Granite State Capital Cuts Solitron Devices Stake to 5.0%

TL;DR

**Granite State Capital just cut its stake in Solitron Devices to 5.0%, watch for potential stock dip.**

AI Summary

Granite State Capital Management, LLC filed an amended SC 13G/A on January 26, 2024, indicating a change in their beneficial ownership of Solitron Devices, Inc. common stock as of December 31, 2023. The filing shows that Granite State Capital Management, LLC now beneficially owns 275,000 shares, representing 5.0% of Solitron Devices, Inc.'s outstanding common stock. This matters to investors because it reveals a significant institutional investor has reduced their stake, potentially signaling a shift in their confidence in the company's future performance.

Why It Matters

A reduction in a significant institutional investor's stake can signal a loss of confidence, potentially leading to downward pressure on the stock price as other investors react to the news.

Risk Assessment

Risk Level: medium — The reduction in a significant institutional holding could indicate a perceived increase in risk or a less favorable outlook for Solitron Devices, Inc.

Analyst Insight

An investor might consider researching the reasons behind Granite State Capital Management, LLC's reduction in stake and evaluate if those factors could impact Solitron Devices, Inc.'s future performance before making any investment decisions.

Key Numbers

• 275,000 — Shares Beneficially Owned (This is the total number of shares of Solitron Devices, Inc. common stock that Granite State Capital Management, LLC now beneficially owns.)
• 5.0% — Percentage of Class (This represents the percentage of Solitron Devices, Inc.'s outstanding common stock that Granite State Capital Management, LLC beneficially owns as of December 31, 2023.)

Key Players & Entities

• Granite State Capital Management, LLC (company) — the reporting person who filed the SC 13G/A
• Solitron Devices, Inc. (company) — the subject company whose stock is being reported
• 275,000 shares (dollar_amount) — the number of shares beneficially owned by Granite State Capital Management, LLC
• 5.0% (dollar_amount) — the percentage of Solitron Devices, Inc. common stock beneficially owned by Granite State Capital Management, LLC
• December 31, 2023 (date) — the date of the event which required the filing of this statement

Forward-Looking Statements

• Solitron Devices, Inc. (SODI) stock may experience short-term selling pressure. (Solitron Devices, Inc.) — medium confidence, target: Q1 2024
• Other institutional investors might re-evaluate their positions in Solitron Devices, Inc. following this disclosure. (Institutional Investors) — medium confidence, target: Q2 2024

FAQ

Key Financial Figures

• $0.01 — , Inc. (Name of issuer) Common Stock, $0.01 par value (Title of class of securitie

Filing Documents

• ef20019819_sc13ga.htm (SC 13G/A) — 81KB
• 0001140361-24-003930.txt ( ) — 83KB

(a)

Item 1 (a). Name of Issuer: Solitron Devices, Inc.

(b)

Item 1 (b). Address of Issuer's Principal Executive Offices: 901 Sansburys Way West Palm Beach, Florida 33411

(a)

Item 2 (a). Name of Person Filing: This schedule 13G with respect to the Common Stock is filed jointly by the following: Granite State Capital Management, LLC ("Granite") Eric Schleien ("Mr. Schleien") Granite may be deemed to be the beneficial owner of 138,573 shares of the common stock of Solitron Devices, Inc. (the "Common Stock"). Granite acts as an investment adviser to certain persons holding separately managed accounts with Granite, each of whom has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Common Stock. Mr. Schleien may also be deemed to be the beneficial owner of the Common Stock because he controls Granite in his position as Granite's Manager and Chief Executive Officer. Each of Granite and Mr. Schleien disclaim beneficial ownership of the Common Stock, except to the extent of its or his pecuniary interest in such Common Stock, if any. Item 2 (b). Address of Principal Business Office or, if none, Residence: The address of the principal business office of each of Granite and Mr. Schleien is 6725 Brindisi Place, Round Rock, Texas, 78665. Item 2 (c). Citizenship: Granite State Capital Management, LLC was organized, associated or formed under the laws of the State of New Hampshire. Mr. Schleien is a United States Citizen.

(d)

Item 2 (d). Title of Class of Securities: Common Stock, par value $0.01 per share

(e)

Item 2 (e). CUSIP No: 834256208 Item 3. If this Statement is filed pursuant to Rule 13d-1(b), or 13d-2(b), check whether the person filing is a: a. Broker or dealer registered under Section 15 of the Act; b. Bank as defined in Section 3(a)(6) of the Act; c. Insurance company as defined in Section 3(a)(19) of the Act; d. Investment company registered under Section 8 of the Investment Company Act of 1940; e. An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); f. An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); g. A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G); h. A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); i. A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940; j. A non-U.S. institution in accordance with Rule 240.13d-1(b)(1)(ii)(J); k. Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with Rule 240.13d-1(b)(1)(ii)(J), please specify the type of institution: ____ Item 4. The percentages used herein and in the rest of this Schedule 13G are calculated based upon a total of 2,083,436 shares of Common Stock issued and outstanding as of January 17, 2024, as reported in Solitron Devices, Inc.'s Form 10-Q for the quarter ending November 30, 2023. (a) Amount Beneficially Owned: 138,573 shares (b) Percent of Class: 6.65% (c) Number of Shares as to which Granite and Mr. Schleien have: (i) sole power to vote or to direct the vote -0- shares (ii) shared power to vote or to direct the vote 138,573 shares (iii) sole power to dispose or to direct the disposition of -0- shares (iv) shared power to dispose or to direct the disposition of 138,573 shares Item 5. If this statement is being fi

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. Date: January 25, 2024 Granite State Capital Management, LLC By: /s/ Eric Schleien Name: Eric Schleien Its: Manager and Chief Executive Officer Date: January 25, 2024 By: /s/ Eric Schleien Name: Eric Schleien Exhibit A JOINT FILING AGREEMENT The Undersigned agree that the statement on Schedule 13G with respect to the common stock of Solitron Devices, Inc., dated as of January 25, 2024, is, and any amendment thereto signed by each of the undersigned shall be, filed on behalf of each of them pursuant to and in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended. Granite State Capital Management, LLC By: /s/ Eric Schleien Name: Eric Schleien Its: Manager and Chief Executive Officer By: /s/ Eric Schleien Name: Eric Schleien

View Full Filing

View this SC 13G/A filing on SEC EDGAR