Form 4: Mink Brook Asset Management Boosts Stake in DLH Holdings Corp. to Over 2.2 Million Shares

Mink Brook Asset Management LLC, a 10% owner of DLH Holdings Corp., has significantly increased its beneficial ownership through recent open market purchases of common stock.

Summary

• Mink Brook Asset Management LLC, identified as a 10% owner of DLH Holdings Corp. (DLHC), reported multiple open market purchases of DLHC common stock.
• On June 10, 2025, Mink Brook Asset Management LLC acquired 4,408 shares at a weighted average price of $5.4894 per share, bringing its beneficial ownership through Mink Brook Partners LP to 1,504,096 shares.
• On June 11, 2025, an additional 21,210 shares were purchased at a weighted average price of $5.4995 per share, increasing beneficial ownership through Mink Brook Partners LP to 1,525,306 shares.
• On June 12, 2025, 19,561 shares were acquired at a weighted average price of $5.4419 per share, resulting in beneficial ownership through Mink Brook Partners LP of 1,544,867 shares.
• In addition to the shares held by Mink Brook Partners LP, Mink Brook Asset Management LLC also beneficially owns 694,322 shares through Mink Brook Opportunity Fund LP.
• Following these transactions, Mink Brook Asset Management LLC's total beneficial ownership in DLH Holdings Corp. stands at 2,239,189 shares.
• The prices reported are weighted averages, with individual transaction prices ranging from $5.4174 to $5.50.

Sentiment

Score: 8

Explanation: The document indicates significant insider buying by a 10% owner, which is generally viewed as a strong positive signal of confidence in the company's future prospects and valuation.

Positives

• A significant 10% owner, Mink Brook Asset Management LLC, has increased its stake in DLH Holdings Corp. through open market purchases, signaling confidence in the company's prospects.
• The total beneficial ownership by Mink Brook Asset Management LLC has increased to 2,239,189 shares, demonstrating a growing commitment to DLH Holdings Corp.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Management Comments

• William Mueller, as managing member of Mink Brook Asset Management LLC and Mink Brook Capital GP LLC, disclaims beneficial ownership of the reported shares except to the extent of his pecuniary interest therein.
• Mink Brook Asset Management LLC, as the investment manager of Mink Brook Partners LP and Mink Brook Opportunity Fund LP, may be deemed to beneficially own the securities held by these funds.

Industry Context

Insider buying, particularly by a significant 10% owner, is often interpreted by the market as a positive signal, suggesting that those with deep knowledge of the company believe its shares are undervalued or expect positive developments.

Stakeholder Impact

• Shareholders may view the increased insider ownership as a positive indicator of management and significant investor confidence, potentially leading to increased investor interest and share price appreciation.

Key Dates

Recommendation

Keywords

DLH Holdings Corp., DLHC, Mink Brook Asset Management LLC, Insider Buying, Form 4, Beneficial Ownership, Common Stock, Investment Management, Equity Purchase