SCHEDULE 13G/A: Fourthstone Entities Disclose 9.36% Passive Stake in California Bancorp
Beneficial Ownership Disclosure
Fourthstone LLC and its affiliated entities have disclosed a combined beneficial ownership of 9.36% of California Bancorp's common stock as of December 31, 2024, held for investment purposes.
Summary
- Fourthstone LLC, a Delaware Limited Liability Company and Investment Adviser, along with its affiliated entities, Fourthstone Master Opportunity Fund Ltd, Fourthstone GP LLC, Fourthstone QP Opportunity Fund LP, Fourthstone Small-Cap Financials Fund LP, and L. Phillip Stone, IV, collectively reported beneficial ownership of 3,010,135 shares of California Bancorp's common stock.
- This aggregate ownership represents 9.36% of the total outstanding common stock of California Bancorp.
- The shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of California Bancorp.
- The percentage of class is based on 32,165,188 shares of Common Stock outstanding as of November 8, 2024, as reported in California Bancorp's Form 10-Q filed on November 14, 2024.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership and does not convey positive or negative sentiment regarding the issuer's performance or prospects. It is neutral.
Future Outlook
NA
Management Comments
- Fourthstone LLC acquired the Issuer's shares in the ordinary course of business as a registered investment adviser and not with the purpose nor with the effect of influencing the control of the Issuer.
- Each of the Reporting Persons listed in this filing certify the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the Issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that effect.
- By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11.
Industry Context
This filing indicates a significant passive investment by an investment adviser and its funds in California Bancorp, a financial institution. Such disclosures are common in the financial services sector, where investment firms take strategic stakes in publicly traded companies.
Stakeholder Impact
- Shareholders: The disclosure of a significant passive stake (9.36%) by an investment firm may be viewed positively by some shareholders as a vote of confidence or as a potential indicator of future institutional interest.
Key Dates
| Date | Description |
|---|---|
| 2024-11-08 | Date of shares outstanding calculation for California Bancorp (32,165,188 shares). |
| 2024-11-14 | Date California Bancorp filed its Form 10-Q with the SEC, providing the shares outstanding data. |
| 2024-12-31 | Date of event which requires filing of this statement (reporting period end). |
| 2025-02-14 | Date of filing of this Schedule 13G Amendment No. 2. |
Keywords
California Bancorp, Fourthstone LLC, Beneficial Ownership, Schedule 13G, Common Stock, Investment Adviser, Passive Investment, SEC Filing, Financial Services, Banking
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