO, those held in his personal capacity and those held in the Inherited IRA, constituting approximately 6.4% of all of the outstanding Shares. The Reporting Persons, in the aggregate, beneficially own 1,349,557 Shares, constituting approximately 6.4% of the outstanding Shares. (b) The Family Fund, NIMCO and Mr. Nierenberg have shared power (i) to vote or direct the vote of, and (ii) to dispo

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View this SC 13D/A filing on SEC EDGAR