SCHEDULE 13G: Azora Capital Discloses 5% Passive Stake in First Foundation Inc.
Beneficial Ownership Report
Azora Capital LP, along with its general partner Azora Capital GP LLC and managing member Ravi Chopra, has disclosed a 5% passive beneficial ownership stake in First Foundation Inc. as of December 31, 2024.
Summary
- Azora Capital LP, Azora Capital GP LLC, and Ravi Chopra (collectively, the "Reporting Persons") have filed a Schedule 13G, indicating beneficial ownership of 4,153,917 shares of First Foundation Inc. Common Stock.
- This ownership represents 5.0% of First Foundation Inc.'s outstanding Common Stock.
- The percentage is calculated based on 82,364,631 shares of Common Stock issued and outstanding as of December 2, 2024, as reported by First Foundation Inc. in its Form 424B3 filed on December 16, 2024.
- The Reporting Persons hold shared voting power and shared dispositive power over all 4,153,917 shares.
- Azora Capital LP serves as the investment manager to certain investment funds and/or accounts (the "Funds") that hold these shares.
- Azora Capital GP LLC is the general partner to Azora Capital LP, and Ravi Chopra is the managing member of Azora Capital GP LLC.
- The filing indicates a passive investment intent, with the Reporting Persons disclaiming beneficial ownership in the securities and membership in a "group" as described in Rule 13d-5(b)(1).
Sentiment
Score: 5
Explanation: The document is a standard regulatory disclosure of a passive ownership stake, providing factual information without expressing positive or negative sentiment regarding the issuer's performance or outlook.
Industry Context
This filing is a standard regulatory disclosure within the financial services industry, where investment managers routinely report significant passive ownership stakes in publicly traded companies, such as First Foundation Inc., which operates in the banking or financial sector.
Stakeholder Impact
- Shareholders of First Foundation Inc. are informed of a new significant passive owner, Azora Capital LP, holding a 5% stake in the company.
Next Steps
- The Reporting Persons acknowledge and agree that all subsequent amendments to this Schedule 13G statement shall be filed on behalf of each undersigned without the necessity of filing additional joint acquisition statements.
Key Dates
| Date | Description |
|---|---|
| 2024-12-02 | Date as of which 82,364,631 Common Stock shares were reported as issued and outstanding by First Foundation Inc. in its Form 424B3. |
| 2024-12-16 | Date First Foundation Inc. filed its Form 424B3 with the SEC, reporting outstanding shares. |
| 2024-12-31 | Date of event which requires the filing of this Schedule 13G statement (beneficial ownership threshold crossed). |
| 2025-02-14 | Date the Schedule 13G statement was signed and filed by the Reporting Persons. |
Keywords
First Foundation Inc., Azora Capital LP, Azora Capital GP LLC, Ravi Chopra, Schedule 13G, beneficial ownership, common stock, investment management, passive stake
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.