SCHEDULE: Ararat Capital Boosts European Wax Center Stake to 7.2%

Ararat Capital Management, LP and its affiliates have reported a 7.2% beneficial ownership stake in European Wax Center, Inc. Class A Common Stock.

Summary

• Ararat Capital Management, LP, Narrow River Capital Partners Master Fund, L.P., and Raffi Tokatlian collectively hold 3,114,767 shares of European Wax Center, Inc. Class A Common Stock.
• This represents a 7.2% beneficial ownership stake in the company.
• The ownership is shared, with all 3,114,767 shares having shared voting power and shared dispositive power.
• The percentage is calculated based on 43,360,719 Class A Common Stock shares reported outstanding as of August 7, 2025.
• The filing is an Amendment No. 3 to a Schedule 13G, indicating an update to previously reported ownership.
• The reporting persons certify that the securities were not acquired or held for the purpose of changing or influencing the control of European Wax Center, Inc.

Sentiment

Score: 6

Explanation: The filing indicates a significant, passive institutional investment, which is generally a neutral to slightly positive signal of confidence, but provides no further operational or financial details.

Positives

• A significant institutional investor, Ararat Capital Management, LP, maintains a substantial 7.2% stake, potentially signaling confidence in European Wax Center's long-term prospects.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: The continued significant stake by an institutional investor may be viewed positively, suggesting confidence in the company's value.

Key Dates

Keywords

European Wax Center, EWC, Ararat Capital Management, Narrow River Capital, Raffi Tokatlian, beneficial ownership, Schedule 13G, institutional investment, equity stake, Class A Common Stock