SCHEDULE 13G: Voss Capital and Affiliates Disclose 5.2% Stake in Latham Group, Inc.

Voss Capital, along with its affiliated funds and managing member Travis W. Cocke, has disclosed a collective beneficial ownership of 5.2% in Latham Group, Inc.'s common stock.

Summary

• Voss Capital, LP, and its affiliates, including Voss Value Master Fund, LP, Voss Value-Oriented Special Situations Fund, LP, Voss Advisors GP, LLC, and Travis W. Cocke, have filed a Schedule 13G.
• The filing indicates that Voss Capital, LP and Travis W. Cocke each beneficially own 5,966,715 shares of Latham Group, Inc. common stock.
• This aggregate ownership represents approximately 5.2% of Latham Group, Inc.'s outstanding common stock.
• The beneficial ownership is based on 115,776,595 shares outstanding as of March 5, 2025, as disclosed in the Issuer's Definitive Proxy Statement on Schedule 14A.
• Voss Value Master Fund, LP beneficially owns 1,500,200 shares (1.3% of class).
• Voss Value-Oriented Special Situations Fund, LP beneficially owns 200,000 shares (0.2% of class).
• Voss Advisors GP, LLC, as general partner, beneficially owns 1,700,200 shares (1.5% of class).
• Voss Capital, LP, as investment manager, and Travis W. Cocke, as managing member, are deemed beneficial owners of the combined holdings, including 4,266,515 shares held in Voss Managed Accounts.

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 issuer's performance or outlook.

Future Outlook

NA

Management Comments

• The reporting persons certify that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer, 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 Rule 240.14a-11.

Industry Context

This filing indicates a significant passive investment by an institutional investor group in Latham Group, Inc., a company operating in the pool and backyard products industry. Such disclosures are common for investment funds crossing the 5% ownership threshold, signaling their position in the company without necessarily implying an activist stance.

Stakeholder Impact

• Shareholders: The disclosure of a significant stake by an institutional investor group may be viewed positively by some shareholders as a sign of confidence, while others might monitor for potential future activist intentions, although the filing states a passive purpose.

Key Dates

Keywords

Latham Group Inc., Voss Capital, Schedule 13G, Beneficial Ownership, Common Stock, Investment Fund, SEC Filing, Travis W. Cocke