Azarias Capital Takes 7.2% Stake in Unifi Inc.

TL;DR

**Azarias Capital just bought 7.2% of Unifi, signaling institutional confidence.**

AI Summary

Azarias Capital Management, L.P., a Delaware-based investment firm, has disclosed a significant stake in Unifi, Inc. (UFI), a textile manufacturer. As of December 31, 2023, Azarias beneficially owns 1,363,424 shares of Unifi's common stock, representing 7.2% of the company. This filing indicates a notable institutional investment, suggesting Azarias sees value in Unifi, which could be a positive signal for current and prospective shareholders.

Why It Matters

A substantial investment by an institutional fund like Azarias Capital can signal confidence in Unifi's future prospects, potentially attracting more investor interest and influencing the stock price positively.

Risk Assessment

Risk Level: low — This filing indicates a new institutional investment, which is generally seen as a positive development and does not inherently increase risk for shareholders.

Analyst Insight

A smart investor would view this as a potential vote of confidence from an institutional investor and might consider further research into Unifi, Inc.'s fundamentals and future prospects, especially given the 7.2% stake.

Key Numbers

• 1,363,424 — Shares Beneficially Owned (Represents Azarias Capital Management's total holding in Unifi, Inc.)
• 7.2% — Percentage of Class (Indicates the significant ownership stake Azarias Capital Management has in Unifi, Inc.)
• 904677200 — CUSIP Number (Unique identifier for Unifi, Inc.'s common stock.)

Key Players & Entities

• Azarias Capital Management, L.P. (company) — the investment firm filing the SC 13G
• Unifi, Inc. (company) — the subject company in which shares were acquired
• 1,363,424 (dollar_amount) — number of shares beneficially owned by Azarias Capital
• 7.2% (dollar_amount) — percentage of Unifi's common stock owned by Azarias Capital
• December 31, 2023 (person) — date of the event requiring the filing

Forward-Looking Statements

• Unifi Inc.'s stock price may see a short-term positive reaction due to increased institutional ownership. (Unifi, Inc.) — medium confidence, target: Q1 2024
• Azarias Capital Management, L.P. may seek to engage with Unifi's management regarding strategic direction or operational improvements. (Azarias Capital Management, L.P.) — low confidence, target: Q2 2024

FAQ

Filing Documents

• ufi_12324.htm (SC 13G) — 25KB
• 0001085146-24-000516.txt ( ) — 27KB

(a)

ITEM 1(a). NAME OF ISSUER: Unifi, Inc.

(b)

ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 7201 West Friendly Ave. Greensboro, NC 27140

(a)

ITEM 2(a). NAME OF PERSON FILING: Azarias Capital Management L.P.

(b)

ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE: 1055 Westlakes Dr. Berwyn, PA 19312

(c)

ITEM 2(c). CITIZENSHIP: DE

(d)

ITEM 2(d). TITLE OF CLASS OF SECURITIES: COMMON STOCK

(e)

ITEM 2(e). CUSIP NUMBER: 904677200 ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SECTION 240.13d-1(b), or 13d-2(b) or (c) CHECK WHETHER THE PERSON FILING IS A: (a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78c); (b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c); (c) [ ] Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c); (d) [ ] Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8); (e) [X] An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); (g) [ ] A parent holding company or control person in accordance with 240.13d-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 (15 U.S.C. 80a-3); (j) [ ] A non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J); (k) [ ] Group, in accordance with 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with 240.13d1(b)(1)(ii)(J), please specify the type of institution: ITEM 4. (a) Amount beneficially owned: 1,363,424 (b) Percent of class: 7.53% (c) Number of shares as to which the person has: (i) sole power to vote or to direct the vote: 1,363,424 (ii) shared power to vote or to direct the vote: (iii) sole power to dispose or direct the disposition of: (iv) shared power to dispose or to direct the disposition of: ITEM 5. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the followi

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