Fund 1 Investments Amends Vera Bradley Filing
Ticker: VRA · Form: SC 13D/A · Filed: Sep 13, 2024 · CIK: 1495320
Sentiment: neutral
Topics: schedule-13d, amendment, beneficial-ownership
Related Tickers: VRA
TL;DR
Fund 1 Investments updated its Vera Bradley filing on 9/13. Watch for changes.
AI Summary
Fund 1 Investments, LLC, through an amendment filed on September 13, 2024, has updated its Schedule 13D regarding Vera Bradley, Inc. The filing indicates a change in beneficial ownership, though specific new holdings or percentage changes are not detailed in this excerpt. The amendment was made by Fund 1 Investments, LLC, with legal counsel from Olshan Frome Wolosky LLP.
Why It Matters
This amendment signals a potential shift in the investment strategy or stake of Fund 1 Investments in Vera Bradley, which could influence the company's stock performance.
Risk Assessment
Risk Level: medium — Amendments to Schedule 13D filings often indicate significant changes in a major shareholder's position, which can lead to increased stock volatility.
Key Players & Entities
- Fund 1 Investments, LLC (company) — Filing entity
- Vera Bradley, Inc. (company) — Subject company
- Kenneth Mantel, Esq. (person) — Authorized contact for notices
- Olshan Frome Wolosky LLP (company) — Legal counsel
FAQ
What specific changes in beneficial ownership are detailed in this amendment?
This excerpt does not specify the exact changes in beneficial ownership, only that an amendment to the Schedule 13D was filed.
What is the CUSIP number for Vera Bradley, Inc. common stock?
The CUSIP number for Vera Bradley, Inc. common stock is 92335C106.
When was the event that required this filing?
The date of the event which requires filing of this statement is September 11, 2024.
What is the business address of Vera Bradley, Inc.?
The business address of Vera Bradley, Inc. is 12420 Stonebridge Road, Roanoke, IN 46783.
Who is authorized to receive notices and communications for this filing?
Kenneth Mantel, Esq. of Olshan Frome Wolosky LLP is authorized to receive notices and communications.
Filing Stats: 945 words · 4 min read · ~3 pages · Grade level 10.4 · Accepted 2024-09-13 17:10:00
Key Financial Figures
- $16,905,330 — y the Reporting Person is approximately $16,905,330, including brokerage commissions. Item
Filing Documents
- sc13da413866010_09132024.htm (SC 13D/A) — 43KB
- 0000921895-24-002124.txt ( ) — 44KB
Source and Amount of Funds or Other Consideration
Item 3. Source and Amount of Funds or Other Consideration .
is hereby amended
Item 3 is hereby amended and restated to read as follows: The Shares beneficially owned by the Reporting Person were purchased with working capital of the Funds (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business) in open market purchases. The aggregate purchase price of the 2,456,155 Shares beneficially owned by the Reporting Person is approximately $16,905,330, including brokerage commissions.
Interest in Securities of the Issuer
Item 5. Interest in Securities of the Issuer . Items 5(a)-(c) are hereby amended and restated to read as follows: The aggregate percentage of Shares reported beneficially owned by the Reporting Person is based upon 28,225,770 Shares outstanding as of September 4, 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 September 11, 2024. (a) As of the date hereof, Fund 1 Investments beneficially owned 2,456,155 Shares. Percentage: Approximately 8.7% (b) 1. Sole power to vote or direct vote: 2,456,155 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 2,456,155 4. Shared power to dispose or direct the disposition: 0 (c) The transactions in the Shares by Fund 1 Investments on behalf of the Funds since the filing of Amendment No. 3 are set forth in Schedule A and are incorporated herein by reference.
Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer .
is hereby amended
Item 6 is hereby amended and restated to read as follows: The Reporting Person has entered into certain cash-settled swap agreements with an unaffiliated third-party financial institution (the “Cash-Settled Swaps”). Collectively, the Cash-Settled Swaps held by the Reporting Person represent economic exposure to an aggregate of 2,656,292 notional Shares, representing approximately 9.4% of the outstanding Shares. The Cash-Settled Swaps provide the Reporting Person with economic results that are comparable to the economic results of ownership, but do not provide it with the power to vote or direct the voting, or dispose of or direct the disposition, of the Shares that are subject to the Cash-Settled Swaps. Other than as described herein, there are no contracts, arrangements, understandings or relationships between the Reporting Person and any other person, with respect to the securities of the Issuer. 3 CUSIP No. 92335C106
SIGNATURES
SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: September 13, 2024 FUND 1 INVESTMENTS, LLC By: /s/ Benjamin C. Cable Name: Benjamin C. Cable Title: Chief Operating Officer 4 CUSIP No. 92335C106 SCHEDULE A Transactions in the Securities of the Issuer Since the Filing of Amendment No. 3 Nature of the Transaction Amount of Securities Purchased/(Sold) Price ($) Date of Purchase/Sale FUND 1 INVESTMENTS, LLC (On Behalf of the Funds) Sale of Common Stock (400,000) 4.6550 09/11/2024