MAK Capital Amends Champion Homes Stake
Ticker: SKY · Form: SC 13D/A · Filed: Sep 6, 2024 · CIK: 90896
Sentiment: neutral
Topics: ownership-change, sec-filing, activist-investor
Related Tickers: CHMP
TL;DR
MAK Capital updated their Champion Homes stake filing. Watch this space.
AI Summary
MAK Capital One LLC, along with affiliated entities, has amended its Schedule 13D filing regarding Champion Homes, Inc. The filing, dated September 6, 2024, indicates a change in beneficial ownership. MAK Capital One LLC is based in New York, NY, and Champion Homes, Inc. is headquartered in Troy, MI.
Why It Matters
This filing signals a potential shift in the ownership structure or strategy of Champion Homes, Inc., which could impact its stock price and future business decisions.
Risk Assessment
Risk Level: medium — Schedule 13D filings often precede significant corporate actions or changes in control, which can introduce volatility.
Key Players & Entities
- MAK Capital One LLC (company) — Filer of the Schedule 13D/A
- Champion Homes, Inc. (company) — Subject company of the Schedule 13D/A
- Michael A. Kaufman (person) — Group member associated with MAK Capital
FAQ
What is the primary purpose of this SC 13D/A filing?
This filing is an amendment to a Schedule 13D, indicating a change in the beneficial ownership of Champion Homes, Inc. by MAK Capital One LLC and its affiliated group members.
Who are the main entities involved in this filing?
The main entities are MAK Capital One LLC (the filer) and Champion Homes, Inc. (the subject company).
When was this filing submitted?
The filing was submitted on September 6, 2024.
Where are the principal business addresses of the filer and the subject company?
MAK Capital One LLC's business address is 590 Madison Avenue, 31st Floor, New York, NY 10022. Champion Homes, Inc.'s business address is 755 W Big Beaver Road, Suite 1000, Troy, MI 48084.
Are there any former company names mentioned for Champion Homes, Inc.?
Yes, Champion Homes, Inc. was formerly known as Skyline Champion Corp (name change effective June 1, 2018) and prior to that, SKYLINE CORP (name change effective July 3, 1992).
Filing Stats: 1,769 words · 7 min read · ~6 pages · Grade level 10.8 · Accepted 2024-09-06 18:55:19
Key Financial Figures
- $0.0277 — me of Issuer) Common Stock, par value $0.0277 per share (Title of Class of Securiti
- $90.1622 — t a weighted average per share price of $90.1622. On September 5, 2024, 163,500 Common S
- $90.0139 — t a weighted average per share price of $90.0139. As a result of the Reporting Persons
Filing Documents
- champion_13da8.htm (SC 13D/A) — 96KB
- 0001019056-24-000279.txt ( ) — 98KB
Purpose of Transaction
Item 4. Purpose of Transaction . Item 4 of the Schedule 13D is hereby amended and supplemented as follows: Common Shares were sold in “broker transactions” in accordance with Rule 144 promulgated under the Securities Act of 1933, as amended, as follows: On September 4, 2024, 80,000 Common Shares were sold at a weighted average per share price of $90.1622. On September 5, 2024, 163,500 Common Shares were sold at a weighted average per share price of $90.0139. As a result of the Reporting Persons ceasing to hold more than 5% of the Common Shares, on September 5, 2024 Mr. Kaufman resigned from the Issuer’s Board of Directors, in accordance with that certain Investor Rights Agreement dated as of June 1, 2018.
Interest in Securities
Item 5. Interest in Securities of the Issuer . Item 5 of the Schedule 13D is hereby amended and supplemented as follows: (a) – (b) The information contained in rows 7, 8, 9, 10, 11 and 13 on each of the cover pages of this Amendment No. 8 is incorporated by reference in its entirety into this Item 5. Pursuant to Rule 13d-3 under the Act, the Reporting Persons may be deemed to beneficially own 2,769,888 Common Shares representing 4.8% of the 57,579,729 Common Shares outstanding as of July 30, 2024, as reported by the Issuer on its Form 10-Q filed August 7, 2024, as follows: (i) 13,388 Common Shares over which Mr. Kaufman possesses the sole voting power and sole dispositive power, and (ii) 2,756,500 Common Shares over which MAK Capital, Mr. Kaufman, MAK Champion and MAK Fund share the voting power and dispositive power. (c)Except for the sales described in Item 4 above and in the Schedule 13D, no Reporting Person has effected any transactions in the Common Shares during the last 60 days. (e)The Reporting Persons ceased to be the beneficial owner of more than five percent of the Common Shares on September 5, 2024. Page 7 of 7 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. Date: September 6, 2024 MAK CAPITAL ONE L.L.C. By: /s/ Michael A. Kaufman Michael A. Kaufman, Managing Member /s/ Michael A. Kaufman MICHAEL A. KAUFMAN MAK CHAMPION INVESTMENT LLC By: MAK CAPITAL FUND LP By: /s/ Michael A. Kaufman Michael A. Kaufman, President MAK CAPITAL FUND LP By: MAK GP LLC, general partner By: /s/ Michael A. Kaufman Michael A. Kaufman, Managing Member