SCHEDULE 13G/A: Fund 1 Investments, LLC Discloses 9.42% Stake in Funko, Inc.

Fund 1 Investments, LLC has filed an amended Schedule 13G, reporting a 9.42% beneficial ownership stake in Funko, Inc.'s Class A Common Stock as of December 31, 2024.

Summary

• Fund 1 Investments, LLC, a Delaware limited liability company, has reported beneficial ownership of 4,965,424 shares of Funko, Inc.'s Class A Common Stock.
• This ownership represents 9.42% of Funko, Inc.'s Class A Common Stock outstanding.
• The shares are held for the benefit of private investment vehicles for which Pleasant Lake Partners LLC serves as investment adviser.
• Fund 1 Investments, LLC serves as the managing member of Pleasant Lake Partners LLC, and Jonathan Lennon serves as the managing member of Fund 1 Investments, LLC.
• The beneficial ownership includes shared voting power and shared dispositive power over all 4,965,424 shares.
• The percentage of class is calculated based on 52,722,832 shares of Class A Common Stock outstanding as of November 5, 2024, as reported in Funko's Quarterly Report on Form 10-Q for the period ended September 30, 2024.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership and does not contain information that would inherently indicate positive or negative sentiment regarding the company's operational performance or financial health. The presence of a significant institutional investor stake is generally viewed neutrally to slightly positively.

Positives

• The disclosure of a significant 9.42% stake by Fund 1 Investments, LLC, an institutional investor, may be interpreted by the market as a vote of confidence in Funko, Inc.'s future prospects.

Future Outlook

NA

Industry Context

This filing is a standard disclosure of beneficial ownership by an institutional investor, which is a common occurrence in the public markets. It does not provide specific insights into broader industry trends or Funko's competitive position beyond the fact that an investment firm sees value in holding a significant stake.

Stakeholder Impact

• Shareholders: The disclosure of a significant stake by an institutional investor like Fund 1 Investments, LLC may instill confidence among existing shareholders and potentially attract new investors, as it signals institutional interest in the company.

Key Dates

Keywords

Funko, Class A Common Stock, Schedule 13G, Beneficial Ownership, Fund 1 Investments LLC, Pleasant Lake Partners LLC, Institutional Investor